JPMorgan Chase & Co. Boosts Stake in Costamare Inc. (NYSE:CMRE)

JPMorgan Chase & Co. lifted its holdings in Costamare Inc. (NYSE:CMRE - Free Report) by 33.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 452,504 shares of the shipping company's stock after purchasing an additional 112,938 shares during the period. JPMorgan Chase & Co. owned about 0.38% of Costamare worth $5,815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CMRE. Fox Run Management L.L.C. acquired a new stake in Costamare in the fourth quarter valued at approximately $258,000. Sei Investments Co. lifted its position in shares of Costamare by 11.3% during the 4th quarter. Sei Investments Co. now owns 87,073 shares of the shipping company's stock valued at $1,119,000 after buying an additional 8,814 shares in the last quarter. American Century Companies Inc. grew its stake in Costamare by 18.8% in the 4th quarter. American Century Companies Inc. now owns 1,077,400 shares of the shipping company's stock valued at $13,845,000 after acquiring an additional 170,412 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Costamare by 100.2% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,505 shares of the shipping company's stock worth $508,000 after acquiring an additional 19,769 shares in the last quarter. Finally, Intech Investment Management LLC raised its position in Costamare by 131.3% during the fourth quarter. Intech Investment Management LLC now owns 28,698 shares of the shipping company's stock worth $369,000 after acquiring an additional 16,293 shares during the period. Hedge funds and other institutional investors own 58.08% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CMRE shares. Jefferies Financial Group reiterated a "hold" rating and issued a $13.00 target price on shares of Costamare in a research report on Wednesday, February 5th. StockNews.com cut Costamare from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

Costamare Stock Up 0.5 %

NYSE CMRE opened at $8.93 on Friday. The business has a fifty day moving average price of $9.93 and a 200 day moving average price of $12.09. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65. The company has a market cap of $1.07 billion, a P/E ratio of 3.66 and a beta of 1.11. Costamare Inc. has a one year low of $8.11 and a one year high of $17.58.

Costamare (NYSE:CMRE - Get Free Report) last issued its earnings results on Wednesday, February 5th. The shipping company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.03. Costamare had a net margin of 15.14% and a return on equity of 14.03%. Research analysts anticipate that Costamare Inc. will post 2.52 EPS for the current fiscal year.

Costamare Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Thursday, April 17th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend is Thursday, April 17th. Costamare's dividend payout ratio (DPR) is 18.85%.

Costamare Company Profile

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.