Navellier & Associates Inc. Has $300,000 Stock Position in Costamare Inc. (NYSE:CMRE)

Navellier & Associates Inc. lessened its position in Costamare Inc. (NYSE:CMRE) by 10.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 23,370 shares of the shipping company’s stock after selling 2,587 shares during the period. Navellier & Associates Inc.’s holdings in Costamare were worth $300,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its position in shares of Costamare by 87.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 550,301 shares of the shipping company’s stock valued at $7,071,000 after buying an additional 257,422 shares during the last quarter. Foundry Partners LLC bought a new stake in shares of Costamare in the third quarter valued at $4,032,000. Horizon Kinetics Asset Management LLC raised its stake in shares of Costamare by 41.6% in the third quarter. Horizon Kinetics Asset Management LLC now owns 323,000 shares of the shipping company’s stock valued at $5,078,000 after buying an additional 94,900 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Costamare by 577.2% in the third quarter. Sanctuary Advisors LLC now owns 76,309 shares of the shipping company’s stock valued at $1,200,000 after buying an additional 65,040 shares during the period. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Costamare in the third quarter valued at $886,000. Institutional investors and hedge funds own 58.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CMRE shares. StockNews.com cut Costamare from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Jefferies Financial Group reiterated a “hold” rating and issued a $13.00 price objective on shares of Costamare in a report on Wednesday, February 5th.

Costamare Trading Down 0.5 %

NYSE CMRE opened at $10.48 on Monday. Costamare Inc. has a 1-year low of $10.33 and a 1-year high of $17.58. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average of $11.95 and a 200-day moving average of $13.28. The firm has a market cap of $1.26 billion, a PE ratio of 4.29 and a beta of 1.31.

Costamare (NYSE:CMRE) last released its quarterly 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 return on equity of 14.03% and a net margin of 15.14%. As a group, sell-side analysts forecast that Costamare Inc. will post 2.52 EPS for the current year.

Costamare Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Stockholders of record on Tuesday, January 21st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend was Tuesday, January 21st. Costamare’s dividend payout ratio is currently 18.85%.

Costamare Company Profile