Costamare Inc. (NYSE:CMRE) Shares Sold by Evergreen Capital Management LLC

Evergreen Capital Management LLC lowered its position in shares of Costamare Inc. (NYSE:CMRE) by 32.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,998 shares of the shipping company’s stock after selling 30,055 shares during the quarter. Evergreen Capital Management LLC owned 0.05% of Costamare worth $1,051,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in shares of Costamare in the 1st quarter worth $1,172,000. Russell Investments Group Ltd. increased its stake in Costamare by 56,543.3% in the 1st quarter. Russell Investments Group Ltd. now owns 143,874 shares of the shipping company’s stock worth $1,633,000 after purchasing an additional 143,620 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Costamare during the 2nd quarter worth about $1,999,000. Bridgeway Capital Management LLC lifted its stake in Costamare by 16.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,313,829 shares of the shipping company’s stock valued at $13,677,000 after buying an additional 183,193 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Costamare by 25,731.0% in the second quarter. Federated Hermes Inc. now owns 401,414 shares of the shipping company’s stock worth $6,595,000 after buying an additional 399,860 shares during the period. 58.08% of the stock is currently owned by institutional investors.

Costamare Price Performance

NYSE CMRE opened at $15.37 on Wednesday. The stock has a 50-day simple moving average of $14.00 and a 200 day simple moving average of $13.74. Costamare Inc. has a twelve month low of $8.54 and a twelve month high of $17.58. The stock has a market capitalization of $1.81 billion, a PE ratio of 5.96 and a beta of 1.37. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.54 and a current ratio of 1.61.

Costamare (NYSE:CMRE) last posted its quarterly earnings results on Wednesday, July 31st. The shipping company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. Costamare had a net margin of 19.63% and a return on equity of 13.63%. The company had revenue of $515.42 million for the quarter, compared to analyst estimates of $380.41 million. Research analysts anticipate that Costamare Inc. will post 3.05 EPS for the current year.

Costamare Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, July 19th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Friday, July 19th. Costamare’s dividend payout ratio (DPR) is presently 17.83%.

Analysts Set New Price Targets

CMRE has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price target on shares of Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Jefferies Financial Group boosted their target price on shares of Costamare from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, StockNews.com raised Costamare from a “hold” rating to a “buy” rating in a research report on Friday, August 23rd.

Costamare Company Profile