Geode Capital Management LLC Cuts Stock Holdings in Costamare Inc. (NYSE:CMRE)

Geode Capital Management LLC lessened its stake in Costamare Inc. (NYSE:CMRE) by 0.5% in the third quarter, HoldingsChannel reports. The fund owned 513,382 shares of the shipping company’s stock after selling 2,523 shares during the period. Geode Capital Management LLC’s holdings in Costamare were worth $8,070,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. bought a new position in shares of Costamare during the third quarter valued at about $886,000. Barclays PLC increased its stake in shares of Costamare by 291.1% during the third quarter. Barclays PLC now owns 59,016 shares of the shipping company’s stock valued at $928,000 after buying an additional 43,925 shares during the period. Foundry Partners LLC bought a new position in shares of Costamare during the third quarter valued at approximately $4,032,000. Federated Hermes Inc. lifted its stake in 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 acquiring an additional 399,860 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Costamare by 1,322.0% in the second quarter. Acadian Asset Management LLC now owns 1,469,697 shares of the shipping company’s stock worth $24,119,000 after acquiring an additional 1,366,344 shares during the period. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Costamare Price Performance

Shares of CMRE stock opened at $13.50 on Friday. Costamare Inc. has a twelve month low of $10.14 and a twelve month high of $17.58. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 4.49 and a beta of 1.34. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73. The business’s fifty day moving average is $13.46 and its 200 day moving average is $14.23.

Costamare (NYSE:CMRE) last issued its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Costamare had a net margin of 19.11% and a return on equity of 14.28%. The company had revenue of $544.64 million during the quarter, compared to analysts’ expectations of $434.13 million. During the same period last year, the company posted $0.46 EPS. Research analysts expect that Costamare Inc. will post 2.83 EPS for the current fiscal year.

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Tuesday, January 21st will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.41%. Costamare’s dividend payout ratio is currently 15.28%.

Analyst Ratings Changes

Several research analysts have commented on CMRE shares. Jefferies Financial Group restated a “hold” rating and issued a $13.00 price objective on shares of Costamare in a report on Friday, November 1st. StockNews.com lowered shares of Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd.

About Costamare