Banque Cantonale Vaudoise lessened its position in Costamare Inc. (NYSE:CMRE – Free Report) by 17.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,039 shares of the shipping company’s stock after selling 5,115 shares during the period. Banque Cantonale Vaudoise’s holdings in Costamare were worth $236,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of CMRE. JPMorgan Chase & Co. grew its position in Costamare by 22.3% in the 1st quarter. JPMorgan Chase & Co. now owns 476,629 shares of the shipping company’s stock valued at $7,872,000 after buying an additional 86,941 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Costamare by 18.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,904 shares of the shipping company’s stock valued at $203,000 after buying an additional 1,883 shares in the last quarter. HighTower Advisors LLC bought a new position in Costamare in the 1st quarter valued at about $712,000. Dimensional Fund Advisors LP grew its position in Costamare by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,907,931 shares of the shipping company’s stock valued at $100,733,000 after buying an additional 162,918 shares in the last quarter. Finally, Sei Investments Co. grew its position in Costamare by 58.1% in the 1st quarter. Sei Investments Co. now owns 54,083 shares of the shipping company’s stock valued at $923,000 after buying an additional 19,869 shares in the last quarter. Institutional investors and hedge funds own 22.68% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. Jefferies Financial Group lowered shares of Costamare from a “buy” rating to a “hold” rating and decreased their target price for the company from $15.00 to $10.00 in a research report on Monday, April 24th. StockNews.com upgraded shares of Costamare from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th.
Costamare Stock Performance
Costamare (NYSE:CMRE – Free Report) last announced its earnings results on Monday, May 15th. The shipping company reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. Costamare had a net margin of 53.06% and a return on equity of 17.47%. The company had revenue of $248.77 million during the quarter, compared to analysts’ expectations of $227.06 million. Analysts forecast that Costamare Inc. will post 2.55 earnings per share for the current fiscal year.
Costamare Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, August 7th. Shareholders of record on Thursday, July 20th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Wednesday, July 19th. Costamare’s payout ratio is 10.22%.
Costamare Profile
Costamare Inc engages in owning and chartering containerships and dry bulk vessels that are chartered to liner companies providing transportation of cargoes worldwide. As of March 21, 2023, it had a fleet of fleet of 71 containerships and 45 dry bulk vessels. The company was founded in 1974 and is based in Monaco.
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