Cutter & CO Brokerage Inc. Has $178,000 Holdings in Costamare Inc. (NYSE:CMRE)

Cutter & CO Brokerage Inc. cut its position in shares of Costamare Inc. (NYSE:CMRE) by 24.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,683 shares of the shipping company’s stock after selling 5,000 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Costamare were worth $178,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Costamare by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 456,561 shares of the shipping company’s stock worth $4,392,000 after purchasing an additional 20,523 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Costamare during the third quarter valued at about $223,000. Raymond James & Associates acquired a new position in shares of Costamare during the fourth quarter valued at about $135,000. Unison Advisors LLC grew its holdings in shares of Costamare by 1.2% during the fourth quarter. Unison Advisors LLC now owns 81,014 shares of the shipping company’s stock valued at $843,000 after buying an additional 977 shares during the last quarter. Finally, Denali Advisors LLC grew its holdings in shares of Costamare by 8.0% during the fourth quarter. Denali Advisors LLC now owns 450,495 shares of the shipping company’s stock valued at $4,690,000 after buying an additional 33,400 shares during the last quarter. 58.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CMRE shares. StockNews.com cut shares of Costamare from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 21st. Stifel Nicolaus raised their price target on shares of Costamare from $11.50 to $12.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Finally, Jefferies Financial Group raised their price target on shares of Costamare from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, May 10th.

Costamare Price Performance

NYSE:CMRE traded down $0.84 during mid-day trading on Friday, hitting $16.13. 662,207 shares of the stock traded hands, compared to its average volume of 548,628. The business’s 50-day moving average price is $14.90 and its 200 day moving average price is $12.37. The company has a market cap of $1.90 billion, a PE ratio of 6.25 and a beta of 1.38. Costamare Inc. has a 12-month low of $8.54 and a 12-month high of $17.58. The company has a quick ratio of 1.81, a current ratio of 1.91 and a debt-to-equity ratio of 0.80.

Costamare (NYSE:CMRE) last issued its quarterly earnings data on Friday, May 10th. The shipping company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. The company had revenue of $475.43 million during the quarter, compared to analysts’ expectations of $383.32 million. Costamare had a net margin of 19.26% and a return on equity of 12.61%. On average, analysts expect that Costamare Inc. will post 3.08 EPS for the current fiscal year.

Costamare Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Friday, July 19th will be issued a $0.115 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.85%. Costamare’s payout ratio is 17.83%.

Costamare Company Profile