Wells Fargo & Company MN lifted its holdings in Costamare Inc (NYSE:CMRE) by 61.2% in the 3rd quarter, Holdings Channel reports. The firm owned 297,867 shares of the shipping company’s stock after buying an additional 113,059 shares during the quarter. Wells Fargo & Company MN’s holdings in Costamare were worth $1,840,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Costamare by 8.4% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 45,100 shares of the shipping company’s stock valued at $330,000 after purchasing an additional 3,500 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Costamare by 7.1% in the 2nd quarter. California State Teachers Retirement System now owns 64,793 shares of the shipping company’s stock valued at $474,000 after purchasing an additional 4,300 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Costamare by 31.4% in the 2nd quarter. Royal Bank of Canada now owns 21,265 shares of the shipping company’s stock valued at $155,000 after purchasing an additional 5,081 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Costamare by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,117 shares of the shipping company’s stock valued at $212,000 after purchasing an additional 5,912 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of Costamare by 2.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 242,752 shares of the shipping company’s stock valued at $1,775,000 after purchasing an additional 6,716 shares during the last quarter. 25.62% of the stock is owned by institutional investors and hedge funds.

CMRE has been the subject of several analyst reports. Zacks Investment Research raised shares of Costamare from a “hold” rating to a “buy” rating and set a $6.75 price objective for the company in a research note on Tuesday, September 26th. BidaskClub upgraded shares of Costamare from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. ValuEngine upgraded shares of Costamare from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 target price on shares of Costamare in a report on Thursday, October 12th. Finally, Credit Suisse Group set a $7.00 target price on shares of Costamare and gave the stock a “hold” rating in a report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $7.00.

Costamare Inc (NYSE:CMRE) opened at $6.22 on Thursday. The company has a market cap of $665.76, a price-to-earnings ratio of 17.28, a P/E/G ratio of 1.73 and a beta of 2.10. Costamare Inc has a twelve month low of $5.07 and a twelve month high of $8.18. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.87.

Costamare (NYSE:CMRE) last announced its earnings results on Tuesday, October 24th. The shipping company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $98.40 million for the quarter, compared to the consensus estimate of $100.24 million. Costamare had a net margin of 14.03% and a return on equity of 7.57%. The business’s quarterly revenue was down 14.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. analysts expect that Costamare Inc will post 0.75 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 6th. Investors of record on Tuesday, January 23rd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, January 22nd. This represents a $0.40 annualized dividend and a yield of 6.43%. Costamare’s dividend payout ratio (DPR) is presently 111.11%.

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About Costamare

Costamare Inc (Costamare) is a holding company. The Company is an international owner of containerships. The Company is engaged in chartering its vessels to various liner companies. The Company provides marine transportation services around the world by chartering its container vessels to liner operators under long, medium and short-term time charters.

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Institutional Ownership by Quarter for Costamare (NYSE:CMRE)

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