Kings Point Capital Management held its position in Bemis Co. (NYSE:BMS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,000 shares of the company’s stock at the end of the third quarter. Kings Point Capital Management’s holdings in Bemis were worth $204,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Citadel Advisors LLC bought a new stake in shares of Bemis during the second quarter worth about $64,356,000. Point72 Asset Management L.P. bought a new stake in shares of Bemis during the second quarter worth about $20,291,000. Alliancebernstein L.P. raised its stake in shares of Bemis by 444.2% in the second quarter. Alliancebernstein L.P. now owns 393,278 shares of the company’s stock worth $20,250,000 after buying an additional 321,007 shares in the last quarter. Kornitzer Capital Management Inc. KS bought a new stake in shares of Bemis during the third quarter worth about $14,866,000. Finally, Vanguard Group Inc. raised its stake in shares of Bemis by 2.3% in the second quarter. Vanguard Group Inc. now owns 9,363,600 shares of the company’s stock worth $482,132,000 after buying an additional 210,016 shares in the last quarter. Institutional investors and hedge funds own 75.68% of the company’s stock.
Shares of Bemis Co. (NYSE:BMS) traded up 0.20% during trading on Friday, reaching $50.02. 41,300 shares of the company’s stock were exchanged. Bemis Co. has a 12-month low of $42.45 and a 12-month high of $54.19. The stock has a 50-day moving average price of $49.25 and a 200 day moving average price of $50.47. The company has a market capitalization of $4.69 billion, a P/E ratio of 20.68 and a beta of 0.89.
Bemis (NYSE:BMS) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The firm earned $1.03 billion during the quarter, compared to the consensus estimate of $1.06 billion. Bemis had a return on equity of 20.19% and a net margin of 5.81%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the company earned $0.67 EPS. Equities analysts expect that Bemis Co. will post $2.68 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Wednesday, November 16th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Monday, November 14th. Bemis’s payout ratio is 47.93%.
A number of analysts have recently issued reports on BMS shares. Bank of America Corp. lowered shares of Bemis from a “buy” rating to a “neutral” rating and set a $54.00 target price for the company. in a research note on Friday, October 28th. BMO Capital Markets reissued a “market perform” rating and set a $52.00 target price on shares of Bemis in a research note on Tuesday, August 2nd. Zacks Investment Research raised shares of Bemis from a “sell” rating to a “hold” rating in a research note on Friday, November 18th. Jefferies Group reissued a “hold” rating and set a $46.00 target price (down from $47.00) on shares of Bemis in a research note on Tuesday, November 1st. Finally, FIX assumed coverage on shares of Bemis in a research note on Thursday, July 28th. They set a “reduce” rating and a $28.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. Bemis currently has an average rating of “Hold” and a consensus target price of $50.42.
In related news, Director Edward N. Perry sold 1,561 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $49.40, for a total transaction of $77,113.40. Following the completion of the sale, the director now directly owns 96,577 shares of the company’s stock, valued at approximately $4,770,903.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.
Bemis Company, Inc is a manufacturer of packaging products. The Company operates through two business segments: U.S. Packaging and Global Packaging. The U.S. Packaging segment represents food, consumer and industrial products packaging-related manufacturing operations in the United States. The U.S. Packaging segment manufactures multilayer polymer, blown and cast film structures to produce packaging sold for food and personal care product applications, as well as non-food applications.