Bank of Montreal Can Acquires New Stake in Bemis Co. (BMS)
Bank of Montreal Can purchased a new position in shares of Bemis Co. (NYSE:BMS) during the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 83,867 shares of the company’s stock, valued at approximately $4,318,000.
Several other hedge funds also recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. increased its stake in shares of Bemis by 12.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,250,552 shares of the company’s stock worth $168,314,000 after buying an additional 362,058 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Bemis by 36.6% in the first quarter. Renaissance Technologies LLC now owns 857,700 shares of the company’s stock worth $44,412,000 after buying an additional 230,000 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Bemis by 81.9% in the first quarter. TIAA CREF Investment Management LLC now owns 441,811 shares of the company’s stock worth $22,877,000 after buying an additional 198,916 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Bemis by 22.5% in the first quarter. BlackRock Group LTD now owns 530,865 shares of the company’s stock worth $27,487,000 after buying an additional 97,435 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its stake in shares of Bemis by 454.0% in the first quarter. Riverhead Capital Management LLC now owns 97,507 shares of the company’s stock worth $5,049,000 after buying an additional 79,907 shares during the last quarter. 75.74% of the stock is currently owned by hedge funds and other institutional investors.
Bemis Co. (NYSE:BMS) traded down 0.78% during midday trading on Thursday, hitting $49.60. 304,624 shares of the stock traded hands. The firm has a market cap of $4.70 billion, a PE ratio of 21.19 and a beta of 0.65. The company’s 50 day moving average price is $51.14 and its 200 day moving average price is $50.96. Bemis Co. has a 12 month low of $40.76 and a 12 month high of $54.19.
Bemis (NYSE:BMS) last announced its earnings results on Thursday, July 28th. The company reported $0.67 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.67. The business earned $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Bemis had a return on equity of 19.75% and a net margin of 5.67%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 EPS. Equities research analysts predict that Bemis Co. will post $2.72 earnings per share for the current fiscal year.
BMS has been the topic of a number of recent analyst reports. SunTrust Banks Inc. initiated coverage on shares of Bemis in a report on Tuesday, July 12th. They set a “buy” rating and a $60.00 price target on the stock. BMO Capital Markets reiterated a “market perform” rating and issued a $52.00 price objective on shares of Bemis in a research note on Tuesday, August 2nd. Jefferies Group increased their price objective on shares of Bemis from $44.00 to $48.00 and gave the stock a “hold” rating in a research note on Thursday, July 14th. Zacks Investment Research cut shares of Bemis from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Finally, Citigroup Inc. increased their price objective on shares of Bemis from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 19th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. Bemis presently has an average rating of “Hold” and a consensus target price of $49.75.
Bemis Company Profile
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.
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