Bunzl (LON:BNZL) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

by · The Cerbat Gem

Bunzl plc (LON:BNZL – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 3,179.04 ($41.61) and traded as high as GBX 3,478 ($45.52). Bunzl shares last traded at GBX 3,434 ($44.94), with a volume of 347,811 shares.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Shore Capital reissued a “buy” rating on shares of Bunzl in a research report on Tuesday, August 27th. Royal Bank of Canada upgraded shares of Bunzl to a “sector perform” rating and raised their target price for the stock from GBX 2,700 ($35.34) to GBX 3,350 ($43.84) in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their price target on shares of Bunzl from GBX 3,300 ($43.19) to GBX 3,380 ($44.24) and gave the company a “neutral” rating in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 3,200 ($41.88) price objective on shares of Bunzl in a research report on Friday, June 28th. Finally, Jefferies Financial Group upped their target price on shares of Bunzl from GBX 2,600 ($34.03) to GBX 2,800 ($36.64) and gave the company an “underperform” rating in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Bunzl presently has an average rating of “Hold” and a consensus price target of GBX 3,182.50 ($41.65).

Read Our Latest Analysis on BNZL

Bunzl Stock Up 0.9 %

The company has a debt-to-equity ratio of 123.00, a current ratio of 1.15 and a quick ratio of 0.73. The firm’s 50-day moving average price is GBX 3,420.52 and its 200 day moving average price is GBX 3,182.20. The firm has a market capitalization of £11.63 billion, a price-to-earnings ratio of 2,390.34, a price-to-earnings-growth ratio of 5.40 and a beta of 0.45.

Bunzl Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, January 3rd. Shareholders of record on Thursday, November 14th will be paid a GBX 20.10 ($0.26) dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a yield of 0.57%. Bunzl’s payout ratio is currently 4,827.59%.

Insider Activity

In related news, insider Jacky Simmonds bought 1,445 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average cost of GBX 3,462 ($45.31) per share, with a total value of £50,025.90 ($65,470.36). Company insiders own 0.84% of the company’s stock.

About Bunzl

(Get Free Report)

Bunzl plc operates as a distribution and services company in the North America, Continental Europe, the United Kingdom, Ireland, and internationally. The company offers food packaging, films, labels, cleaning and hygiene supplies, and personal protection equipment to grocery stores, supermarkets, and convenience stores.

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