Bunzl (LON:BNZL) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Bunzl plc (LON:BNZL) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 3,263.62 ($41.09) and traded as high as GBX 3,456 ($43.51). Bunzl shares last traded at GBX 3,440 ($43.31), with a volume of 869,946 shares.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Shore Capital reaffirmed a “buy” rating on shares of Bunzl in a report on Thursday, October 24th. Royal Bank of Canada upgraded Bunzl to a “sector perform” rating and increased their price target for the company from GBX 2,700 ($33.99) to GBX 3,350 ($42.18) in a report on Thursday, August 29th. Finally, Jefferies Financial Group increased their price target on Bunzl from GBX 2,600 ($32.73) to GBX 2,800 ($35.25) and gave the company an “underperform” rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of GBX 3,182.50 ($40.07).

Bunzl Trading Up 2.0 %

The stock has a market capitalization of £11.58 billion, a price-to-earnings ratio of 2,391.72, a PEG ratio of 5.40 and a beta of 0.45. The company has a debt-to-equity ratio of 123.00, a quick ratio of 0.73 and a current ratio of 1.15. The business has a 50-day moving average of GBX 3,529.32 and a 200-day moving average of GBX 3,266.04.

Bunzl Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, January 3rd. Shareholders of record on Thursday, November 14th will be paid a dividend of GBX 20.10 ($0.25) per share. This represents a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, November 14th. Bunzl’s dividend payout ratio is presently 4,827.59%.

Insider Activity at Bunzl

In related news, insider Jacky Simmonds purchased 1,445 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were acquired at an average cost of GBX 3,462 ($43.59) per share, with a total value of £50,025.90 ($62,981.12). 0.84% of the stock is owned by corporate insiders.

About Bunzl

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.