Bunzl (LON:BNZL) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Bunzl plc (LON:BNZL)’s share 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.

Analysts Set New Price Targets

BNZL has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective 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 restated a “hold” rating and set a GBX 3,200 ($41.88) price target on shares of Bunzl in a research report on Friday, June 28th. Shore Capital reiterated a “buy” rating on shares of Bunzl in a research report on Tuesday, August 27th. Royal Bank of Canada upgraded Bunzl to a “sector perform” rating and boosted 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. Finally, Jefferies Financial Group increased their price target 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 research 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of GBX 3,182.50 ($41.65).

Bunzl Price Performance

The stock has a market cap of £11.52 billion, a P/E ratio of 2,368.28, a price-to-earnings-growth 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 firm has a 50-day moving average price of GBX 3,416.20 and a 200-day moving average price of GBX 3,179.04.

Bunzl Cuts Dividend

The firm also recently announced 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 ($0.26) 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 4,827.59%.

Insider Buying and Selling at Bunzl

In other news, insider Jacky Simmonds purchased 1,445 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were bought at an average price of GBX 3,462 ($45.31) per share, for a total transaction of £50,025.90 ($65,470.36). 0.84% of the stock is owned by company 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.