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

Bunzl plc (LON:BNZL)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 3,200.82 ($41.56) and traded as high as GBX 3,580 ($46.48). Bunzl shares last traded at GBX 3,556 ($46.17), with a volume of 357,898 shares.

Analyst Ratings Changes

Several equities analysts have commented on BNZL shares. Shore Capital restated a “buy” rating on shares of Bunzl in a research note on Tuesday, August 27th. Royal Bank of Canada upgraded Bunzl to a “sector perform” rating and lifted their price objective for the company from GBX 2,700 ($35.06) to GBX 3,350 ($43.50) in a research note on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on shares of Bunzl from GBX 3,300 ($42.85) to GBX 3,380 ($43.88) and gave the stock a “neutral” rating in a research note on Friday, June 28th. Jefferies Financial Group lifted their price target on shares of Bunzl from GBX 2,600 ($33.76) to GBX 2,800 ($36.35) and gave the stock an “underperform” rating in a research note on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a GBX 3,200 ($41.55) price objective on shares of Bunzl in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Bunzl has a consensus rating of “Hold” and a consensus target price of GBX 3,182.50 ($41.32).

Bunzl Price Performance

The stock has a market capitalization of £11.88 billion, a PE ratio of 2,452.41, a P/E/G 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 stock’s 50-day moving average is GBX 3,455.96 and its 200 day moving average is GBX 3,200.82.

Bunzl Cuts Dividend

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

Insider Activity at Bunzl

In other news, insider Jacky Simmonds purchased 1,445 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were bought at an average price of GBX 3,462 ($44.95) per share, with a total value of £50,025.90 ($64,951.83). Insiders own 0.84% of the company’s stock.

Bunzl Company Profile

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.