Bunzl (LON:BNZL) Stock Price Passes Above Two Hundred Day Moving Average of $3,143.40

Shares of Bunzl plc (LON:BNZL) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 3,143.40 ($41.96) and traded as high as GBX 3,612 ($48.21). Bunzl shares last traded at GBX 3,598 ($48.02), with a volume of 269,028 shares changing hands.

Wall Street Analysts Forecast Growth

BNZL has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Bunzl from GBX 3,300 ($44.05) to GBX 3,380 ($45.11) and gave the company a “neutral” rating in a research note on Friday, June 28th. Jefferies Financial Group boosted their price objective on shares of Bunzl from GBX 2,600 ($34.70) to GBX 2,800 ($37.37) and gave the stock an “underperform” rating in a report on Thursday, September 5th. Shore Capital reiterated a “buy” rating on shares of Bunzl in a research note on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 3,200 ($42.71) price target on shares of Bunzl in a research note on Friday, June 28th. Finally, Royal Bank of Canada raised Bunzl to a “sector perform” rating and increased their price objective for the company from GBX 2,700 ($36.04) to GBX 3,350 ($44.71) in a research report on Thursday, August 29th. 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 MarketBeat.com, the company has an average rating of “Hold” and an average price target of GBX 3,182.50 ($42.48).

Bunzl Stock Performance

The firm has a 50 day moving average of GBX 3,349.04 and a 200-day moving average of GBX 3,143.40. The company has a market cap of £12.09 billion, a P/E ratio of 2,481.38, a PEG ratio of 5.40 and a beta of 0.45. The company has a quick ratio of 0.73, a current ratio of 1.15 and a debt-to-equity ratio of 123.00.

Bunzl Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, January 3rd. Shareholders of record on Thursday, November 14th will be given a dividend of GBX 20.10 ($0.27) per share. This represents a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, November 14th. Bunzl’s payout ratio is 4,827.59%.

Insider Buying and Selling at Bunzl

In related news, insider Jacky Simmonds bought 1,445 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was bought at an average cost of GBX 3,462 ($46.21) per share, for a total transaction of £50,025.90 ($66,772.42). 0.84% of the stock is owned by 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.