Bunzl (LON:BNZL) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Bunzl plc (LON:BNZL)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 3,225.82 ($41.83) and traded as high as GBX 3,422 ($44.38). Bunzl shares last traded at GBX 3,412 ($44.25), with a volume of 695,825 shares traded.

Analysts Set New Price Targets

BNZL has been the subject of several analyst reports. Royal Bank of Canada upgraded Bunzl to a “sector perform” rating and boosted their target price for the stock from GBX 2,700 ($35.01) to GBX 3,350 ($43.44) in a report on Thursday, August 29th. Shore Capital reaffirmed a “buy” rating on shares of Bunzl in a report on Thursday, October 24th. Finally, Jefferies Financial Group lifted their target price on shares of Bunzl from GBX 2,600 ($33.72) to GBX 2,800 ($36.31) and gave the stock an “underperform” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of GBX 3,182.50 ($41.27).

Bunzl Trading Down 0.6 %

The business has a fifty day moving average price of GBX 3,499.64 and a 200 day moving average price of GBX 3,225.82. The company has a market capitalization of £11.40 billion, a P/E ratio of 2,353.10, a price-to-earnings-growth 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 business also recently disclosed a dividend, which will be paid on Friday, January 3rd. Stockholders of record on Thursday, November 14th will be given a GBX 20.10 ($0.26) dividend. This represents a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, November 14th. Bunzl’s payout ratio is presently 4,827.59%.

Insider Transactions at Bunzl

In other news, insider Jacky Simmonds purchased 1,445 shares of Bunzl stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average price of GBX 3,462 ($44.90) per share, for a total transaction of £50,025.90 ($64,876.02). 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.