Shore Capital Reaffirms “Buy” Rating for Bunzl (LON:BNZL)

Shore Capital reaffirmed their buy rating on shares of Bunzl (LON:BNZL) in a research note released on Thursday, Marketbeat.com reports.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. increased 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 report on Friday, June 28th. Jefferies Financial Group increased their price objective on Bunzl from GBX 2,600 ($33.76) to GBX 2,800 ($36.35) and gave the stock an “underperform” rating in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 3,200 ($41.55) target price 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 raised their price target for the stock from GBX 2,700 ($35.06) to GBX 3,350 ($43.50) in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of GBX 3,182.50 ($41.32).

Bunzl Stock Performance

Shares of BNZL stock opened at GBX 3,472 ($45.08) on Thursday. The company has a debt-to-equity ratio of 123.00, a quick ratio of 0.73 and a current ratio of 1.15. Bunzl has a fifty-two week low of GBX 2,822 ($36.64) and a fifty-two week high of GBX 3,732 ($48.45). The company has a market capitalization of £11.60 billion, a P/E ratio of 2,394.48, a PEG ratio of 5.40 and a beta of 0.45. The stock has a 50 day moving average price of GBX 3,483.60 and a two-hundred day moving average price of GBX 3,212.78.

Bunzl Cuts Dividend

The company also recently disclosed 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 ($0.26) per share. The ex-dividend date is Thursday, November 14th. This represents a yield of 0.57%. Bunzl’s payout ratio is 4,827.59%.

Insiders Place Their Bets

In other news, insider Jacky Simmonds bought 1,445 shares of the stock in a transaction dated Thursday, August 29th. The stock was bought at an average price of GBX 3,462 ($44.95) per share, for a total transaction of £50,025.90 ($64,951.83). Company 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.