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

Bunzl plc (LON:BNZL)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Jefferies Financial Group upped their price target on shares of Bunzl from GBX 2,600 ($33.72) to GBX 2,800 ($36.31) and gave the company an “underperform” rating in a research note on Thursday, September 5th. Shore Capital reissued a “buy” rating on shares of Bunzl in a report on Thursday, October 24th. Finally, Royal Bank of Canada upgraded shares of Bunzl to a “sector perform” rating and raised their price objective for the company from GBX 2,700 ($35.01) to GBX 3,350 ($43.44) in a research report on Thursday, August 29th. One research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of GBX 3,182.50 ($41.27).

Bunzl Trading Down 0.6 %

The company has a quick ratio of 0.73, a current ratio of 1.15 and a debt-to-equity ratio of 123.00. The firm has a market cap of £11.40 billion, a PE ratio of 2,353.10, a PEG ratio of 5.40 and a beta of 0.45. The stock’s fifty day simple moving average is GBX 3,499.64 and its two-hundred day simple moving average is GBX 3,225.82.

Bunzl Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, January 3rd. Investors of record on Thursday, November 14th will be issued a GBX 20.10 ($0.26) dividend. The ex-dividend date is Thursday, November 14th. This represents a yield of 0.57%. 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 company’s stock in a transaction that occurred on Thursday, August 29th. The shares were bought at an average price of GBX 3,462 ($44.90) per share, for a total transaction of £50,025.90 ($64,876.02). Company insiders own 0.84% of the company’s stock.

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.