Bunzl (LON:BNZL) Receives Buy Rating from Shore Capital

Shore Capital restated their buy rating on shares of Bunzl (LON:BNZL) in a research note published on Thursday morning, Marketbeat reports.

Several other research firms have also recently weighed in on BNZL. Jefferies Financial Group lifted their price objective 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 report on Thursday, September 5th. Royal Bank of Canada upgraded shares of Bunzl to a “sector perform” rating and lifted their price objective for the stock from GBX 2,700 ($35.06) to GBX 3,350 ($43.50) in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a GBX 3,200 ($41.55) price objective on shares of Bunzl in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Bunzl from GBX 3,300 ($42.85) to GBX 3,380 ($43.88) and gave the company a “neutral” rating in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of GBX 3,182.50 ($41.32).

Bunzl Trading Down 0.4 %

LON BNZL opened at GBX 3,472 ($45.08) on Thursday. Bunzl has a twelve month low of GBX 2,822 ($36.64) and a twelve month high of GBX 3,732 ($48.45). 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 has a market cap of £11.60 billion, a price-to-earnings ratio of 2,394.48, a PEG ratio of 5.40 and a beta of 0.45. The firm’s 50 day moving average price is GBX 3,483.60 and its two-hundred day moving average price is GBX 3,214.63.

Bunzl Cuts Dividend

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

Insider Buying and Selling at Bunzl

In related news, insider Jacky Simmonds bought 1,445 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was bought at an average price of GBX 3,462 ($44.95) per share, with a total value of £50,025.90 ($64,951.83). 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.