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

Bunzl plc (LON:BNZL)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 3,244.70 ($42.24) and traded as high as GBX 3,488.54 ($45.41). Bunzl shares last traded at GBX 3,476 ($45.25), with a volume of 378,309 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Royal Bank of Canada raised Bunzl to a “sector perform” rating and increased their price objective for the stock from GBX 2,700 ($35.15) to GBX 3,350 ($43.61) in a research report on Thursday, August 29th. Jefferies Financial Group raised their price target on Bunzl from GBX 2,600 ($33.85) to GBX 2,800 ($36.45) and gave the company an “underperform” rating in a report on Thursday, September 5th. Finally, Shore Capital reissued a “buy” rating on shares of Bunzl in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of GBX 3,182.50 ($41.43).

Bunzl Stock Performance

The firm has a fifty day moving average of GBX 3,528.20 and a 200-day moving average of GBX 3,244.70. The stock has a market capitalization of £11.61 billion, a price-to-earnings ratio of 2,397.24, 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 disclosed a dividend, which will be paid on Friday, January 3rd. Investors of record on Thursday, November 14th will be issued 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 dividend payout ratio is presently 4,827.59%.

Insider Buying and Selling

In related news, insider Jacky Simmonds purchased 1,445 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was bought at an average price of GBX 3,462 ($45.07) per share, with a total value of £50,025.90 ($65,120.93). 0.84% of the stock is currently owned by insiders.

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.