Bunzl (LON:BNZL) Shares Pass Above 200 Day Moving Average - What's Next?

Bunzl plc (LON:BNZL - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 3,200.82 ($41.56) and traded as high as GBX 3,580 ($46.48). Bunzl shares last traded at GBX 3,556 ($46.17), with a volume of 357,898 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BNZL. Shore Capital reiterated a "buy" rating on shares of Bunzl in a research note on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a GBX 3,200 ($41.55) price objective on shares of Bunzl in a research report on Friday, June 28th. Jefferies Financial Group upped their target price on shares of Bunzl from GBX 2,600 ($33.76) to GBX 2,800 ($36.35) and gave the company an "underperform" rating in a report on Thursday, September 5th. Royal Bank of Canada upgraded Bunzl to a "sector perform" rating and lifted their price target for the stock from GBX 2,700 ($35.06) to GBX 3,350 ($43.50) in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their price objective on Bunzl from GBX 3,300 ($42.85) to GBX 3,380 ($43.88) and gave the company a "neutral" rating in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of GBX 3,182.50 ($41.32).

Bunzl Price Performance

The stock has a market capitalization of £11.82 billion, a price-to-earnings ratio of 2,442.76, a P/E/G ratio of 5.40 and a beta of 0.45. The company's 50-day simple moving average is GBX 3,455.96 and its 200-day simple moving average is GBX 3,200.82. The company has a debt-to-equity ratio of 123.00, a current ratio of 1.15 and a quick ratio of 0.73.

Bunzl Cuts Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, November 14th. This represents a dividend yield of 0.57%. Bunzl's payout ratio is presently 4,827.59%.

Insider Buying and Selling

In related news, insider Jacky Simmonds purchased 1,445 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The stock was acquired at an average cost of GBX 3,462 ($44.95) per share, for a total transaction of £50,025.90 ($64,951.83). 0.84% of the stock is owned by 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.