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

Shore Capital reissued their buy rating on shares of Bunzl (LON:BNZL - Free Report) in a research note published on Thursday, Marketbeat.com reports.

A number of other research firms have also recently commented on BNZL. 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. Royal Bank of Canada upgraded shares of Bunzl to a "sector perform" rating and increased their price objective for the stock from GBX 2,700 ($35.06) to GBX 3,350 ($43.50) in a research note on Thursday, August 29th. Jefferies Financial Group raised 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 report on Thursday, September 5th. Finally, JPMorgan Chase & Co. upped 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 report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Bunzl currently has a consensus rating of "Hold" and an average target price of GBX 3,182.50 ($41.32).

Bunzl Stock Performance

LON:BNZL traded down GBX 46 ($0.60) during trading hours on Thursday, reaching GBX 3,500 ($45.44). The company had a trading volume of 768,990 shares, compared to its average volume of 941,354. The firm has a market cap of £11.69 billion, a price-to-earnings ratio of 2,413.79, a PEG ratio of 5.40 and a beta of 0.45. The company has a current ratio of 1.15, a quick ratio of 0.73 and a debt-to-equity ratio of 123.00. The firm's 50 day moving average price is GBX 3,477.72 and its 200-day moving average price is GBX 3,209.82. Bunzl has a 52 week low of GBX 2,782 ($36.12) and a 52 week high of GBX 3,732 ($48.45).

Bunzl Cuts Dividend

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

Insider Buying and Selling

In other news, insider Jacky Simmonds bought 1,445 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were bought at an average price 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 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.