Bunzl (LON:BNZL) Hits New 1-Year High at $3,680.00

Bunzl plc (LON:BNZL)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as GBX 3,680 ($48.61) and last traded at GBX 3,676.88 ($48.57), with a volume of 249120 shares. The stock had previously closed at GBX 3,664 ($48.40).

Analyst Ratings Changes

A number of analysts recently weighed in on BNZL shares. Royal Bank of Canada upgraded Bunzl to a “sector perform” rating and increased their price objective for the company from GBX 2,700 ($35.67) to GBX 3,350 ($44.25) in a report on Thursday, August 29th. Shore Capital reaffirmed a “buy” rating on shares of Bunzl in a research note on Tuesday, August 27th. Jefferies Financial Group upped their target price on Bunzl from GBX 2,600 ($34.35) to GBX 2,800 ($36.99) and gave the company an “underperform” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. raised their price target on shares of Bunzl from GBX 3,300 ($43.59) to GBX 3,380 ($44.65) and gave the stock a “neutral” rating in a report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a GBX 3,200 ($42.27) price objective on shares of Bunzl in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of GBX 3,182.50 ($42.04).

Bunzl Stock Performance

The stock has a market capitalization of £12.42 billion, a price-to-earnings ratio of 2,550.34, a price-to-earnings-growth ratio of 5.40 and a beta of 0.45. The company has a 50 day simple moving average of GBX 3,310.72 and a 200-day simple moving average of GBX 3,129.37. 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 business also recently announced 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 ($0.27) per share. This represents a yield of 0.57%. The ex-dividend date of this dividend is Thursday, November 14th. Bunzl’s dividend payout ratio is presently 4,827.59%.

Insiders Place Their Bets

In related news, insider Jacky Simmonds acquired 1,445 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were bought at an average price of GBX 3,462 ($45.73) per share, with a total value of £50,025.90 ($66,084.41). Corporate 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.