Bunzl (LON:BNZL) Hits New 12-Month High at $3,602.00

Bunzl plc (LON:BNZL)’s share price reached a new 52-week high on Wednesday . The stock traded as high as GBX 3,602 ($47.36) and last traded at GBX 3,600 ($47.34), with a volume of 4083940 shares changing hands. The stock had previously closed at GBX 3,576 ($47.02).

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Bunzl from GBX 3,300 ($43.39) to GBX 3,380 ($44.44) and gave the stock a “neutral” rating in a report on Friday, June 28th. Royal Bank of Canada upgraded Bunzl to a “sector perform” rating and upped their price objective for the stock from GBX 2,700 ($35.50) to GBX 3,350 ($44.05) in a report on Thursday, August 29th. Shore Capital reiterated a “buy” rating on shares of Bunzl in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 3,200 ($42.08) target price on shares of Bunzl in a research report on Friday, June 28th. Finally, Jefferies Financial Group upped their target price on Bunzl from GBX 2,600 ($34.19) to GBX 2,800 ($36.82) and gave the stock an “underperform” rating in a research note on Thursday. One investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of GBX 3,182.50 ($41.85).

Bunzl Stock Up 1.1 %

The company has a debt-to-equity ratio of 106.68, a current ratio of 1.40 and a quick ratio of 0.73. The stock has a 50 day moving average price of GBX 3,236.92 and a 200-day moving average price of GBX 3,112.88. The stock has a market capitalization of £12.18 billion, a P/E ratio of 2,298.72, a PEG ratio of 5.40 and a beta of 0.46.

Bunzl Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, January 3rd. Investors of record on Thursday, November 14th will be given a dividend of GBX 20.10 ($0.26) per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a yield of 0.57%. Bunzl’s payout ratio is 4,358.97%.

Insiders Place Their Bets

In related news, insider Jacky Simmonds acquired 1,445 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was purchased at an average price of GBX 3,462 ($45.52) per share, with a total value of £50,025.90 ($65,780.28). Insiders own 0.84% of the company’s stock.

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.