Bunzl (LON:BNZL) Shares Pass Above 200 Day Moving Average – Time to Sell?

Bunzl plc (LON:BNZL)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 3,263.62 ($41.42) and traded as high as GBX 3,456 ($43.86). Bunzl shares last traded at GBX 3,440 ($43.65), with a volume of 869,946 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BNZL. Jefferies Financial Group lifted their price target on Bunzl from GBX 2,600 ($32.99) to GBX 2,800 ($35.53) and gave the company an “underperform” rating in a report on Thursday, September 5th. Shore Capital reiterated a “buy” rating on shares of Bunzl in a report on Thursday, October 24th. Finally, Royal Bank of Canada upgraded Bunzl to a “sector perform” rating and lifted their price target for the company from GBX 2,700 ($34.26) to GBX 3,350 ($42.51) in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of GBX 3,182.50 ($40.39).

Bunzl Price Performance

The stock has a 50 day moving average of GBX 3,532.36 and a two-hundred day moving average of GBX 3,263.62. The company has a debt-to-equity ratio of 123.00, a quick ratio of 0.73 and a current ratio of 1.15. The firm has a market capitalization of £11.50 billion, a P/E ratio of 2,372.41, a P/E/G ratio of 5.40 and a beta of 0.45.

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 GBX 20.10 ($0.26) dividend. This represents a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, November 14th. Bunzl’s payout ratio is 4,827.59%.

Insider Activity at Bunzl

In other Bunzl news, insider Jacky Simmonds purchased 1,445 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were bought at an average cost of GBX 3,462 ($43.93) per share, with a total value of £50,025.90 ($63,484.64). 0.84% of the stock is owned by company 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.