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

Shore Capital reiterated their buy rating on shares of Bunzl (LON:BNZL) in a research report released on Wednesday morning, MarketBeat Ratings reports.

Bunzl Stock Performance

LON BNZL opened at GBX 3,070 ($37.92) on Wednesday. The stock has a 50-day simple moving average of GBX 3,062.42 and a two-hundred day simple moving average of GBX 3,069.02. The firm has a market capitalization of £10.31 billion, a P/E ratio of 1,993.51, a PEG ratio of 5.40 and a beta of 0.47. Bunzl has a fifty-two week low of GBX 2,680 ($33.10) and a fifty-two week high of GBX 3,306 ($40.83). The company has a debt-to-equity ratio of 106.68, a quick ratio of 0.73 and a current ratio of 1.40.

Bunzl Increases Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Thursday, May 16th will be paid a dividend of GBX 50.10 ($0.62) per share. The ex-dividend date is Thursday, May 16th. This represents a dividend yield of 1.52%. This is a positive change from Bunzl’s previous dividend of $18.20. Bunzl’s dividend payout ratio (DPR) is presently 4,415.58%.

Insider Buying and Selling at Bunzl

In related news, insider Frank van Zanten sold 24,244 shares of Bunzl stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of GBX 3,062 ($37.82), for a total value of £742,351.28 ($916,935.87). In related news, insider Frank van Zanten sold 24,244 shares of Bunzl stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of GBX 3,062 ($37.82), for a total value of £742,351.28 ($916,935.87). Also, insider Richard Howes sold 10,730 shares of Bunzl stock in a transaction dated Friday, March 1st. The shares were sold at an average price of GBX 3,105 ($38.35), for a total value of £333,166.50 ($411,519.89). Company insiders own 0.88% 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.