Bunzl’s (BNZL) “Buy” Rating Reaffirmed at Shore Capital

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

Bunzl Stock Down 1.0 %

LON:BNZL opened at GBX 3,056 ($37.75) on Wednesday. Bunzl has a 12-month low of GBX 2,680 ($33.10) and a 12-month high of GBX 3,306 ($40.83). The company has a quick ratio of 0.73, a current ratio of 1.40 and a debt-to-equity ratio of 106.68. The firm has a market capitalization of £10.26 billion, a P/E ratio of 2,005.19, a P/E/G ratio of 5.40 and a beta of 0.47. The stock’s fifty day simple moving average is GBX 3,067.36 and its 200-day simple moving average is GBX 3,069.13.

Bunzl Increases Dividend

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

Insiders Place Their Bets

In other Bunzl news, insider Richard Howes sold 10,730 shares of Bunzl stock in a transaction dated Friday, March 1st. The stock was sold at an average price of GBX 3,105 ($38.35), for a total transaction of £333,166.50 ($411,519.89). Corporate 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.