Bunzl (BNZL) Price Target Raised to GBX 2,550

Bunzl (LON:BNZL) had its target price lifted by Goldman Sachs Group from GBX 2,500 ($32.56) to GBX 2,550 ($33.22) in a research report released on Tuesday, September 11th. They currently have a neutral rating on the stock.

Several other research analysts also recently weighed in on the stock. Royal Bank of Canada dropped their target price on shares of Bunzl from GBX 1,950 ($25.40) to GBX 1,800 ($23.45) and set an underperform rating for the company in a report on Friday, September 7th. UBS Group upped their target price on shares of Bunzl from GBX 2,300 ($29.96) to GBX 2,400 ($31.26) and gave the stock a neutral rating in a report on Monday, September 3rd. Barclays reaffirmed an overweight rating on shares of Bunzl in a report on Wednesday, August 29th. Deutsche Bank reiterated a buy rating and issued a GBX 2,650 ($34.52) price target (down previously from GBX 2,660 ($34.65)) on shares of Bunzl in a research note on Wednesday, August 29th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Bunzl from GBX 2,609 ($33.98) to GBX 2,630 ($34.26) and gave the stock a neutral rating in a research note on Wednesday, August 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of GBX 2,357 ($30.70).

Bunzl stock traded down GBX 48 ($0.63) during mid-day trading on Tuesday, hitting GBX 2,299 ($29.95). The stock had a trading volume of 1,360,719 shares, compared to its average volume of 1,290,000. Bunzl has a one year low of GBX 1,918.50 ($24.99) and a one year high of GBX 2,472 ($32.20).

Bunzl (LON:BNZL) last issued its earnings results on Tuesday, August 28th. The company reported GBX 59.40 ($0.77) earnings per share for the quarter, topping the consensus estimate of GBX 59.10 ($0.77) by GBX 0.30 ($0.00). Bunzl had a net margin of 4.01% and a return on equity of 26.17%.

The firm also recently announced a dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Thursday, November 15th will be given a dividend of GBX 15.20 ($0.20) per share. This represents a dividend yield of 0.64%. The ex-dividend date is Thursday, November 15th.

In related news, insider Paul Nicholas Hussey sold 12,600 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of GBX 2,370 ($30.87), for a total value of £298,620 ($388,980.07). Also, insider Patrick Larmon sold 28,500 shares of the stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of GBX 2,404 ($31.31), for a total transaction of £685,140 ($892,457.99). Insiders have sold a total of 45,966 shares of company stock worth $109,762,440 over the last 90 days.

About Bunzl

Bunzl plc provides distribution and outsourcing services primarily in the North America, Continental Europe, the United Kingdom, Ireland, and internationally. It provides non-food consumables, including food packaging, napkins, disposable tableware, food service disposables, guest amenities, light and heavy catering equipment, cleaning and hygiene products, and safety items to hotels, restaurants, caterers, and food processors and packers, as well as the leisure sector.

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