Bunzl (LON:BNZL) Shares Down 23.8% – Should You Sell?

Bunzl plc (LON:BNZL)’s share price was down 23.8% during mid-day trading on Wednesday . The company traded as low as GBX 2,252 ($29.88) and last traded at GBX 2,346 ($31.13). Approximately 121,980,813 shares traded hands during trading, an increase of 2,934% from the average daily volume of 4,021,052 shares. The stock had previously closed at GBX 3,078 ($40.84).

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Shore Capital reissued a “buy” rating on shares of Bunzl in a research note on Monday, March 31st. Citigroup upgraded Bunzl to a “buy” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of GBX 3,375 ($44.78).

Bunzl Trading Up 0.4 %

The company’s 50 day moving average price is GBX 3,071.17 and its two-hundred day moving average price is GBX 3,319.24. The firm has a market cap of £7.52 billion, a PE ratio of 15.89, a P/E/G ratio of 5.40 and a beta of 0.45. The company has a quick ratio of 0.73, a current ratio of 1.15 and a debt-to-equity ratio of 123.00.

Bunzl (LON:BNZL) last issued its quarterly earnings results on Monday, March 3rd. The company reported GBX 194.30 ($2.58) EPS for the quarter. Bunzl had a net margin of 4.20% and a return on equity of 16.82%. As a group, sell-side analysts forecast that Bunzl plc will post 213.3413462 EPS for the current year.

Bunzl Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, May 22nd will be issued a GBX 53.80 ($0.71) dividend. This represents a dividend yield of 1.8%. This is an increase from Bunzl’s previous dividend of $20.10. The ex-dividend date is Thursday, May 22nd. Bunzl’s dividend payout ratio is presently 48.39%.

Insider Activity at Bunzl

In related news, insider Frank van Zanten purchased 4,000 shares of Bunzl stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of GBX 3,037 ($40.29) per share, with a total value of £121,480 ($161,178.19). Also, insider Richard Howes acquired 8,479 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The shares were bought at an average price of GBX 2,338 ($31.02) per share, with a total value of £198,239.02 ($263,021.12). 0.84% of the stock is owned by company insiders.

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.