Bunzl plc (BNZL) Lowered to “Underperform” at Jefferies Group LLC
Bunzl plc (LON:BNZL) was downgraded by Jefferies Group LLC to an “underperform” rating in a research note issued to investors on Monday. They currently have a GBX 1,950 ($25.37) price target on the stock, down from their previous price target of GBX 2,230 ($29.01). Jefferies Group LLC’s price target indicates a potential downside of 20.28% from the stock’s previous close.
Several other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a GBX 2,505 ($32.59) price target on shares of Bunzl plc in a report on Thursday, April 20th. Shore Capital reaffirmed a “hold” rating on shares of Bunzl plc in a report on Tuesday, April 11th. HSBC Holdings plc reaffirmed a “buy” rating and issued a GBX 2,508 ($32.63) price target on shares of Bunzl plc in a report on Monday, April 10th. Royal Bank of Canada upped their price target on shares of Bunzl plc from GBX 1,900 ($24.72) to GBX 1,950 ($25.37) and gave the company an “underperform” rating in a report on Wednesday, March 29th. Finally, Barclays PLC raised shares of Bunzl plc to an “overweight” rating and upped their price target for the company from GBX 2,450 ($31.87) to GBX 2,550 ($33.17) in a report on Tuesday, March 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of GBX 2,313.80 ($30.10).
Shares of Bunzl plc (LON:BNZL) traded down 0.49% during midday trading on Monday, reaching GBX 2446.00. 797,421 shares of the company traded hands. The firm’s market capitalization is GBX 8.06 billion. The company has a 50 day moving average of GBX 2,388.41 and a 200 day moving average of GBX 2,202.31. Bunzl plc has a 12 month low of GBX 1,949.50 and a 12 month high of GBX 2,587.89.
The firm also recently announced a dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, May 25th will be issued a dividend of GBX 29 ($0.38) per share. This represents a dividend yield of 1.29%. This is a boost from Bunzl plc’s previous dividend of $13.00. The ex-dividend date is Thursday, May 25th.
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In other Bunzl plc news, insider Frank van Zanten sold 4,935 shares of the stock in a transaction on Friday, March 3rd. The shares were sold at an average price of GBX 2,309 ($30.04), for a total transaction of £113,949.15 ($148,236.18). Also, insider Patrick Larmon sold 36,000 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of GBX 2,401 ($31.23), for a total transaction of £864,360 ($1,124,443.87). Insiders have sold 71,451 shares of company stock worth $169,697,775 over the last three months.
About Bunzl plc
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