Royal Bank of Canada upgraded shares of Bunzl (LON:BNZL – Free Report) to a sector perform rating in a research note issued to investors on Thursday morning, MarketBeat reports. Royal Bank of Canada currently has GBX 3,350 ($44.18) price objective on the stock, up from their prior price objective of GBX 2,700 ($35.61).
A number of other analysts also recently issued reports on the company. Shore Capital reissued a buy rating on shares of Bunzl in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft reiterated a hold rating and issued a GBX 3,200 ($42.20) price target on shares of Bunzl in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. lifted their price target on Bunzl from GBX 3,300 ($43.52) to GBX 3,380 ($44.57) and gave the company a neutral rating in a research report on Friday, June 28th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of GBX 3,282.50 ($43.29).
Check Out Our Latest Stock Analysis on BNZL
Bunzl Stock Performance
Bunzl Cuts Dividend
The business also recently declared a dividend, which will be paid on Friday, January 3rd. Stockholders of record on Thursday, November 14th will be given a GBX 20.10 ($0.27) dividend. This represents a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, November 14th. Bunzl’s dividend payout ratio (DPR) is presently 4,358.97%.
Insider Activity
In other Bunzl news, insider Jacky Simmonds acquired 1,445 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was bought at an average price of GBX 3,462 ($45.65) per share, with a total value of £50,025.90 ($65,971.12). 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.
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