Bunzl (LON:BNZL) Stock Price Down 24.4% - Here's What Happened

Bunzl plc (LON:BNZL - Get Free Report)'s stock price was down 24.4% during mid-day trading on Wednesday . The stock traded as low as GBX 2,218 ($29.50) and last traded at GBX 2,327.73 ($30.96). Approximately 5,287,830 shares changed hands during mid-day trading, an increase of 115% from the average daily volume of 2,465,146 shares. The stock had previously closed at GBX 3,078 ($40.94).

Analysts Set New Price Targets

BNZL has been the topic of several research reports. Shore Capital reissued a "buy" rating on shares of Bunzl in a research report on Monday, March 31st. Citigroup upgraded shares of Bunzl to a "buy" rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of GBX 3,375 ($44.89).

Bunzl Stock Performance

The company has a market capitalization of £7.52 billion, a PE ratio of 15.89, a PEG 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. The stock's fifty day simple moving average is GBX 3,048.53 and its 200-day simple moving average is GBX 3,308.43.

Bunzl (LON:BNZL - Get Free Report) last issued its quarterly earnings data on Monday, March 3rd. The company reported GBX 194.30 ($2.58) earnings per share for the quarter. Bunzl had a net margin of 4.20% and a return on equity of 16.82%. On average, research analysts predict that Bunzl plc will post 213.3413462 earnings per share for the current fiscal year.

Bunzl Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, May 22nd will be issued a dividend of GBX 53.80 ($0.72) per share. This is a positive change from Bunzl's previous dividend of $20.10. This represents a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, May 22nd. Bunzl's dividend payout ratio is presently 48.39%.

Insider Activity at Bunzl

In other news, insider Frank van Zanten purchased 4,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of GBX 3,037 ($40.40) per share, with a total value of £121,480 ($161,585.53). Also, insider Richard Howes bought 8,479 shares of the stock in a transaction dated Wednesday, April 16th. The shares were acquired at an average price of GBX 2,338 ($31.10) per share, with a total value of £198,239.02 ($263,685.85). 0.84% of the stock is owned by 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.