Bunzl (OTCMKTS:BZLFY) Shares Cross Above 50 Day Moving Average - Here's What Happened

Key Points

• Bunzl PLC shares have recently surpassed their fifty-day moving average of $15.77, with shares trading at $15.80 as of Thursday.
• The company announced an increase in dividends, raising the payout to $0.3289 per share, resulting in a dividend yield of 2.63%.
• Analyst ratings are mixed, with four analysts rating the stock as a hold, while one has issued a buy and three have rated it a strong buy.

Bunzl PLC (OTCMKTS:BZLFY - Get Free Report)'s share price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $15.77 and traded as high as $15.90. Bunzl shares last traded at $15.80, with a volume of 36,354 shares trading hands.

Wall Street Analysts Forecast Growth

BZLFY has been the topic of a number of research analyst reports. Royal Bank Of Canada lowered shares of Bunzl from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Kepler Capital Markets raised shares of Bunzl to a "hold" rating in a research note on Thursday, June 19th. Barclays raised shares of Bunzl from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Finally, Peel Hunt downgraded shares of Bunzl from a "moderate buy" rating to a "hold" rating in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy".

Bunzl Stock Up 0.8%

The company has a quick ratio of 0.76, a current ratio of 1.18 and a debt-to-equity ratio of 0.49. The firm's 50 day simple moving average is $15.72 and its two-hundred day simple moving average is $17.94.

Bunzl Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, July 9th. Stockholders of record on Monday, May 26th were issued a dividend of $0.3289 per share. This is a boost from Bunzl's previous dividend of $0.25. This represents a dividend yield of 2.63%. The ex-dividend date was Friday, May 23rd.

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.