Bunzl PLC

Bunzl is engaged in the distribution and outsourcing service, supplying a range of internationally sourced non-food products to a variety of market sectors. Co.'s market sectors: Foodservice, which comprised of non-food consumables, including food packaging, disposable tableware and guest amenities, cleaning products and safety items; Grocery, which goods not for resale including food packaging and hygiene supplies, to grocery stores; Cleaning and hygiene, which including chemicals and hygiene paper; safety, which include a range of personal protection equipment, including hard hats, gloves, boots, ear and eye protection and other workwear, to industrial and construction markets.
  • TickerBNZL
  • ISINGB00B0744B38
  • ExchangeLondon Stock Exchange
  • SectorSupport Services
  • CountryUnited Kingdom

Analysts

Michael Field

Morningstar | Narrow-Moat Bunzl Stumbles in 1Q

Narrow-moat Bunzl delivered a relatively downbeat first-quarter trading update. Organic revenue growth was just 1.5% over the period, a sharp drop from the 4.3% delivered in full-years 2017 and 2018. While this figure is well below our expectation of 3.4% growth in full-year 2019, we are hesitant to hastily cut our numbers so early in the year. We therefore maintain our near-term forecasts and GBX 2,360 fair value estimate. Despite today’s fall, we believe the shares are currently fairly valued. The cause of the sharp decline in growth in first-quarter was North America. Generating almost 60%...

Michael Field

Narrow Moat Bunzl Stumbles in Q1

Narrow-moat Bunzl delivered a relatively downbeat 1Q trading update. Organic revenue growth was just 1.5% over the period, a sharp drop from the 4.3% delivered in full-years 2017 and 2018. While this figure is well below our expectation of 3.4% growth in full-year 2019, we are hesitant to hastily cut our numbers so early in the year. We therefore maintain our near-term forecasts and GBX 2,360 fair value estimate. Despite today’s fall, we believe the shares are currently fairly valued. The cause...

Expert Corporate Governance Service (ECGS)

Bunzl April 17th, 2019

Item 4: Re-elect the CEO The CEO serves on the Nomination Committee, which does not meet ECGS guidelines.  We recommend shareholders oppose.   Item 12: Approve the remuneration report  The structure of remuneration is unsatisfactory given the size of the bonus, the use of accelerated vesting and an excessive benefits policy. Incentive pay as a percentage of base salary also exceeds guidelines.  This is partially mitigated by the base salary, which is at the median, and actual incentive pay was not excessive.  However, the CEO's salary was increased by 25% to the median in 2017 and the maxim...

Michael Field

Morningstar | Bunzl Company Report

Bunzl is the only global player in the nonfood consumables space, operating in more than 30 countries. The company sources, stores, and distributes thousands of products to its diverse customer base, essentially offering a one-stop shop for operating supplies. While Bunzl holds significant share, estimated to be close to 50% of the outsourced U.S. market, outside of Bunzl the market is extremely fragmented, with thousands of mom-and-pop or regional outfits meeting the needs of much of the industry. The company has successfully expanded through an almost even combination of organic and acquisit...

Michael Field

Morningstar | Narrow-Moat Bunzl Plates Up a Reasonable 2018

Narrow-moat Bunzl’s full-year results were a mixed bag. Top-line organic growth came in at 4.3%--the same result as in 2017, the highest levels recorded in a decade--while operating margins declined 10 basis points to 6.8%, principally due to the addition of some lower-margin grocery business in the United States. While these results were broadly in line with our expectations, they were slightly behind consensus on the bottom line. We do not expect to make any material changes to our forecasts, and we reiterate our GBX 2,160 fair value estimate. Given the strong run in the share price over the...

Michael Field

Morningstar | Narrow-Moat Bunzl Stumbles in 1Q

Narrow-moat Bunzl delivered a relatively downbeat first-quarter trading update. Organic revenue growth was just 1.5% over the period, a sharp drop from the 4.3% delivered in full-years 2017 and 2018. While this figure is well below our expectation of 3.4% growth in full-year 2019, we are hesitant to hastily cut our numbers so early in the year. We therefore maintain our near-term forecasts and GBX 2,360 fair value estimate. Despite today’s fall, we believe the shares are currently fairly valued. The cause of the sharp decline in growth in first-quarter was North America. Generating almost 60%...

Michael Field

Narrow Moat Bunzl Stumbles in Q1

Narrow-moat Bunzl delivered a relatively downbeat 1Q trading update. Organic revenue growth was just 1.5% over the period, a sharp drop from the 4.3% delivered in full-years 2017 and 2018. While this figure is well below our expectation of 3.4% growth in full-year 2019, we are hesitant to hastily cut our numbers so early in the year. We therefore maintain our near-term forecasts and GBX 2,360 fair value estimate. Despite today’s fall, we believe the shares are currently fairly valued. The cause...

Michael Field

Morningstar | Bunzl Company Report

Bunzl is the only global player in the nonfood consumables space, operating in more than 30 countries. The company sources, stores, and distributes thousands of products to its diverse customer base, essentially offering a one-stop shop for operating supplies. While Bunzl holds significant share, estimated to be close to 50% of the outsourced U.S. market, outside of Bunzl the market is extremely fragmented, with thousands of mom-and-pop or regional outfits meeting the needs of much of the industry. The company has successfully expanded through an almost even combination of organic and acquisit...

Michael Field

Morningstar | Narrow-Moat Bunzl Plates Up a Reasonable 2018

Narrow-moat Bunzl’s full-year results were a mixed bag. Top-line organic growth came in at 4.3%--the same result as in 2017, the highest levels recorded in a decade--while operating margins declined 10 basis points to 6.8%, principally due to the addition of some lower-margin grocery business in the United States. While these results were broadly in line with our expectations, they were slightly behind consensus on the bottom line. We do not expect to make any material changes to our forecasts, and we reiterate our GBX 2,160 fair value estimate. Given the strong run in the share price over the...

Michael Field

Narrow-Moat Bunzl Plates Up a Reasonable 2018

Narrow-moat Bunzl’s full-year results were a mixed bag. Top-line organic growth came in at 4.3%--the same result as in 2017, the highest levels recorded in a decade--while operating margins declined 10 basis points to 6.8%, principally due to the addition of some lower-margin grocery business in the United States. While these results were broadly in line with our expectations, they were slightly behind consensus on the bottom line. We do not expect to make any material changes to our forecasts, ...

A director bought 9,000 shares at 2,135p and

A director at Bunzl bought 9,000 shares at 2,135p and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board memb...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

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Bunzl plc - Strategy, SWOT and Corporate Finance Report

Synopsis Bunzl plc - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Summary - Detailed information on Bunzl plc required for business and competitor intelligence needs - A study of the major internal and external factors affecting Bunzl plc in the form of a SWOT analysis - An in-depth view of the business model of Bunzl plc including a breakdown and examination of key business ...

Expert Corporate Governance Service (ECGS)

Bunzl April 17th, 2019

Item 4: Re-elect the CEO The CEO serves on the Nomination Committee, which does not meet ECGS guidelines.  We recommend shareholders oppose.   Item 12: Approve the remuneration report  The structure of remuneration is unsatisfactory given the size of the bonus, the use of accelerated vesting and an excessive benefits policy. Incentive pay as a percentage of base salary also exceeds guidelines.  This is partially mitigated by the base salary, which is at the median, and actual incentive pay was not excessive.  However, the CEO's salary was increased by 25% to the median in 2017 and the maxim...

Bunzl PLC – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 19/04/2017

Item 11: Appoint the Auditor. Although the auditor's tenure and non-audit fees are in line with our guidelines, the auditor provides advice on remuneration. Item 13: Approve the Remuneration Policy. The changes proposed to the Remuneration Policy increase the amount of incentive remuneration, but do not address the concerns over the reliance on EPS in determining both the STI and LTI.Item 14: Approve the Remuneration Report. The structure is weighted more towards rewarding long-term performance, but the maximum LTI award of 400% of base salary is potentially excessive. Both the LTI and the STI...

Valérie GASTALDY

Short term view - BUNZL PLC : The trend is uncertain.

The trend is uncertain. Prices have recovered but the trend lacks power for the time being. Stochastics are at the overbought level. prices could fall again to 2,103.20 p.

Valérie GASTALDY

Analyse court terme - BUNZL PLC : La tendance est incertaine.

La tendance est incertaine. Les cours se sont repris, mais la tendance manque de puissance pour le moment. Les Stochastiques sont en zone de surachat. Les cours pourraient se replier jusqu'à 2 103,20 p.

Valérie GASTALDY

Analyse court terme - BUNZL PLC : Les cours se sont repris.

La tendance est incertaine. Les cours se sont repris, mais la tendance manque de puissance pour le moment. Les Stochastiques sont en zone de surachat. Les cours pourraient se replier jusqu'à 2 103,20 p.

Valérie GASTALDY

Short term view - BUNZL PLC : Prices recovered.

The trend is uncertain. Prices have recovered but the trend lacks power for the time being. Stochastics are at the overbought level. prices could fall again to 2,103.20 p.

Valérie GASTALDY

Analyse moyen terme - BUNZL PLC : La correction gagne en vigueur.

La tendance de fond est clairement orientée à la hausse. La correction en cours gagne en vigueur. Il est trop tôt pour parler de retournement baissier. La tendance serait invalidée sous le support à 1 864,00 p.

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