Three Directors at Bunzl bought/sold after exercising options 37,142 shares at 2,426p. The significance rating of the trade was 60/100. 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 l...
Summary Jeronimo Martins SGPS SA - Company Profile and SWOT Analysis, 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. Key Highlights Jeronimo Martins SGPS SA (Jeronimo) is a distributor and retailer of food and fast-moving consumer goods. The company product portfolio includes fruits, vegetables, dairy, beauty, health care, ...
BUNZL (GB), a company active in the Business Support Services industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 2 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date December 31, 2021, the closing price ...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Item 3: Elect Peter Ventress Peter Ventress joined the Board as a Chairman designate on 1 June 2019. He will assume the role of the Chairman of the Board and of the Nomination Committee following the retirement of Philip Rogerson at the 2020 AGM. ECGS has concerns about the Board's gender diversity and hopes that newly appointed Chairman will pay particular attention to this issue. Item 4: Re-elect the CEO The CEO serves on the Nomination Committee, which does not meet the UK best practice a...
Item 3: Elect Peter Ventress Peter Ventress joined the Board as a Chairman designate on 1 June 2019. He will assume the role of the Chairman of the Board and of the Nomination Committee following the retirement of Philip Rogerson at the 2020 AGM. ECGS has concerns about the Board's gender diversity and hopes that newly appointed Chairman will pay particular attention to this issue. Item 4: Re-elect the CEO The CEO serves on the Nomination Committee, which does not meet the UK b...
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 cau...
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 cau...
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 wa...
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 indust...
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...
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...
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...
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 a...
Bunzl, the global leader in nonfood consumables, delivered a solid third-quarter trading update, with organic revenue growth of 4% supplemented by growth from acquisitions of a similar magnitude. While currency movements pegged this increase back by around 3%-4%, these numbers are very much in line with our expectations for the full year. As such, we do not expect to make any material changes to our estimates nor to our GBX 2,160 fair value estimate. We reiterate our narrow moat rating but belie...
Narrow-moat Bunzl delivered a solid third-quarter update with organic revenue growth of 4% and a 3% benefit from acquisition growth, in line with the pattern we have seen for the year to date. As these numbers are in line with our expectations for the full year, we do not expect to make any material changes to our forecasts or to our GBX 2,160 fair value estimate. At the prevailing prices, we believe the shares are fairly valued. The company also announced the acquisition of Volk do Brazil, a r...
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