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Highlights:
- Coles shares have opened trading in green zone today, supported by a good sectoral performance.
- The S&P/ASX 200 Consumer Staples sector was quoted 0.368% up on ASX as of 10:51 AM AEST today.
Shares of leading Australian retailer Coles Group Limited (ASX:COL) opened marginally higher on ASX today (6 September). Coles’ share price stood at AU$17.65 per share after gaining by 0.113% at 10:24 AM AEST on Tuesday morning.
Over the last 12 months, Coles’ share price declined slightly by 0.62% on ASX. Furthermore, the retailer’s YTD-based share price came down by 1.45% on ASX today (as of 10:24 AM AEST).
Why are Coles shares under focus today?
Being a part of the Consumer Discretionary sector, shares of Coles are likely considered a ‘safe heaven’ by investors. Consumer stocks usually do not get heavily impacted by inflation or interest rate hikes. The entire ASX 200 Consumer sector opened up trading in green today.
The S&P/ASX 200 Consumer Staples sector (INDEXASX:XSJ) was spotted trading at 13334.8 points after gaining by 0.386% or 51.3 points at 10:51 AM AEST on ASX today.
Backed by a strong performance of the ASX 200 Consumer Staples sector, Coles was spotted trading in green zone during morning trading hours on Tuesday.
What else is happening within Coles?
Coles turned ex-dividend on 2 September 2022. The board of Coles has determined to pay a fully franked final dividend of AU$0.3 per share based on its earnings in FY22. The company is expected to pay dividend to its eligible shareholders on 28 September 2022.
Things to know about Coles:
Coles is an Australian public firm with multiple retail chains across the entire country. Coles primarily deals with the retail business of food staples, groceries, and beverages through its flagship Coles Supermarket chains. The company is also involved in the sale of liquor and petroleum through Coles Liquor and Coles Express outlets in Australia.
