Woolworths Group's Share Price Drop in 2024

2 min read | October 24, 2024 02:30 PM AEDT | By Team Kalkine Media

Google News:

Woolworths Group's Share Price Drop in 2024 — Image source: Shutterstock

Recent News

Why Xero (ASX:XRO) Remains a Growth Stock to Watch This July

What Makes Aura Energy (ASX:AEE) Worth Watching Now?

Why Is Pro Medicus (ASX:PME) in Focus as ASX 200 Opens the Week?

What Makes Commonwealth Bank (ASX:CBA) a Dividend Stock to Watch?

Make Kalkine Media
My Trusted Source

Highlights

Woolworths Group shares have dropped by over 11% in 2024.

Carsales.com share price is 40.3% off its 52-week low.

WOW maintains a strong position with a 35% share in the Australian grocery market.

Woolworths Group Ltd (ASX:WOW) has seen a significant dip in its share price since the start of 2024, dropping by around 11.5%. As one of the largest retail operators in Australia and New Zealand, Woolworths runs over 3,000 stores and employs more than 100,000 people. The company’s operations extend beyond groceries, with Big W discount stores and a business-to-business (B2B) division under the PFD brand.

The Australian grocery market remains one of Woolworths’ core strengths, holding over 35% of the market share. Its supermarket operations, under the Woolworths brand in Australia and Countdown in New Zealand, are central to its revenue streams. Despite the share price drop, the company continues to provide a defensive earnings stream, with a strong focus on consumer staples.

One key factor that continues to attract attention is Woolworths’ consistent dividend payments. Historically, the company has offered fully franked dividends, often yielding above 3%. Currently, the dividend yield sits around 4.34%, surpassing its 5-year average of 2.92%. This higher yield may indicate either a drop in share price or an increase in dividend payouts.

Carsales.com (ASX:CAR)

Carsales.com Ltd, an online marketplace specializing in car, motorbike, and boat advertisements, is another stock that has caught attention in 2024. The company’s share price is currently 40.3% off its 52-week low, indicating significant movement in the market. Carsales.com has grown since its founding in 1997 and now serves markets beyond Australia, including countries in South America and Southeast Asia.

With a platform designed to streamline transactions, Carsales.com has earned a strong reputation for providing a secure and efficient environment for both buyers and sellers. The company continues to expand its reach, with over 600 employees and a growing presence internationally.

Both Woolworths and Carsales.com remain key players in their respective industries, despite recent fluctuations in their share prices.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.