Endeavour share price outperforms on Tuesday to smash new, all-time high

It’s been a pleasing day for the S&P/ASX 200 Index (ASX: XJO) so far this Tuesday. At the time of writing, the ASX 200 has added another 0.54% and is back to over 7,100 points. But it’s been even better for one ASX 200 share – Endeavour Group Ltd (ASX: EDV).

Endeavour shares are smashing the market’s returns for one. The bottle shop and pub owner is currently enjoying a 2.57% gain to $8.185 a share at the time of writing. But that’s not the biggest piece of news today.

Rather, it’s Endeavour’s fresh new all-time high. Yep, earlier this morning, the Endeavour share price climbed as high as $8.27 a share. This is both the company’s new 52-week and record high.

Sure, Endeavour has only been listed on the ASX in its own right since June last year. That was when the company was spun out of its old parent Woolworths Group Ltd (ASX: WOW). But it’s still a big day for Endeavour and its shareholders nonetheless.

Endeavour share price hits new record high

There’s been no news out of the company today that might explain this latest push into record territory. Indeed, no news out from Endeavour this month so far. So perhaps investors are getting in before Endeavour reports its FY2022 full-year earnings on 23 August next week.

As we covered earlier this month, more than one expert investor has been eyeing off Endeavour shares recently too. So that could also be influencing sentiment.

But Endeavour has been on quite the run since its ASX listing last year. In 2022 thus far, the Endeavour share price is up a healthy 20% or so, vastly outperforming the broader ASX 200 index. This remains almost 6.5% lower than it was at the start of the year today.

Endeavour shares are also up by close to 14% over the past 12 months, and by 33.6% since its ASX debut in June last year.

At the current Endeavour share price, this ASX 200 consumer staples share has a market capitalisation of $14.7 billion, with a dividend yield of 3.07%.

The post Endeavour share price outperforms on Tuesday to smash new, all-time high appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Sims share price slips despite stellar growth in FY22
• Why is the Rio Tinto share price lagging the ASX 200 on Tuesday?
• ASX 200 shrugs off prospect of further rate rises revealed in RBA minutes
• Is the Bendigo Bank share price in the buy zone following Monday’s sell-off?
• SG Fleet share price rises on FY22 earnings increase

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/4OdyoA0