3 ASX 200 shares defying today’s sell-off to surge higher

The S&P/ASX 200 Index (ASX: XJO) is sliding 1.85% today, but three ASX 200 shares are soaring higher.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH), Coles Group Ltd (ASX: COL), and Endeavour Group Ltd (ASX: EDV) shares are all lifting today.

Let’s take a look at why these ASX 200 shares are performing so well.

Fisher & Paykel

The Fisher & Paykel share price is currently lifting 1.77%. In news today, Fisher & Paykel has entered a sale and purchase agreement to acquire land for a new campus in New Zealand.

Subject to approval from the Overseas Investment Office, the company will acquire a 105-hectare site in Karaka, Auckland. This will cost $275 million.

Commenting on the news, Fisher & Paykel CEO Lewis Gradon said:

Over time, this world-class campus will house a large number of employees in R&D, pilot manufacturing and related roles, providing a major boost to the local area.

Coles

The Coles share price is currently rising 1.31%. Woolworths Group Ltd (ASX: WOW) shares are also rising 0.46% today.

Some investors may be buying up Coles shares before it trades ex-dividend tomorrow. New shareholders will not be eligible for the final FY22 fully franked dividend of 30 cents per share after the ex-dividend date.

Coles is paying total dividends of 63 cents per share in FY22, 3.3% more than the previous financial year. The final FY22 dividend will be paid on 28 September. Coles reported a 2% lift in earnings before interest, tax, depreciation and amortisation (EBITDA) in FY22 to $3.4 billion, while sales revenue lifted 2% on the previous year to $39.4 billion.

Endeavour Group

It’s also proving a good day for the Endeavour share price, which is climbing 2.68% to $7.47 at the time of writing. The ASX 200 Consumer Staples Index (ASX: XSJ) is also climbing 0.89% today.

Recently, Goldman Sachs rated the Endeavour share price as a buy with an $8.10 price target. Goldman said, “we continue to see that EDV has one of the most loyal consumer bases in retail”.

Endeavour’s net profit after tax (NPAT) lifted 11.2% on the previous year in FY22 to $495 million. Endeavour traded ex-dividend on Thursday. A final fully franked dividend of 7.7 cents is due to be paid on 16 September.

The post 3 ASX 200 shares defying today’s sell-off to surge higher appeared first on The Motley Fool Australia.

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More reading

• Hoping to bag the boosted Coles dividend? Here’s what you need to do
• Here are 5 ASX 200 shares going ex-dividend tomorrow
• Keen to pocket the Woolworths dividend? You’d better be quick!
• 5 ASX 200 shares turning ex-dividend on Wednesday
• 2 ASX 200 dividend shares to buy now according to analysts

Motley Fool contributor Monica O’Shea 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 positions in and has recommended COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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