Experts say these ASX dividend shares are top buys right now

If you’re looking for dividend shares to buy, then the two listed below could be worth a look.

Both have been named as buys by experts recently. Here’s why they are bullish on them:

Macquarie Group Ltd (ASX: MQG)

The first ASX dividend share that could be in the buy zone is this investment bank.

The team at Morgans is positive on Macquarie due to its exposure to long term structural tailwinds. It explained:

We continue to like MQG’s exposure to long-term structural growth areas such as infrastructure and renewables. The company also stands to benefit from recent market volatility through its trading businesses, while it continues to gain market share in Australian mortgages.

Morgans has an add rating and $214.33 price target on the company’s shares.

In respect to dividends, the broker is expecting partially franked dividends of $7.05 per share in FY 2023 and $7.36 per share in FY 2024. Based on the current Macquarie share price of $187.00, this will mean yields of 3.8% and 3.9%, respectively.

Universal Store Holdings Ltd (ASX: UNI)

Another ASX dividend share to consider is this youth fashion retailer.

Goldman Sachs is a fan of Universal Store and has just named it as a key pick. The broker is positive due to the company’s exposure to younger consumers, which it expects to continue spending in 2023.

It also believes that a recent update from an industry peer is supportive of its bullish view on Universal Store. It commented:

UNI a key pick into 1H23 results: the positive demand backdrop reported by AX1 gives us incremental confidence in the youth consumer discretionary category during the key holiday promotional period. Our monitoring of promotions and web traffic suggests UNI is performing in-line with our expectations and showing discipline with discounting.

Goldman Sachs has a buy rating and $7.55 price target on its shares.

As for dividends, the broker is expecting fully franked dividends of 26.1 cents in FY 2023 and 29.9 cents in FY 2024. Based on the latest Universal Store share price of $5.71, this equates to yields of 4.6% and 5.2%, respectively.

The post Experts say these ASX dividend shares are top buys right now appeared first on The Motley Fool Australia.

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More reading

• Top brokers name 3 ASX shares to buy next week
• $20,000 invested in these ASX shares 10 years ago is worth how much now?
• Morgans names 8 ASX retail shares to buy
• Buy Macquarie and this ASX 200 dividend share: analysts
• Goldman Sachs names 2 ASX dividend shares to buy now

Motley Fool contributor James Mickleboro 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 Macquarie Group. 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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