Buy Woolworths and these ASX dividend shares

Are you looking for ASX dividend shares to buy? If you are, it could be worth checking out the three listed below.

They have all been named as buys by analysts at Goldman Sachs following their results releases last month. Here’s what you need to know:

Endeavour Group Ltd (ASX: EDV)

The first ASX dividend share that its analysts are bullish on is Endeavour. It is the drinks giant behind BWS and Dan Murphy’s.

Goldman Sachs feels its valuation is attractive given its “clear market leading position.” It has a buy rating and $6.20 price target on the company’s shares.

As for income, the broker is forecasting fully franked dividends of approximately 22 cents per share in FY 2024 and FY 2025. Based on the current Endeavour share price of $5.37, this will mean dividend yields of 4.1% for both years.

Suncorp Group Ltd (ASX: SUN)

Insurance giant Suncorp could be another good option for income investors according to Goldman.

The broker has a buy rating and $16.25 price target on the company’s shares.

As for dividends, Goldman is forecasting fully franked dividends per share of 77 cents in FY 2024 and 82 cents in FY 2025. Based on the current Suncorp share price of $15.36, this will mean yields of 5% and 5.3%, respectively.

Woolworths Limited (ASX: WOW)

A final ASX dividend share that has been named as a buy is Woolworths Group. It is the retail giant behind the Woolworths supermarkets and Big W brands.

Goldman remains very positive on the company and has it on its APAC conviction list. This is due to its belief that it can win market share from its omni-channel advantage and loyalty program.

The broker currently has a conviction buy rating and $40.40 price target on Woolworths shares.

In respect to dividends, Goldman is forecasting fully franked dividends per share of $1.09 in FY 2024 and $1.17 in FY 2025. Based on the current Woolworths share price of $32.68, this will mean yields of 3.3% and 3.6%, respectively.

The post Buy Woolworths and these ASX dividend shares appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Endeavour Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. 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.

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