The Costa Group Holdings Ltd (ASX: CGC) share price is on course to end the week in the red.

The horticulture company’s shares are down over 3.5% to $3.18 in early trade.

Why is the Costa share price dropping lower?

Investors have been selling Costa’s shares following the release of its annual general meeting presentation this morning.

After losing its chief financial officer earlier this month, today’s update reveals that another senior executive is on the way out. This time around it is Chief Executive Officer Harry Debney that is leaving.  

According to the update, after over 10 years leading the company, Mr Debney plans to retire from the role within the next nine months. As such, the company and chief executive are currently in discussions regarding an orderly retirement transition plan. This includes looking internally an externally for a successor.

What else did the company announce?

After acknowledging that 2019 was a difficult year, management appears pleased with its performance year to date. Especially given the headwinds it faced early in the year.

The company notes that the majority of its core produce categories are now experiencing positive demand and pricing from the retail sector. Furthermore, its farming operations are meeting yield and quality expectations.

However, while there are no adverse effects from COVID-19 on its production, it notes that mitigation costs are considerable.

These costs relate to an action plan the covers daily temperature testing, heightened hygiene protocols, and social distancing procedures. It has also had to deal with a fractured supply chain, from logistics through to ensuring it had an adequate labour force to meet its harvest needs.

As a result, the company has no plans to reinstate any form of guidance for FY 2020 at this time. Which means investors may have to wait patiently until its results in August to see how the company is truly performing.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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Although a number of shares have been hitting 52-week or record highs this week like Afterpay Ltd (ASX: APT), not all shares are trading close to these levels.

A few top ASX shares are still trading at levels which I think make them cheap. Here’s why I would buy them:

Aristocrat Leisure Limited (ASX: ALL)

The Aristocrat Leisure share price is down 30% from its 52-week high. The catalyst for this decline has been the closure of casinos during the pandemic. As well as losing out on potential sales, the company was missing out on daily fees for its poker machines. The good news is that casinos are reopening and demand should soon pick up for its industry-leading machines. Another positive is that during the pandemic the company’s digital business has been booming. It now has 7.3 million daily active users playing its games which are generating significant recurring revenues.

Sydney Airport Holdings Pty Ltd (ASX: SYD)

The Sydney Airport share price has fallen 35% from its 52-week high. This has of course been driven by the collapse in tourism because of the pandemic. However, I feel this decline has been excessive and created a buying opportunity for patient investors. Especially with tourism markets likely to start recovering in the coming months. I expect domestic tourism to begin its recovery in the near future, with international tourism to follow in 2021. Based on this, I believe the company’s dividend could return to previous levels in 2022.

Telstra Corporation Ltd (ASX: TLS)

The Telstra share price is down 20% from its 52-week high, which I think is a buying opportunity for investors. This is because after years of struggles, the telco giant appears to be close to returning to growth. Especially given the early success of its T22 strategy, which is creating a much leaner operation. Combined with easing NBN headwinds and the arrival of 5G internet, I think Telstra could prove to be a great long term investment.

More reading

• 10 quality ASX shares to buy in June
• Is the Telstra share price a buy?
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• Where will the Telstra share price be next year?
• These beaten down ASX shares could be bargain buys

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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S&P/ASX 200 Index (ASX: XJO) tech stocks have been volatile in 2020, but it has been a mixed bag of performances. Not every ASX 200 tech share has performed as well as Afterpay Ltd (ASX: APT) this year, which means there are many still in the buy zone.

Here are a couple of my top picks that are trading at a good price today.

2 ASX 200 tech shares I’d like to buy today

I think Xero Limited (ASX: XRO) shares are worth a look right now. The Xero share price has rocketed 343.86% higher in the last 5 years but has edged just 6.25% higher in 2020.

Xero provides accounting software platform to small and medium-sized businesses and could see steady earnings despite the coronavirus pandemic.

While some customers may not renew their subscriptions, I think the complexity arising from the JobKeeper stimulus package could be where Xero comes into its own. That’s good for earnings and the Xero share price.

I also like the look of Altium Limited (ASX: ALU) shares right now.

Altium provides electronics design software for engineers who design printed circuit boards. As the global economy emerges from hibernation, I think business could pick up again for this Aussie tech group.

Altium shares are up 19.77% this year, which means its already a strong performer. However, it is currently trading at $37.02 per share (at the time of writing), compared to an all-time high of $42.76.

I think Altium could be an ASX top 50 or even top 20 share within the next decade. With a $4.85 billion market capitalisation right now, Altium is well-placed to capitalise on the changing tech scene here in Australia.

Foolish takeaway

Both Altium and Xero are successful ASX 200 tech shares that have rocketed higher in recent years.

However, I think a recovering economy and strong client base could be the key to boost both share prices even higher in 2020.

More reading

• Why I think the CSL share price is a strong buy today
• 10 quality ASX shares to buy in June
• 5 things to watch on the ASX 200 on Friday
• ASX 200 rises again, ASX banks push higher
• Are ASX bank shares finally back in the buy zone?

Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Xero. The Motley Fool Australia owns shares of Altium. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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