Tag: Motley Fool

Cryptocurrency owners better check that they’re reporting their transactions the right way.

That’s the message from the Australian Taxation Office (ATO), which revealed this week five tips for crypto investors to double-check as tax time begins in earnest.

ATO assistant Commissioner Tim Loh empathised with crypto holders who could think the tax implications are complicated.

“That’s why our focus is on helping people get it right,” he said.

“Over one million taxpayers will have a message appear as a reminder when they prepare their tax returns saying they may have capital gains or capital losses from crypto to declare.”

1. Crypto is an asset that attracts capital gains tax

According to the ATO, “generally” cryptocurrencies are an asset for capital gains tax (CGT) purposes.

This means taxpayers must report when there has been a “disposal” of such an asset. Such an event could occur when an investor:

• Trades, sells or gifts crypto
• Exchanges one cryptocurrency for another cryptocurrency
• Converts crypto to a fiat currency, such as Australian dollars
• Spends crypto in return for goods or services

After such an event, the investor will either have a capital gain or a loss, which needs to be reported in tax returns. This is why records of all crypto transactions need to be kept somewhere.

Like any other CGT asset, an investor could be eligible for a 50% discount on the tax liable if they’ve held the crypto for longer than 12 months.

2. What if there is a capital loss?

This is especially relevant for the financial year just ended, as most cryptos have plunged in value.

The ATO reminded taxpayers that a capital loss can only be claimed upon disposal. Paper losses, like Bitcoin (CRYPTO: BTC)’s value merely plummeting, can’t be claimed as a capital loss.

Capital losses can’t be offset against other income, like from your day job. But it can offset capital gains from the same year or be carried forward to be used in future years.

3. What if I received income from crypto?

An investor may have eked out an income from crypto, through activities like staking or airdrops.

These payments must be included in tax returns under “other income”.

“Whether you receive income in the form of Australian dollars or crypto assets, you need to make sure the correct information is included in your tax return,” said Loh.

4. Record keeping

The ATO warns crypto investors to keep immaculate records of when they bought or sold cryptos.

Each cryptocurrency is a separate CGT asset, the office cautioned.

“Keeping good records gives the ATO confidence you are reporting correctly and can reassure you that you are claiming everything you are entitled to,” said Loh.

“It’s vital that you keep accurate records including dates of transactions, the value in Australian dollars at the time of the transactions, what the transactions were for, and who the other party was, even if it’s just their wallet address.”

5. Data matching

The tax office reminded Australians that their activities are being tracked in the background.

Money trails can be traced back to taxpayers using data from banks and crypto exchanges.

“We are able to match this data to individuals transacting in crypto assets, so don’t forget to include gains and losses in your tax return,” said Loh.

The ATO also reminded investors that correcting their return retrospectively will not be penalised. But ignoring errors could have later consequences, such as an audit.

The post 5 warnings from the ATO for crypto investors appeared first on The Motley Fool Australia.

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More reading

• Will the US Fed continue to influence the Bitcoin price in the 2023 financial year?
• Here’s Bitcoin’s only path to $300,000
• Why are Bitcoin miners shutting down in Texas?
• Is the Bitcoin price heading down to US$10,000? Here’s Wall Street’s take
• What went so right and so wrong for the Bitcoin price in the 2022 financial year?

Motley Fool contributor Tony Yoo has positions in Bitcoin. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin. The Motley Fool Australia has positions in and has recommended Bitcoin. 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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The financial year just gone wasn’t a particularly kind one to ASX shares and investors. Over FY 2022, the S&P/ASX 200 Index (ASX: XJO) dropped by a meaningful 10.19%. It wasn’t much better for the Washington H. Soul Pattinson and Co Ltd (ASX: SOL) share price. In fact, it was worse.

Soul Patts shares started the financial year at $33.73 each. But by 30 June last month, the industrial conglomerate finished up at just $23.54. That’s a drop of just over 30%, almost triple the losses of the ASX 200. Ouch.

But now that nasty year is out of the way, and we are well into FY 2023, what might the next 12 months hold in store for Soul Patts shares?

What will guide the Soul Patts share price in FY 2023?

Well, it’s hard to predict the movements of any ASX share, whether that be over a day, week, month or year. But it’s arguably even harder to assess what could happen to this particular company.

That’s because most of its value comes from the large share portfolio that the company holds within it – a share portfolio made up of dozens of other ASX shares.

Until October last year, Soul Patts only owned a relatively small number of ASX portfolio holdings, as well as some unlisted assets. These include positions in Brickworks Limited (ASX: BKW), New Hope Corporation Limited (ASX: NHC), BKI Investment Company Ltd (ASX: BKI), and TPG Telecom Ltd (ASX: TPG).

But in October, Soul Patts acquired the listed investment company (LIC) Milton Corporation. Milton already had a large portfolio of mostly ASX blue-chip shares, which is of course now owned by Soul Patts.

Almost half of the Soul Patts investment portfolio is still concentrated on its ‘strategic portfolio’, which includes the stakes in the companies listed above, but excludes the shares inherited from Milton.

So going into this financial year, it’s a fair bet that the Soul Patts share price will be guided by what happens to its largest holdings – mainly Brickworks, New Hope, and TPG.

If the entire ASX does well, it’s likely to lift up the Soul Patts share price even further, given the company still owns Milton’s ASX 200-aligned cache of shares.

But if you’re itching to watch how Soul Patts shares navigate the current financial year, make sure to keep an eye on those three companies.

 

The post Own Soul Patts shares? Here’s what to look out for in FY 2023 appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Australia’s unemployment rate is at a 48-year low. What’s this mean for ASX 200 shares?
• Why is the Newcrest share price slipping to a new 52-week low on Friday?
• ASX 200 midday update: Rio Tinto’s update, BHP and Fortescue sink, AVZ remains suspended

Motley Fool contributor Sebastian Bowen has positions in Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended TPG Telecom Limited. 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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The case for raising interest rates further strengthened this week when the United States announced a 40-year high for inflation at 9.1%, which was well beyond consensus expectations. We also found out that the Australian jobs market is even tighter with unemployment falling again to a 48-year low of just 3.5%.

During times of increasing uncertainty and volatility, many investors gravitate to ASX dividend shares for their potential to deliver regular returns that may outperform share price gains.

On that note, we asked our Foolish contributors to compile a list of ASX dividend shares that they reckon could make great buying for income investors in July. Here is what the team came up with.

8 best ASX dividend shares for July 2022 (smallest to largest)

Dusk Group Ltd (ASX: DSK), $123.9 million

AUB Group Ltd (ASX: AUB), $1.7 billion

Dicker Data Ltd (ASX: DDR), $2.15 billion

Charter Hall Long WALE REIT (ASX: CLW), $3.17 billion

Wesfarmers Ltd (ASX: WES), $51.83 billion

Macquarie Group Ltd (ASX: MQG), $65.48 billion

Westpac Banking Corp (ASX: WBC), $69.64 billion

National Australia Bank Ltd (ASX: NAB), $90.38 billion.

(Market capitalisations as of 14 July 2022)

Why our Foolish writers love these ASX dividend shares

Dusk Group Ltd

What it does: Dusk is a retailer that specialises in candles, fragrances, and other homewares.

By Sebastian Bowen: Dusk is one of those companies that boomed during COVID but now seems to have lost favour with investors.

Although the company has staged something of a comeback in the past month, it remains down more than 35% over the year to date. However, this steep fall has pushed Dusk’s dividend yield up substantially.

On recent pricing, Dusk shares offer a fully franked yield of more than 9.5% (or 13.5% grossed-up).

Even if Dusk has to trim its dividends this financial year (which is very possible), that 9.5% gives the company a lot of wiggle room to still offer investors a very attractive yield going forward.

By Aaron Teboneras: The Dicker Data share price has continued to travel higher since the start of the month, up 14.6%.

The company is expected to reveal its next quarterly dividend in the upcoming earnings season in August.

For the first interim dividend declared on 11 May, Dicker Data paid 13 cents per share to eligible shareholders.

With the company previously proposing to maintain its dividend policy, this could be a good option for income investors.

The total dividends expected to be paid this year are 54 cents per share, an increase of 44%. This includes the final dividend of 15 cents per share paid in March.

Based on the share price at the time of writing, Dicker Data has a trailing dividend yield of 3.69%.

Motley Fool contributor Aaron Teboneras owns shares in Dicker Data Ltd.

Charter Hall Long WALE REIT

What it does: Charter Hall Long WALE REIT is a real estate investment trust (REIT) that owns a diversified portfolio of properties across a number of different sectors. These include agri-logistics, social infrastructure, office, industrial and logistics, retail, service stations, and hospitality. The REIT says 99% of its tenants are blue chip, being government, ASX-listed, multinational, or national companies.

By Tristan Harrison: The REIT has a net tangible asset (NTA) per unit of $6.08 after its latest quarterly update, so the current Charter Hall Long WALE REIT share price is at a 27% discount to this.  

It has a long weighted average lease expiry (WALE) of around 12 years, meaning the business has long-term income security and visibility, in my opinion.

Income growth is driven by annual rent increases on all leases, with 46% linked to CPI inflation and 54% with an average fixed increase of 3.1%.  

The estimated distribution of at least 30.5 cents in FY22 translates to a forward yield of 6.9%. 

Motley Fool contributor Tristan Harrison does not own shares in Charter Hall Long WALE REIT.

Wesfarmers Ltd

What it does: Wesfarmers is a diversified company with a large retail portfolio including many top names like Bunnings Warehouse, Kmart, Target and Officeworks. The company also has energy & fertiliser and industrial divisions.

By Bernd Struben: Wesfarmers has long been a reliable dividend payer, making two annual payments even throughout the 2020 pandemic crunch.

Over the past five years, the company has paid out $10.49 in fully franked dividends. In FY22, it paid out $1.70, giving it a current trailing dividend yield of 3.8%.

In the first half of FY22, Wesfarmers earned $17.6 billion in revenue, with 51% of that coming from Bunnings. Yet investors pushed down the share price amid sliding profits due to pandemic headwinds. Net profit after tax (NPAT) in H1FY22 was down 14% year over year.

With the pandemic hopefully fading, and Wesfarmers expanding its reach with a new health division, this is an income stock to consider.

Motley Fool contributor Bernd Struben does not own shares in Wesfarmers.

Macquarie Group Ltd

What it does: Macquarie is a financial services giant. It provides banking, asset management, and advisory services. 

By Brooke Cooper: Macquarie is an S&P/ASX 200 Index (ASX: XJO) staple and one of the market’s largest companies. It’s also been tipped as a long-term winner by broker Morgans, The Motley Fool Australia’s James Mickleboro recently reported.  

The broker likes the company’s exposure to infrastructure and renewables, as well as its growing position in the Australian mortgage market. 

Macquarie is currently trading with a yield of around 3.6%, having paid out $6.22 per share in dividends over the past 12 months. And Morgans expects that to grow in the future. 

The broker believes the stock will offer investors $7.07 per share in dividends this financial year. It’s also tipping $7.47 per share next financial year. 

Motley Fool contributor Brooke Cooper does not own shares in Macquarie Group Ltd.

Westpac Banking Corp

What it does: Established in 1817, Westpac is Australia’s oldest bank. As well as the eponymous Westpac brand, it owns the Bank of Melbourne, Bank SA, RAMS, and St George brands.

By James Mickleboro: It has been a difficult 12 months for this big four bank. Since this time last year, the Westpac share price has lost 20% of its value.

This has been driven partly by concerns that Australia could fall into a recession, which could put pressure on loan growth and bad debts.

While this is disappointing, I think the risks are all known and priced in now and this could be a buying opportunity for investors. Especially those that are looking for attractive yields as inflation rears its ugly head.

Consensus estimates for Westpac dividends are $1.23 per share in FY22, $1.29 per share in FY23, and then $1.46 per share in FY24.

Based on the current Westpac share price, this will mean yields of about 6.1%, 6.4%, and 7.2% respectively.

Motley Fool contributor James Mickleboro owns shares in Westpac Banking Corp.

National Australia Bank Ltd

What it does: NAB is one of the big four banks in Australia. It provides banking and financial services here in Australia and New Zealand. NAB also has operations in the United Kingdom and the United States. It is valued at a $90.2 billion market capitalisation.

By Zach Bristow: Trading on a respectable 5% trailing dividend yield, the National Australia Bank Ltd (ASX: NAB) share price is another ASX dividend player worth mentioning. 

NAB is forecast to print revenue of $20 billion this year, according to Refinitiv consensus data. On this revenue, it is projected to claim around $7 billion in net income. That’s around a 7% year-over-year gain. 

That leaves a sizeable amount left over to return to shareholders. 

Analysts forecast NAB to pay a $1.48 per share dividend in FY22, with this figure growing to $1.61 in FY23, and $1.73 in FY24, per Refinitiv. 

This represents a growth schedule of 16.5%, 8.9%, and 7.4% over these coming two years. That’s well ahead of the current level of inflation.

Motley Fool contributor Zach Bristow does not own shares in National Australia Bank.

The post Top ASX dividend shares to buy in July 2022 appeared first on The Motley Fool Australia.

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More reading

• Macquarie shares ‘a clear beneficiary’ of global green energy push: fundie
• Setting the pace: Why ASX 200 bank shares are feeling the pinch on Friday
• Here’s what might happen to the NAB share price in FY2023
• Why analysts say these excellent ASX dividend shares are buys
• Why the yield you’re getting on ASX dividend shares may not be as advertised

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Dicker Data Limited. The Motley Fool Australia has positions in and has recommended Dicker Data Limited and Wesfarmers Limited. The Motley Fool Australia has recommended Austbrokers Holdings Limited, Dusk Group Limited, Macquarie Group Limited, and Westpac Banking Corporation. 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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If you’re wanting to pick up some blue chip shares, then the two listed below could be top options.

Both of these ASX 200 blue chips have been rated as buys by brokers recently. Here’s what they are saying:

Woolworths Group Ltd (ASX: WOW)

The first ASX 200 blue chip share that could be in the buy zone is retail giant Woolworths.

Analysts at Goldman Sachs are feeling very positive about the company even in the current environment. In fact, the broker is forecasting solid sales growth and even stronger earnings growth through to FY 2024.

Goldman explained:

We are encouraged by the resilience and superior operations of WOW and reiterate our unchanged FY22-24e Sales and EPS CAGR of 6.9% and 14.9% respectively. We expect this to be driven by high price growth, well protected GPM and slight EBIT margin expansion as COVID costs roll-off and cost efficiencies continue.

Goldman recently reiterated its buy rating and $41.70 price target on the company’s shares.

Xero Limited (ASX: XRO)

Another blue chip share that could be in the buy zone is cloud accounting platform provider Xero.

The team at Morgans is positive on Xero. Its analysts believe the software company has high quality operations and strong growth potential in an industry with high barriers to entry.

The broker explained:

XRO boasts strong customer advocacy, significant barriers to entry, scalability and LTV at ~7x CAC. It should continue to grow earnings/FCF above economic trend and is profitable and liquid. We rate it highly and it appears others do as well. A key risk is XRO trades on large short-term multiples. If we remove FY22F “investing for growth” CAC, XRO trades on a ~2.2% FCF yield. Rising interest rates are a net negative for XRO’s share price and growth companies. However, XRO should be a top tech exposure due its high quality.

Morgans recently initiated coverage on the company with an add rating and $90.25 price target.

The post Experts name 2 blue chip ASX 200 shares to buy appeared first on The Motley Fool Australia.

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More reading

• What are brokers saying about the Xero share price?
• Analysts name 2 ASX 200 dividend shares to buy now
• Broker names 2 ASX tech shares to buy in July
• ASX 200 midday update: ANZ confirms MYOB talks, energy shares fall
• $264 million! The 10 highest-paid CEOs on the ASX

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 positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. 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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Australian Foreign Minister Penny Wong has spoken with her counterpart Wang Yi, with the latter providing a list of requests to fulfil to restore a tattered relationship.

Wang Yi said Australia should treat China as a partner, not as an opponent, in order to “come to a correct understanding of China”.

The foreign minister also spoke about reversing potential trade barriers in a separate announcement. This could be of benefit to ASX 200 coal shares.

China ready to “take the pulse”

Reports have surfaced suggesting that China is ready to reverse its policy governing a ban on Australian coal imports.

Coal now trades at US$415 per tonne, just off its all-time record of US$427 per tonne set on 2 May.

In a media release on Chinese media on Thursday, Wang Yi also said that China was ready to reset ties with Australia out of mutual respect, Reuters reports.

The state official said that the “Chinese side is willing to take the pulse, recalibrate, and set sail again,” in regards to diplomatic relations.

This would involve refraining from joining with others in trying to contain China, he added.

The language signals a potential turnaround in coal imports into China, particularly as fears around a shortage of Russian supplies grow.

A wind back in supply with high demand would see prices continue surging to new highs, past the record levels already set in 2022.

That would mean China removing restrictions when procuring Australian imports of metallurgical coal.

For ASX 200 miners like Whitehaven Coal Ltd (ASX: WHC) and Yancoal Ltd (ASX: YAL), this could potentially bode in well.

The shares are down and up 1% each respectively today.

The post Will it flip? Rumours stir up interest in ASX 200 coal mining shares appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX shares today
• Here’s why ASX 200 coal shares are firing up today
• ASX 200 midday update: Telstra completes acquisition, Lake Resources and Bega Cheese sink
• Here are the top 10 ASX shares today
• Why Block, Megaport, Navigator Global, and Whitehaven Coal shares are rising

Motley Fool contributor Zach Bristow 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.

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The Bitcoin (CRYPTO: BTC) price is up 2% in the last 24 hours to US$20,574 (AU$30,429).

That puts the world’s largest token by market cap up 7% two weeks into the nascent 2023 financial year (FY23).

FY22, as we covered here, presented two dramatically different halves for the crypto.

The first half saw the Bitcoin price hit all-time highs of US$68,790 on 10 November. The second half saw it sharply reverse course, tumbling 72% by 30 June and notching a 55% fall for the financial year just past.

That was then.

The question crypto investors have now is, what’s ahead in FY23?

What’s ahead for the Bitcoin price in FY23?

Gauging the 12-month price outlook for assets as notoriously volatile as cryptos is no precise science. To say the least.

What we can do is look at what impacted the Bitcoin price over the past year and extrapolate from that what may be in store for FY23.

The real bugbear for most all cryptos in the second half of FY22 was the changing outlook for inflation and interest rates.

Bitcoin and most other risk assets, like high growth tech shares, were riding high in the first half of FY22 based on investor assumptions that inflation and interest rates would remain at historically low levels into 2024, or beyond.

Of course, you know how that assumption worked out.

With inflation numbers running hot, central banks – led by the US Federal Reserve – flip-flopped and began issuing hawkish signals and instituting a series of aggressive rate rises.

This saw cryptos and tech shares crash, with the tech heavy NASDAQ falling 31% from its own record highs in November through to the end of FY22.

As for the Bitcoin price reaction, as eToro’s market analyst and crypto expert Simon Peters explained:

Crypto markets are very sensitive to US markets, in particular to monetary policy decisions from the Fed to combat rising inflation. The raising of interest rates and rising bond yields have affected US equity valuations and, by extension, crypto markets in recent months.

If the correlation between Bitcoin and the Fed’s policies continues through FY23, then the price will follow a similar trend to what we can expect to see on indexes like the NASDAQ.

In other words, keep your eye on the Fed.

But could Bitcoin decouple from equity markets?

Can cryptos decouple from share markets?

Tony Sycamore, market analyst at City Index, noted the Bitcoin price’s surprising strength in the wake of Wednesday’s scorching inflation numbers out of the US.

“Signs of resilience emerged that indicate Bitcoin may be closer to a bottom than some may think,” he said.

According to Sycamore:

The shockingly high inflation numbers postpone expectations for a dovish Fed pivot and have again raised the prospect of more aggressive Fed rate hikes.

In months gone past, this combination would have been enough to see Bitcoin fall into an abyss. However, after initially falling 3% to a low of US$18,905 after the release of the inflation number, Bitcoin closed 4.7% higher at US$20,230. An unexpected sign of strength and decoupling from the equity market.

Mati Greenspan, CEO of Quantum Economics, said there’s no underlying reason why the token should lose ground alongside other risk assets (courtesy of Bloomberg):

At the moment, Bitcoin is correlating downward with other risk assets but there isn’t any fundamental reason for it to do that. Once it breaks correlation with the stock market, Bitcoin’s price will better reflect its true value.

Will FY23 see Bitcoin break its correlation with growth shares?

Time will tell.

The post Will the US Fed continue to influence the Bitcoin price in the 2023 financial year? appeared first on The Motley Fool Australia.

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More reading

• Here’s Bitcoin’s only path to $300,000
• Why are Bitcoin miners shutting down in Texas?
• Is the Bitcoin price heading down to US$10,000? Here’s Wall Street’s take
• What went so right and so wrong for the Bitcoin price in the 2022 financial year?
• Why did the Bitcoin price crash 41% in June?

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin. The Motley Fool Australia has positions in and has recommended Bitcoin. 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) shares tumbled towards the week’s end today, with the materials sector leading the downturn. The index closed 0.68% lower at 6,605.60 points.

It followed a rough session on Wall Street overnight. The S&P 500 Index (SP: .INX) slumped 0.3% in Thursday’s session overseas while the Dow Jones Industrial Average Index (DJX: .DJI) fell 0.46%. Meanwhile, the Nasdaq Composite (NASDAQ: .IXIC) posted a slight gain of 0.03%.

The S&P/ASX 200 Materials Index (ASX: XMJ) plunged more than 3% on Friday, driven lower by commodity prices and quarterly earnings from Rio Tinto Limited (ASX: RIO).  

Most base metals fell overnight. The price of nickel led the fall, slipping 8.3%, while gold futures fell 1.7% to US$1,705.80. Iron ore futures also disappointed, posting a 4.8% tumble to US$104.96.

Today wasn’t all dire, however. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) recorded a gain of around 1%.

At the end of today’s session, five of the ASX 200’s 11 sectors were in the green.

So, which ASX shares defied the downturn to post the biggest gains on Friday? Read on to find out.

Top 10 ASX shares countdown

The best performing share of the ASX’s 200 biggest companies by market capitalisation was none other than Genesis Energy Ltd (ASX: GNE).

The ASX-listed New Zealand electricity generator’s shares lifted around 4% on Friday. Take a look at what the company’s been up to here.

Today’s top 10 biggest gains were made by these ASX shares:

ASX-listed company	Share price	Price change
Genesis Energy Ltd (ASX: GNE)	$2.50	4.17%
WiseTech Global Ltd (ASX: WTC)	$44.13	3.42%
Metcash Limited (ASX: MTS)	$4.25	2.66%
Latitude Group Holdings Ltd (ASX: LFS)	$1.60	2.56%
National Storage REIT (ASX: NSR)	$2.25	2.27%
Charter Hall Group (ASX: CHC)	$11.59	2.2%
Growthpoint Properties Australia Ltd (ASX: GOZ)	$3.61	1.98%
APA Group (ASX: APA)	$12.01	1.95%
ResMed Inc (ASX: RMD)	$33.11	1.94%
Stockland Corporation Ltd (ASX: SGP)	$3.80	1.88%

Data as at 4.30pm AEST.

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

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More reading

• Coles share price claims new 52-week high, could it still be a buy?
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Why Ardent Leisure, Michael Hill, National Storage, and WiseTech shares are rising
• Australia’s unemployment rate is at a 48-year low. What’s this mean for ASX 200 shares?
• Why is the Newcrest share price slipping to a new 52-week low on Friday?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Cochlear Ltd., ResMed Inc., and WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended COLESGROUP DEF SET, ResMed Inc., and WiseTech Global. The Motley Fool Australia has recommended Cochlear Ltd. 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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The ASX 200 index is home to a good number of quality blue chip shares. So many, it can be hard to decide which ones to include in your portfolio.

In order to narrow things down, listed below are two ASX 200 shares that are highly rated right now. They are as follows:

Goodman Group (ASX: GMG)

The first ASX 200 share to look at is Goodman Group. It is a leading global integrated commercial and industrial property company.

Citi is a big fan of the company and has a buy rating and $29.50 price target. It is positive on the company’s outlook largely due to the strong demand for industrial properties and its burgeoning development pipeline.

Citi also believes a recent pullback has created a buying opportunity for investors. It commented

Similar to previous periods, we see FY22 guidance as conservative given strong FUM growth into 4Q22, off the back of development completions and rising asset values (as GMG’s book cap rates are softer than market). Moreover, despite fears, we see the growth outlook as being robust for FY23 as well given solid demand for industrial (which is driving market rental growth above longer-term averages) and ongoing investment demand, which should support asset value and AUM growth. We re-iterate Buy and see the -25% YTD share price decline as a good entry point.

REA Group Limited (ASX: REA)

Another ASX 200 share to look at is property listings company REA Group.

It has been a consistently solid performer over the last decade despite whatever the economy or housing market has thrown at it.

The good news is that the team at Goldman Sachs expect this trend to continue and has put a buy rating and $164.00 price target on its shares. The broker believes REA is a high quality company capable of delivering strong earnings growth in the coming years.

The broker said:

We re-iterate our Buy rating on REA and add it to the ANZ Conviction List, with +34% upside to our revised A$164 TP. As the #1 player in our preferred vertical (audience share), we believe REA is amongst the highest quality names in our coverage, and forecast FY22-25 EBITDA CAGR of +12%.

The post Why experts are tipping these ASX 200 shares as buys appeared first on The Motley Fool Australia.

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More reading

• $264 million! The 10 highest-paid CEOs on the ASX
• The Goodman share price went through a big rollercoaster in FY22
• 2 bargain ASX shares with good times ahead: expert
• Here are the top 10 ASX shares today
• Why this broker sees huge upside for REA share price despite housing market downturn

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 recommended REA Group Limited. 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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The Xero Limited (ASX: XRO) share price is on course to end the week in the red.

At the time of writing, the cloud accounting platform provider’s shares are down almost 1.5% to $85.93.

This means the Xero share price is now down over 40% since the start of the year.

What are brokers saying about the Xero share price?

In light of the poor performance from the Xero share price in 2022, investors may be wondering if it has created a buying opportunity.

The good news is that three leading brokers see value in its shares at the current level.

Here’s what they are saying about Xero:

Citi currently has a buy rating and $108.00 price target on the company’s shares. This implies potential upside of almost 26% for investors. The broker was pleased with its recent price increases. It commented:

We see Xero’s decision to increase prices in ANZ and UK as an indication of the company’s confidence in its position in its core markets. While the changes would not have a full impact in FY23e, we estimate the changes represent a 8% uplift to group ARPU and represents upside to our ARPU forecasts. An increase in churn is a factor to consider especially given the slowing economic outlook

Over at Goldman Sachs, its analysts have a buy rating and $113.00 price target on its shares. This represents potential upside of 31% for the Xero share price. It said:

While noting that the near term remains robust, we do acknowledge the risk of higher churn from SME business challenges and recent price increases. Nevertheless, we see Xero as well-placed to navigate this uncertainty given the stickiness & importance of its software, and lower levels of churn vs. AU overall.

Finally, analysts at Morgans are bullish and recently initiated coverage on its shares with an add rating and a more modest $90.25 price target.

XRO has a significant runway for customer growth with <10% penetration of a 45m+ SMB Total Addressable Market (TAM). We see additional earnings upside from platform / ancillary value-added services and margin expansion.

The post What are brokers saying about the Xero share price? appeared first on The Motley Fool Australia.

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More reading

• Broker names 2 ASX tech shares to buy in July
• ASX 200 midday update: ANZ confirms MYOB talks, energy shares fall
• This broker sees 30% upside for the Xero share price over the next year
• Here’s why Goldman Sachs sees lots of value in the Xero share price
• Down 40% in 2022: Is the Xero share price a buy today?

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 positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. 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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The Coles Group Ltd (ASX: COL) share price defied the broader market’s downturn on Friday to post a new 52-week high, and one broker thinks it could go even higher.

At its highest point today, the Coles share price was trading at $18.97, 1.87% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) has been in the red all day. It’s currently down 0.75%.

So, what might be going on with the supermarket’s stock lately? Let’s take a look.

Coles share price inks new 52-week high

The Coles share price reached its highest point in more than a year on Friday despite the company’s silence.

In fact, the market hasn’t heard price-sensitive news from the supermarket since late April.

So, what might be driving it higher? Well, the Australian Bureau of Statistics found household spending increased in May despite the current inflationary environment earlier this week.

Speaking of, Coles has positive exposure to inflation, my Fool colleague James reported yesterday. On top of that, its sales have been growing and it holds a strong market position.

The supermarket can also pass on higher costs to consumers. In fact, it upped the price of Coles brand milk yesterday due to rising costs associated with sourcing, transporting, and packing the dairy product.

Morgans is one broker excited about the future of the Coles share price. It has reportedly slapped the stock with a $20.65 price target.

It also expects the supermarket giant to up its dividends to 61 cents in financial year 2022 and 64 cents in financial year 2023.

The post Coles share price claims new 52-week high, could it still be a buy? appeared first on The Motley Fool Australia.

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More reading

• Why experts have named these ASX 200 dividend shares to buy
• ASX 200 supermarket shares lead as household spending jumps
• Here’s why the Coles share price had a volatile FY22
• The Coles share price beat the ASX 200 by over 10% in June
• 3 ASX shares that could survive a recession: expert

Motley Fool contributor Brooke Cooper 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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