The share prices of Washington H. Soul Pattinson (ASX:SOL) and Coles Group Ltd (ASX:COL) have been making waves in the ASX market lately. SOL has seen an impressive 20.5% jump since the beginning of 2024, while COL is currently trading 13% below its 52-week high. Here's why you might want to consider adding these ASX Blue-chip stocks to your watchlist.
Washington H. Soul Pattinson (ASX: SOL)
Founded in 1903, Washington H. Soul Pattinson (ASX: SOL) is more than just an investment company—it's a cornerstone of the ASX. With a diversified portfolio spanning various industries and asset classes, SOL offers investors exposure to a range of well-established companies. Some of its largest holdings include stakes in TPG Telecom (ASX: TPG), New Hope Group (ASX: NHC), and a cross-shareholding in Brickworks (ASX: BKW).
SOL's mission is clear: to deliver superior returns to its shareholders through capital growth and steadily increasing dividends. As the second-oldest publicly listed company on the ASX, SOL boasts a strong track record of both. Think of it as a family-run LIC (Listed Investment Company), deeply aligned with the interests of its shareholders.
COL Share Price
Coles Group Ltd (ASX: COL) is a household name in Australia, providing customers with essential products ranging from fresh food and groceries to general merchandise, liquor, fuel, and financial services. Founded in 1914 and headquartered in Victoria, Coles has remained a go-to destination for millions of Australians week after week.
Formerly owned by conglomerate Wesfarmers, Coles was spun off and listed as a separate entity on the ASX in 2018. While its earnings are predominantly driven by its supermarkets, Coles also operates adjacent businesses like flybuys, Liquorland, and Coles Express.
Assessing Investment Potential
When evaluating SOL's share price, one metric worth considering is its dividend yield over time. Currently, SOL shares offer a dividend yield of around 2.88%, which is higher than its 5-year average of 2.54%. This suggests that SOL shares are trading below their historical average dividend yield, presenting a potential buying opportunity for investors.
Both SOL and COL offer compelling investment opportunities for ASX investors. SOL provides diversified exposure to various industries with a focus on delivering long-term returns, while COL serves as a staple in the Australian retail landscape, catering to the everyday needs of millions. With SOL trading below its historical dividend yield and COL positioned as a key player in the retail sector, adding these stocks to your watchlist could prove beneficial for your investment portfolio.
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