Insights

Need a COVID test? Now you can buy one at Coles (ASX:COL) or Woolies

Rapid-antigen tests will be available in supermarkets from 1 November.
The post Need a COVID test? Now you can buy one at Coles (ASX:COL) or Woolies appeared first on The Motley Fool Australia. –

While the Coles Group Ltd (ASX: COL) share price is down, there is news that may excite shareholders in it or Woolworths Group Ltd (ASX: WOW).

From 1 November, both supermarket giants will begin selling at-home, rapid antigen testing (RAT) for COVID-19.

At the time of writing, shares in Coles are trading for $17.16 – down 2.05%. Meanwhile, the Woolworths share price is 4.10% lower to $38.81. To be clear, there is no suggestion today’s news on RAT has any correlation with the share price movement. In fact, for Woolworths, today was also the day the company released its Q1 update.

Let’s take a closer look.

It’s going to be easier to get a COVID test

After the Therapeutics Goods Administration (TGA) approved the use of at-home RAT last month, Coles and Woolworths have announced they will sell the product in their stores from 1 November. This is the date the TGA is slated to begin using these tests.

According to the Australian Broadcasting Corporation (ABC), Woolworths said the kits could already be pre-ordered and would sell for between $10 and $15 per test.

“Rapid antigen testing is helping protect our distribution centre team members across Australia from COVID-19,” a Woolworths spokesperson told the outlet.

While less accurate than PCR testing (the one done at COVID testing clinics), the results are quicker to obtain and it is easier to do. It only requires a person to provide a small sample of saliva, and then results would be ready in 20 minutes.

Coles says it will sell the product in select stores in every state except South Australia and Western Australia.

These new products may give a boost to the supermarket’s revenue. Revenue, of course, can determine how much dividends a company pays. The amount of dividends Coles pays is highly likely to influence the Coles share price.

Coles share price snapshot

Over the past 12 months, the Coles share price has increased 0.29%. Year-to-date, shares in the supermarket are down 7.24%. It is underperforming the ASX 200 when compared to both timeframes.

Since listing on the ASX nearly 3 years ago, shares in the company have appreciated 35.5%. Coles has a 52-week high of $18.94 and a 52-week low of $15.27 per share.

Coles Group has a market capitalisation of approximately $23 billion.

The post Need a COVID test? Now you can buy one at Coles (ASX:COL) or Woolies appeared first on The Motley Fool Australia.

Should you invest $1,000 in Coles right now?

Before you consider Coles, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Coles wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

ASX 200 (ASX:XJO) midday update: A2 Milk crashes, Woolworths tumbles

Woolworths (ASX:WOW) share price slides after Q1 earnings update

5 things to watch on the ASX 200 on Wednesday

Own Coles (ASX:COL) shares? Here’s the retailer’s latest push for supremacy

Leading brokers name 3 ASX shares to sell today

Motley Fool contributor Marc Sidarous 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 owns shares of 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 Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!