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The 2 ASX food shares that hit 52 week highs today

Us Aussies love our food. So, it makes sense these 2 food shares have been relishing their time of the ASX, reaching 52 week highs today.
The post The 2 ASX food shares that hit 52 week highs today appeared first on The Motley Fool Australia. –

garden vegetables

Us Aussies love our food. So, it makes sense these 2 food shares have been relishing their time on the ASX, each reaching 52 week highs today.

Investors who got on board these tasty ASX shares this time last year will be rejoicing.

Let’s take a look at the year that’s been for these 2 ASX food shares.

Costa Group Holdings Ltd (ASX: CGC)

The Costa Group share price was minimally impacted by last year’s recession, having had a rotten performance through 2019. But, it seemed to be recovering nicely. Today, it’s trading at its highest share price on the ASX in 52 weeks.

Costa Group is an Australian horticultural company. It grows, packs and markets fresh fruit and vegetables.

This time last year, the Costa Group share price was $2.87. Since then, it’s gained a whopping 66.5% and shares in the company are trading for $4.78.  

The last 12 months have been good to Costa Group. The company released stellar half year results, signed a lease implementation deed with Macquarie Infrastructure and Real Assets, and brought on a new CEO.

Costa Group has a market capitalisation of around $1.9 billion, with approximately 400 million shares outstanding.

Bega Cheese Ltd (ASX: BGA)

Bega Cheese has had a good 52 weeks on the ASX, with today marking its highest share price since 2018.

At the time of writing, shares in the company are going for $6.52. This time last year, its shares were swapping hands for $5.21. That’s an increase of 25% over the last 12 months.

Over the last year, Bega has acquired Lion Dairy & Drinks and won a lawsuit over Fonterra to use its brand on Vegemite and peanut butter.

At this point in time, Bega is only 15% lower than its all-time highest closing price. Meaning, all eyes will be on the company over the next few months to see if its share price continues to grow.

Bega has a market capitalisation of around $1.9 billion, with approximately 302 million shares outstanding.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post The 2 ASX food shares that hit 52 week highs today appeared first on The Motley Fool Australia.

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