What’s going on with the Wesfarmers (ASX:WES) share price today?

The Wesfarmers Ltd (ASX: WES) share price is falling at the final hurdle of this month, dropping for the second day in a row. We take a closer look.
The post What’s going on with the Wesfarmers (ASX:WES) share price today? appeared first on The Motley Fool Australia. –

asx share price changes represented by investor and dollar sign on a seesaw

The Wesfarmers Ltd (ASX: WES) share price is falling at the final hurdle this month, dropping for the second day in a row.

At the time of writing, the Wesfarmers share price is $54.60, down 1.41% today.

It also fell yesterday, though far less dramatically, ending the day 0.81% lower than the previous session’s close.

With no news out of the company, many investors are wondering whether there’s a reason for the Wesfarmers share price tumbling.

Let’s take a look at what Wesfarmers has been up to lately.

A brief refresher on Wesfarmers

Wesfarmers began its life in 1914 as a Western Australian farmers’ cooperative. It has since grown to include many brands that nearly all Australians would recognise.

These include Bunnings, Kmart, Target,, Officeworks, Kleenheat, and Flybuys.

What’s Wesfarmers been up to this month?

The Wesfarmers share price started the month off strong. Between 31 March and 19 April, it closed every day trading higher than the last.

It climbed from $52.67 to $55.83 and, after a brief correction, it reached $56.14.

Interestingly, such a dramatic climb occurred without the company publishing a word of price sensitive news to the ASX this month. Although, it did quietly release its plans for the future of Kmart

Outside of the ASX there has been news that Bunnings Warehouse may repurpose onsite carparks to be used as mass vaccination hubs.

We’ve also heard news from Target this month. It announced when it will be closing between 10 and 25 of its large stores and 50 of its smaller Target Country stores. Nearly 12 months ago we reported on the fate of many of Wesfarmers’ Target stores, but only now do we know the exact details.  

Further, while some top brokers still think Wesfarmers shares are a good deal, some investors may be bearish of its 33.44 price-to-earnings (P/E) ratio.

Wesfarmers share price snapshot

While we have no concrete answers as to why we’re seeing the Wesfarmers share price fall, the drop it’s experienced over the last 2 days has still left it in the green this month.

It’s also currently up 5.9% year to date, and up by 45% over the last 12 months.

Wesfarmers has a market capitalisation of around $62.7 billion, with approximately 1.1 billion shares outstanding.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

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

The Motley Fool Australia owns shares of COLESGROUP DEF SET and Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post What’s going on with the Wesfarmers (ASX:WES) share price today? appeared first on The Motley Fool Australia.

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!