Latest Coles Group News
Oct 27, 2021
Rapid-antigen tests will be available in supermarkets from 1 November. Marc is a Master of Journalism and Communications student at UNSW and journalist at The Motley Fool. He has a passion for journalism and news with a keen interest in business, the media, politics, foreign affairs, and how they intersect in everyday life. You can view Marc's holdings here . Latest posts by Marc Sidarous ( see all ) Image source: Getty Images 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) . 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. 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.