Woolworths Group (OTCMKTS:WOLWF) Trading Down 4.6% – Here’s Why

Woolworths Group Limited (OTCMKTS:WOLWF)’s stock price dropped 4.6% during mid-day trading on Friday . The company traded as low as $20.94 and last traded at $20.94. Approximately 300 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 686 shares. The stock had previously closed at $21.95.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group initiated coverage on shares of Woolworths Group in a research note on Monday, January 19th. They set a “buy” rating and a $37.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Woolworths Group Price Performance

The stock has a fifty day moving average price of $20.22 and a two-hundred day moving average price of $19.10.

Woolworths Group Company Profile

Woolworths Group is one of Australia’s leading retail companies, operating a diversified portfolio of supermarket, liquor, and general merchandise banners. Founded in 1924 and headquartered in Bella Vista, New South Wales, the company grew from a single variety store into a national retailer with more than 1,000 Woolworths Supermarkets, Big W discount department stores, and an extensive network of convenience and Metro outlets across Australia and New Zealand. Its core supermarket segment offers fresh produce, meat, bakery, deli, seafood, and everyday grocery items, while its general merchandise arm provides clothing, home goods, electronics and seasonal products.

In addition to supermarkets and discount department stores, Woolworths Group operates several specialty liquor brands, including BWS, Dan Murphy’s and Cellarmasters, following the demerger of Endeavour Group in 2021.