The Woolworths Limited (ASX: WOW) share price hit a 52-week high of $32.88 today and is now up 14% plus dividends over the past year after it provided a solid sales update yesterday.
For the quarter or 13 week period ending March 31 2019 it reported that Easter-adjusted same-store food sales were up 4.2% on the prior corresponding period, with total third quarter sales across the group up 5.1%.
This is some impressive growth and means Woolworths is now beating arch-rival Coles Group Ltd (ASX: COL) in terms of supermarket same-store sales growth.
Over the last 12 months Woolworths has paid $1.05 per share in dividends to place it on a trailing yield of 3.2% plus full franking credits.
According to The Wall Street Journal analysts are expecting it to deliver $1.33 in earnings per share over fiscal 2019 to place it on an estimated forward price-to-earnings multiple of 24.7x.
Analysts have an average price target of $29 on the shares according to The Wall Street Journal.
