Last month, a large number of ASX 200 shares released their latest results and decided to share some of their profits with shareholders in the form of dividends.

Once a company declares its dividend, it names a date in which its shares will trade ex-dividend.

This is essentially when the rights to the dividend payment have been finalised. If you buy its shares on the ex-dividend date, you're too late to the party and the seller will be the one that receives the dividend even though you may be holding the shares on the dividend payment date.

In light of this, a share will more often than not fall in line with the amount of its dividend to reflect this.

A number of ASX 200 shares are going ex-dividend today are trading lower for this reason. Listed below are six such examples:

Blackmores Ltd (ASX: BKL)

The Blackmores share price is down 1.5% after trading ex-dividend for the company's 87 cents per share fully franked interim dividend. This will be paid to eligible shareholders on 28 March.

Brambles Limited (ASX: BXB)

The Brambles share price is dropped almost 1% to $13.19. It will be paying eligible shareholders a partially franked 17.7 cents per share interim dividend on 13 April.

Costa Group Holdings Ltd (ASX: CGC)

The Costa share price is down 1.5% this afternoon. Its shares have gone ex-dividend for its partially franked 5 cents per share interim dividend. This will be paid to shareholders on 6 April.

Smartgroup Corporation Ltd (ASX: SIQ)

The Smartgroup share price has sunk almost 7% after trading ex-dividend for the company's 29 cents per share fully franked final dividend. Eligible shareholders can look forward to receiving this dividend on 23 March.

Super Retail Limited (ASX: SUL)

The Super Retail share price is down almost 4%. This retailer will be paying its fully franked 34 cents per share interim dividend on 14 April.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price has tumbled 7.5% after going ex-dividend for the energy giant's massive 211.3 cents per share fully franked final dividend. It will be paid to eligible shareholders in just under a month on 5 April.

The post 6 ASX 200 shares trading ex-dividend today appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) spent a third consecutive day in the red today, falling 0.4% to close at 7,285.4 points.

Meanwhile, the February earnings season continued. Today saw results released by Qantas Airways Limited (ASX: QAN), Medibank Private Ltd (ASX: MPL), Star Entertainment Group Ltd (ASX: SGR), and Blackmores Ltd (ASX: BKL), to name a few.

But none of those names belongs to today's worst-performing sector. The S&P/ASX 200 Materials Index (ASX: XMJ) led the market's tumble today, falling 1.6%.

Looking to the positive side of the market, the S&P/ASX 200 Healthcare Index (ASX: XHJ) jumped 1.1%, helped by the Ramsay Health Care Ltd (ASX: RHC) share price. It gained 3% on the back of the company's 22% jump in profits.

But which ASX 200 share posted the index's biggest gain on Thursday? Let's take a look.

Top 10 ASX 200 shares countdown

Today's best-performing ASX 200 stock was Eagers Automotive Ltd (ASX: APE). It gained 9% to close at $13 after the automotive retailing group posted record underlying profit and full-year dividends.

These shares made today's biggest gains:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

Tuesday has proven to be another big earnings season day, with plenty of S&P/ASX 200 Index (ASX: XJO) shares posting results. Sadly, however, not all have been met with enthusiasm.

Two ASX 200 consumer stocks are among those trading in the red today. Let's take a closer look at the releases that have the market bidding them lower.

Right now, the ASX 200 is down 0.3% at 7,329.8 points.

2 ASX 200 consumer shares struggling after posting earnings

The Costa Group Holdings Ltd (ASX: CGC) share price is suffering on the back of the company's full-year earnings, released this morning. Right now, the stock is down 2.04%, trading at $2.645.

It comes after the ASX 200 fresh produce company posted around $1.36 billion of revenue for 2022 – an 11.2% year-on-year improvement. However, its statutory net profit after tax (NPAT) slumped 10% to $47 million.

Last year saw the grower hit by severe weather events and inflation. Fortunately, both appear to be moderating in 2023.

Though, interim CEO Harry Debney expressed frustration over export market access, particularly to China and Japan.

Costa Group declared a 5 cents per share, 40% franked, final dividend – flat with that of the prior year.

Shares in ASX 200 vehicle accessories manufacturer ARB Corporation Limited (ASX: ARB) are also in the red on the release of the company's first-half earnings, falling 1.28% to swap hands for $31.315 apiece.

It posted a 31.2% tumble in NPAT – coming in at $47.4 million. At the same time, its sales revenue fell 5.1% to $340.9 million. It declared a 32 cents per share fully franked interim dividend ­– down 17.9% on last year's.

ARB posted lower sales last half amid challenges in fitting resource constraints and vehicle availability, lower export sales, the restructure of a major United States customer, and the timing of original equipment manufacturers (OEM) contracts.

Looking forward, it expects higher new vehicle sales, strong customer orders, and better recruitment opportunities to boost its aftermarket category. Meanwhile, OEM sales are tipped to be flat this financial year before growing again next financial year.

It also notes new and innovative products have been slated for release in 2023.

The post 2 ASX 200 consumer shares tumbling lower on earnings updates appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is down 4% to $1.52. Investors have been selling Beach and other energy shares today after oil prices sank again overnight. Traders were selling down oil amid global economic growth concerns. The S&P/ASX 200 Energy index is down 2.1% this afternoon.

Blackmores Ltd (ASX: BKL)

The Blackmores share price is down 1.5% to $73.38. This is despite there being no news out of the health supplements company. However, it is worth noting that Citi recently warned about the company's prospects in FY 2023. It feels that price increases and the cost of living crisis could hit demand for its offering. Citi has a sell rating and $58.85 price target on its shares.

Costa Group Holdings Ltd (ASX: CGC)

The Costa Group share price is down 2% to $2.74. A number of agricultural shares are under pressure on Thursday. This may have been driven by some large investors rotating out of the sector into other areas of the market.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is down 1% to $3.60. This may have been driven by profit taking after some strong gains in recent sessions. Investors have been buying this semiconductor company's shares after it provided a positive update on its demo chip.

The post Why Beach, Blackmores, Costa, and Weebit Nano shares are falling today appeared first on The Motley Fool Australia.

Will the market be able to build on this on Monday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to start the week in the red following a mixed session on Wall Street on Friday night. According to the latest SPI futures, the ASX 200 is expected to open the day 9 points or 0.1% lower this morning. On Wall Street, the Dow Jones was up 0.45%, the S&P 500 fell slightly, and the NASDAQ dropped 0.5%.

Oil prices drop

ASX 200 energy shares such as Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a tough start to the week after oil prices tumbled on Friday night. According to Bloomberg, the WTI crude oil price was down 2.1% to US$76.28 a barrel and the Brent crude oil price fell 2% to US$83.63 a barrel. Traders were selling oil due to concerns that soaring COVID cases in China could lessen demand.

Costa shares downgraded

The Costa Group Holdings Ltd (ASX: CGC) share price is fully valued according to analysts at Bell Potter. According to the note, the broker has downgraded the horticulture company's shares to a hold rating with an improved price target of $2.90. It commented: "We downgrade our rating from Buy to Hold following the recent recovery in the share price."

Gold price flat

Gold miners such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a subdued start to the week after the gold price traded flat on Friday. According to CNBC, the spot gold price was steady at US$1,754.93 an ounce during the session. A stronger US dollar put pressure on the precious metal.

Fletcher Building given buy rating

The Fletcher Building Limited (ASX: FBU) share price could be great value according to Goldman Sachs. This morning the broker initiated coverage on the building products company with a buy rating and $5.90 price target. While Goldman believes that key markets are at or near cyclical peaks, it believes "the share price captures the cyclical headwind (and more)."

The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) posted another green day on Wednesday, bringing its gains for the week so far to 2.01%. The index closed today's session 0.18% higher at 6,810.9 points.

That was despite the latest inflation figures from the Australian Bureau of Statistics, which show the nation's consumer price index (CPI) hit 7.3% over the 12 months to the September quarter – its highest in 32 years.

The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) tumbled 2.4% amid the data's release, while the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) fell 0.5%.

The S&P/ASX 200 Energy Index (ASX: XEJ) also suffered, falling 1.4% despite oil prices rising.

The Brent crude oil price lifted 0.3% to US$93.52 a barrel overnight while the US Nymex crude oil price gained 0.9% to US$85.32 a barrel

Meanwhile, the S&P/ASX 200 Real Estate Index (ASX: XRE) rose 2.5% on Wednesday while the S&P/ASX 200 Utilities Index (ASX: XUJ) lifted 2.4%.

All in all, eight of the ASX 200's 11 sectors closed higher. But which share outperformed all others? Keep reading to find out.

Top 10 ASX 200 shares countdown

The Costa Group Holdings Ltd (ASX: CGC) share price led the way on the index today, gaining 11% after its historical parent entity snapped up a 13.78% stake in the company.  

Today's biggest gains were made by these shares:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:

Australian Strategic Matrls (Hldngs) Ltd (ASX: ASM)

The Australian Strategic Materials share price is up 16% to $2.41. This follows the release of the company's quarterly update this morning. That update reminded investors that commissioning for neodymium praseodymium (NdPr) metal and alloy products drew closer to completion this quarter, with positive results achieved. The company also successfully produced neodymium iron boron (NdFeB) strip metal alloy while commissioning the strip caster.

Bega Cheese Ltd (ASX: BGA)

The Bega Cheese share price is up 4.5% to $3.39. This is despite the diversified food company announcing the exit of its CEO Paul van Heerwaarden at its annual general meeting. He will step down in the coming months and be replaced by its COO, Pete Findlay. In addition, at the meeting, the company re-affirmed its FY 2023 guidance for EBITDA in the range of $160 million to $190 million.

Costa Group Holdings Ltd (ASX: CGC)

The Costa share price is up 11% to $2.48. Investors have been buying this horticulture company's shares after private equity firm Paine Schwartz Partners acquired a 13.78% stake. Paine, which used to own Costa, paid an average of approximately $2.51 per share, which is a 12.5% premium to the Costa share price at yesterday's close.

Elmo Software Ltd (ASX: ELO)

The Elmo share price has surged 40% higher to $4.63. This follows news that the HR and payroll platform provider is recommending a takeover offer from K1 Investment Management. The Los Angeles-based investment firm has tabled a $4.85 cash per share offer, which represents a 100% premium to the Elmo share price prior to the company first revealing takeover interest earlier this month.

The post Why Australian Strategic Materials, Bega Cheese, Costa, and Elmo shares are racing higher appeared first on The Motley Fool Australia.

The S&P/ASX 300 Index (ASX: XKO) is posting a modest gain on Wednesday, helped along by three shares that call the index home.

They've gained as much as 11.7% today amid, ahead of, and exclusive of, exciting announcements.

Meanwhile, the ASX 300 is up 0.27% at 6,794.4 points right now.

Let's take a look at what's driving them to outperform the iconic index this afternoon.

These 3 ASX 300 shares are taking off today

Among the top-performing ASX 300 shares today is Costa Group Holdings Ltd (ASX: CGC). The stock is rocketing 11.68% at the time of writing to trade at $2.49.

Its gains come on the back of news its historical parent company, Paine Schwartz Food, which spun Costa out in 2015, has bought a sizable chunk of its shares.

The private equity firm snapped up a 13.78% stake in Costa overnight, paying an average price of around $2.51 per share, as my Fool colleague James reports.

There's yet to be any clue as to whether the firm might attempt to further increase its stake or make a play for the company.

Another ASX 300 share taking off on Wednesday is Vulcan Energy Resources Ltd (ASX: VUL). Right now, its stock is up 5.24%, trading at $7.23.

Interestingly, there's been no word from the lithium developer – yet.

The company is expected to release its activities and cashflow report for the September quarter tomorrow. No doubt, all eyes will be on the stock on Thursday morning.

Finally, the Calix Ltd (ASX: CXL) share price is helping to buoy the ASX 300 despite the company's silence. It's soared 3.43% to trade at $5.73 at the time of writing.

While there's been no word from the environmental technology stock today, it did open a $20 million share purchase plan, expected to issue new shares for $4.55 apiece, yesterday.  

It follows a $60 million capital raise the company undertook last week.

The post 3 ASX 300 shares off to the races on Wednesday appeared first on The Motley Fool Australia.

This follows news that a private equity firm has been buying the ASX 200 horticulture company's shares.

What's going on with the Costa share price?

Investors have been scrambling to buy the company's shares today after its former owner snapped up a major stake at a sizeable premium.

According to a notice of initial substantial holder, Paine Schwartz Food has taken advantage of recent weakness in the Costa share price to return to its share registry.

The US based private equity firm, which floated Costa onto the Australian share market back in 2015 at $2.25 per share, has acquired a relevant interest in 13.78% of the company's issued shares.

It achieved this through a series of trades this week, which were as follows:

• 46,408,191 shares for $120.66 million or $2.60 per share
• 11,041,386 shares for $23.2 million or $2.10 per share
• 6,568,934 shares for $17.1 million or $2.60 per share

This equates to an average purchase price of approximately $2.51 per share, which is a sizeable 12.5% premium to the Costa share price at yesterday's close. Clearly, Paine Schwartz Food was keen to get hold of this stake.

It is also worth noting that technically the private equity firm only owns the first row of shares (~46.4m). This is due to Foreign Investment Review Board (FIRB) rules that limit its ownership to 9.99% without FIRB approval.

The remainder of the shares are forward contracts or total return swaps, which provide for physical settlement subject to receipt of a no objection notification under the Foreign Acquisitions and Takeovers Act.

What's next?

It remains unclear whether Paine Schwartz Food will take things further from here and seek to take Costa private again or just sit passively on this investment.

What is clear, though, is that this private equity firm sees the Costa share price pain in 2022 as a buying opportunity.

The post Could the pain ease for this ASX 200 share following a $160m after market raid? appeared first on The Motley Fool Australia.

Here's why brokers think investors ought to buy them next week:

Costa Group Holdings Ltd (ASX: CGC)

According to a note out of Morgans, its analysts have retained their add rating but cut their price target on this horticulture company's shares to $2.90. This follows the release of a disappointing update last week which revealed that worse than expected adverse weather is impacting its operations. As a result, its profits are now only expected to be marginally higher year on year in FY 2022. While disappointed, Morgans continues to believe that Costa is a buy for patient investors. This is due to its belief that its shares are undervalued based on more normalised earnings and its growth projects. The Costa share price ended the week at $2.23.

Metcash Limited (ASX: MTS)

A note out of UBS reveals that its analysts have retained their buy rating and $5.00 price target on this wholesale distributor's shares. This follows the company's investor day event last week which revealed strong growth from its hardware pillar and positive commentary on its new distribution centre. The former is benefiting from housing starts and the renovation market. The Metcash share price was fetching $3.90 at Friday's close.

Pilbara Minerals Ltd (ASX: PLS)

Analysts at Macquarie have retained their outperform rating and $5.70 price target on this lithium miner's shares. According to the note, the broker was pleased with the results of the company's latest digital auction. Macquarie notes that Pilbara Minerals accepted a pre-auction bid that was once again higher month on month. Looking ahead, the broker is expecting more regular sales on the platform in the near future thanks to the ramp up of the Ngungaju project. The Pilbara Minerals share price ended the week at $5.07.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) crept higher on Wednesday despite energy shares weighing it down. The index lifted 0.31% to close at 6,800.1 points.

Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) dumped 0.5% as oil prices slumped lower again.

The Brent crude oil price slipped 1.7% to US$90.03 a barrel overnight while the US Nymex crude oil price fell 3.1% to US$82.82 a barrel.  

On the greener side of the fence, however, the S&P/ASX 200 Utilities Index (ASX: XIJ) led the way, posting a 1% gain.

Consumer stocks also performed well, with the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) and the S&P/ASX 200 Consumer Staples Index (ASX: XCJ) gaining 0.9% and 0.5% respectively.

Finally, it was a bright day for many of the market's favourite mining shares, with the S&P/ASX 200 Materials Index (ASX: XMJ) rising 0.3%.

All in all, nine of the ASX 200's 11 sectors closed higher on Wednesday. But which share outperformed all others? Keep reading to find out.

Top 10 ASX 200 shares countdown

Lithium shares reigned supreme on Wednesday, with the share price of Core Lithium Ltd (ASX: CXO) posting the biggest gain. It lifted 8% despite the company's silence.

Today's biggest gains were made by these shares:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) jumped higher on Tuesday, driven by tech shares. The index ended the day 1.72% higher at 6,779.2 points.

Its strong performance followed Wall Street's day in the green. The Dow Jones Industrial Average Index (DJX: .DJI) lifted 1.9% overnight while the S&P 500 Index (SP: .INX) surged 2.6% and the Nasdaq Composite Index (NASDAQ: .IXIC) rocketed 3.4%.

It's likely no surprise then that the S&P/ASX 200 Information Technology Index (ASX: XIJ) led the Aussie bourse today. It soared 4.2% on Tuesday.

Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) posted a 1.7% gain and the S&P/ASX 200 Financials Index (ASX: XFJ) lifted 2%.

On the other hand, the S&P/ASX 200 Energy Index (ASX: XEJ) fell 0.6% after oil prices posted slight losses.

The Brent crude oil price fell less than 0.1% to US$91.62 a barrel overnight, while the US Nymex crude oil price dumped 0.2% to trade for US$85.46 a barrel.

All in all, 10 of the ASX 200's 11 sectors closed higher on Tuesday. But which share outperformed all others? Let's take a look.

Top 10 ASX 200 shares countdown

The Novonix Ltd (ASX: NVX) share price topped the lot on Tuesday despite no news having been released by the company.

Find out more about the battery technology and materials share and what it's been up to here.

Today's biggest gains were made by these shares:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Adbri Ltd (ASX: ABC)

The Adbri share price is down 21% to $1.45. Investors have been selling down this building materials company's shares after it announced the exit of its CEO and released a disappointing trading update. The latter reveals that its profits will be down materially in FY 2022 due to higher costs.

Costa Group Holdings Ltd (ASX: CGC)

The Costa share price is down 13% to $2.01. This has been driven by news that Costa's Citrus operations have been underperforming due to adverse weather. As a result, Costa currently expects its full year group EBITDA-S to be marginally ahead of last year's results. This compares to strong first half EBITDA-S growth of 12.6%.

Hawsons Iron Ltd (ASX: HIO)

The Hawsons Iron share price is down a whopping 62% to 14 cents. This morning, Hawsons Iron revealed that escalating global costs and deteriorating economic conditions have necessitated a slowdown decision for the Hawsons Iron Project Bankable Feasibility Study. Management believes it would be prudent to preserve capital while examining all options to progress the project.

Medibank Private Ltd (ASX: MPL)

The Medibank share price is down 3.5% to $3.40. Investors have been selling this private health insurance giant's shares after it was the latest victim of a cyberattack. The good news is that Medibank appears to have responded quick enough to prevent any customer data being taken or ransomware being installed. The company has now deployed additional security measures across its network, strengthening the integrity of its systems.

The post Why Adbri, Costa, Hawsons Iron, and Medibank shares are sinking today appeared first on The Motley Fool Australia.

In early trade, the horticulture company's shares are down 14% to $1.98.

Why is the Costa share price sinking?

Investors have been selling down the Costa share price on Monday after the company released an update on its earnings guidance.

According to the release, Costa is expecting its full year earnings for the Citrus category to be considerably lower than previously forecast.

The release notes that lower quality levels across all citrus regions have continued, which has resulted in considerably lower packouts, as well as reduced volumes of first grade fruit for export. This has been driven by adverse weather conditions, including both higher rainfall and cooler temperatures.

One positive, though, is that market demand and pricing in its export destinations remain very strong which bodes well for the 2023 season.

In addition, the company notes that the effort to produce the crop in challenging conditions has also caused an increase in labour expenditure, as well as higher spraying costs in relation to pest and disease control.

What does this mean for its full-year profits?

Costa advised that it currently expects full year group EBITDA-S to be marginally ahead of last year's results.

This will be a sharp slowdown on its first half performance, when it delivered EBITDA-S growth of 12.6%.

Management also warned that while it does not expect any additional material impact from recent heavy rainfalls experienced across the country, further downside risk is possible if the extreme adverse weather continues.

Finally, Costa also confirmed that despite its EBITDA-S being lower than previously forecast, debt levels and related ratios remain comfortably manageable for the company.

The post Why the Costa share price is crashing 14% to a 52-week low appeared first on The Motley Fool Australia.

An ASX 200 company has been hit by a "malicious" IT phishing attack.

Costa Group Holdings Ltd (ASX: CGC), a large fresh produce grower and marketer, advised of the attack late last week.

Costa shares fell 1.79% before recovering to their current price of $2.23, 0.45% lower. For perspective, the S&P/ASX 200 (ASX: XJO) is down 1.31% today.

Cyber attack

Costa advised the "sophisticated" attack took place on 21 August. A review of the incident took place at that time.

The attack involves 10% of data on a single server at Costa's Corindi, NSW site.

Costa said most of the information stored on the server is not personal information. But there is a risk personal information of workers on the company's berry farms has been accessed.

This could include passport details, bank details, superannuation details, and tax file numbers.

In September, 10 million Optus customer records were stolen in a major cyber hack.

However, unlike Optus, the attack on Costa's system does not include customer records.

There is no evidence any personal information of workers has been leaked online at this stage.

Commenting on the news, Costa interim CEO Harry Debney said:

This is a malicious attack, which was sophisticated in its execution.  Our first concern is for the impact this may have on our current and former employees.

I can also confirm that no core business applications were accessed, nor was any customer or supplier data comprised by the attack.

Costa recommends those impacted take steps to minimise risk of the data being used unlawfully.

The company has also notified authorities of the attack.

Share price snapshot

The Costa share price has fallen 27%in the past year, while it has lost 26.6% in the year to date.

Costa has a market capitalisation of more than $1 billion based on the current share price.

The post This ASX 200 company has just been hit by its own Optus-style cyber attack. Here's the latest. appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most are listed below. Here's why they are dropping:

BHP Group Ltd (ASX: BHP)

The BHP share price is down almost 5% to $36.38. Investors have been selling BHP and other mining shares on Monday amid concerns that rising interest rates could cause a global recession. This could lessen demand for commodities and put pressure on prices. The S&P/ASX 200 materials index is down 4.75% this afternoon.

Costa Group Holdings Ltd (ASX: CGC)

The Costa share price is down over 13% to $2.20. This follows the shock announcement of the exit of Costa's CEO after just 18 months in the top job. According to the release, Sean Hallahan will step down with immediate effect and be replaced on an interim basis by former CEO, Harry Debney.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price is down 9% to $3.00. Investors have been selling this administration services company's shares after it confirmed that the $4.81 per share takeover by Dye & Durham has now collapsed. One positive is that the company will now pay a special dividend to shareholders. It is also looking for other way to unlock value.

Syrah Resources Ltd (ASX: SYR)

The Syrah share price has crashed 21% to $1.51. This has been driven by news that Syrah's Balama Graphite Operation in Mozambique has been interrupted by illegal industrial action by a small contingent of local employees and contractors. Management advised that it is working to restore operations as soon as possible.

The post Why BHP, Costa, Link, and Syrah shares are dropping appeared first on The Motley Fool Australia.

In morning trade, the horticulture company's shares are down a sizeable 12% to $2.24.

Why is the Costa share price being sold off?

While the market is a sea of red on Monday, the Costa share price is falling more than most following the release of a shock announcement.

According to the release, the company has revealed that its CEO and managing director, Sean Hallahan, will step down with immediate effect after just 18 months in the role.

Costa has been quick to find an interim replacement. It has appointed Harry Debney as its interim CEO from today. Debney is currently a non-executive director and former CEO of Costa.

Hallahan will support with the transition for a short handover period that is anticipated to conclude in mid-October.

What's going on?

While no real reason was given for Hallahan's sudden exit, it appears to be an amicable one.

Costa's chair, Neil Chatfield, said:

During Sean's 5 years with the organisation including as Chief Operating Officer and since March 2021 as CEO and Managing Director, he has played a pivotal role in Costa's development and growth.

We understand that the last 2 years, particularly in Victoria, have taken a large toll on the business and personal lives of individuals. Under Sean's leadership Costa has performed extremely well during a challenging period with global Covid-19 disruptions and extreme weather conditions being successfully navigated and is in a strong financial position. The Board and all the Costa Team thank Sean for his contribution to the company and wish him well for the future.

Hallahan added:

I am proud to leave Costa in a strong position financially and operationally. Reaching my decision has been a process and there are several things that have gone into my decision. It has been an intense couple of years in agriculture made even more challenging with the overlay of the COVID-19 pandemic. It has been a privilege to lead Costa and to have been part of an outstanding team of people for five years. I wish Costa and its employees all the best for the future.

The post Costa share price craters 12% as CEO walks appeared first on The Motley Fool Australia.

Will the market be able to build on this on Wednesday? Here are five things to watch:

ASX 200 expected to sink

The Australian share market looks set to have a day to forget on Wednesday after Wall Street had its worst session since June 2020. According to the latest SPI futures, the ASX 200 is expected to open the day a massive 162 points or 2.3% lower this morning. On Wall Street, the Dow Jones fell 3.9%, the S&P 500 dropped 4.3%, and the Nasdaq sank 5.2%. Investors were panic selling after US inflation failed to cool.

Oil prices fall

Energy producers Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued day after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 0.2% to US$87.60 a barrel and the Brent crude oil price has fallen 0.55% to US$93.45 a barrel. Traders were selling oil following the release of disappointing US economic data.

Coles downgraded to sell

The Coles Group Ltd (ASX: COL) share price is overvalued according to analysts at Goldman Sachs. This morning the broker downgraded the supermarket giant's shares to a sell rating with a $15.60 price target. Goldman made the move due to Coles being a laggard in digital transformation, which it expects to result in market share losses. It also fears that its entrance into a high investment cycle will further pressure margins.

Gold price tumbles

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a difficult day after the gold price tumbled lower overnight. According to CNBC, the spot gold price is down 1.55% to US$1,713.6 an ounce. Higher than expected inflation in the US has sparked fears of aggressive rate hikes.

ASX 200 shares going ex-dividend

A number of ASX 200 shares are due to trade ex-dividend this morning and could drop even more into the red. This includes appliance manufacturer Breville Group Ltd (ASX: BRG), horticulture company Costa Group Holdings Ltd (ASX: CGC), and fashion jewellery retailer Lovisa Holdings Ltd (ASX: LOV).

The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.

Five companies in the S&P/ASX All Ordinaries Index (ASX: XAO) will see their shares turn ex-dividend tomorrow.

This means that today will be the last day to lock in the latest dividend payments from these ASX All Ords shares.

If you buy shares on or after a company's ex-dividend date, you won't be eligible to receive the upcoming dividend payment.

But to compensate investors, shares typically drop on the day they turn ex-dividend. After all, these dividends are paid from the company's cash reserves.

With the money flowing out of the company's coffers to line the pockets of shareholders, it's left with less cash on its books. So theoretically, the company is worth less.

What's more, some investors will look to offload shares once they've secured the latest dividend.

So, there'll be downwards pressure on these five ASX All Ords shares tomorrow. But there could be elevated interest today as investors clamber to snare these dividends before it's too late.

Costa Group Holdings Ltd (ASX: CGC)

Upcoming dividend: 4 cents
Franking: 100%
Payment date: 6 October
DRP: No
Trailing dividend yield: 3.4%

Costa recently reported its first-half 2022 results, delivering 16% revenue growth and 13% adjusted earnings growth. The company held its interim dividend steady at 4 cents per share, fully franked.

Breville Group Ltd (ASX: BRG)

Upcoming dividend: 15 cents
Franking: 100%
Payment date: 6 October
DRP: No
Trailing dividend yield: 1.4%

The ASX 200 retail share served up a record sales result in FY22 as revenue grew by 19% to $1.4 billion. Net profit after tax (NPAT) lifted 16% with total dividends following suit, up 13% on the prior year to 30 cents per share.

Lovisa Holdings Ltd (ASX: LOV)

Upcoming dividend: 37 cents
Franking: 30%
Payment date: 20 October
DRP: No
Trailing dividend yield: 3.0%

Lovisa pumped out another year of strong growth in FY22 as revenue leapt by 69% to $459 million. Comparable store sales grew by 20% while NPAT more than doubled to $58 million. In response, the ASX retailer boosted its annual dividends by 106% to 74 cents.

Lovisa shares will soon be added to the ASX 200 in the upcoming September rebalance.

MAAS Group Holdings Ltd (ASX: MGH)

Upcoming dividend: 3.5 cents
Franking: 100%
Payment date: 12 October
DRP: Yes
Trailing dividend yield: 1.4%

MAAS Group delivered record pro forma earnings of $125 million in FY22, up 65% from the prior year. Around 60% of this earnings growth was achieved through acquisitions while the remaining 40% was organic. Despite the surge in profit, the ASX All Ords share lifted its total dividends by only 10% to 5.5 cents.

Pepper Money Ltd (ASX: PPM)

Upcoming dividend: 5.4 cents
Franking: 100%
Payment date: 14 October
DRP: No
Trailing dividend yield: 9.2%

Non-bank lender Pepper Money recently announced its first-half 2022 results, printing net interest income of $193 million, up 9% from the prior year. The company grew its loan book throughout the year, with originations up 53% to $5.6 billion.

The ASX All Ords share didn't declare an interim dividend last year. Instead, it paid one dividend at the end of FY21, so Pepper Money's trailing dividend yield is inflated.

Unlike FY21, the company expects future dividend payments will be weighted equally between interim and final dividends.

Annualising Pepper Money's most recent interim dividend spins up a dividend yield of 6.9%.

The post 5 ASX All Ords shares going ex-dividend on Wednesday appeared first on The Motley Fool Australia.

Three top ASX shares leading brokers have named as buys this week are listed below. Here's why they are bullish on them:

Allkem Ltd (ASX: AKE)

According to a note out of UBS, its analysts have retained their buy rating on this lithium miner's shares with an improved price target of $18.60. UBS notes that Allkem's results fell short of expectations and the company's production guidance for Mt Cattlin was downgraded just weeks after giving it. However, the broker is overlooking this due to the belief that lithium prices will be higher for longer. The Allkem share price is trading at $13.80 on Monday.

Costa Group Holdings Ltd (ASX: CGC)

A note out of Morgans reveals that its analysts have retained their add rating but trimmed their price target on this horticulture company's shares to $3.35. This follows the release of a half year result that was in line with expectations. And while wet weather has forced a reduction in Morgans' earnings estimates and valuation, it still believes that its shares are significantly undervalued at current levels. The Costa share price is fetching $2.68 this afternoon.

Ramsay Health Care Limited (ASX: RHC)

Analysts at Citi have upgraded this private hospital operator's shares to a buy rating with an $85.00 price target. While the broker has reduced its earnings estimates to reflect a slower than expected recovery from the pandemic, it remains positive that one is coming. But perhaps the main catalyst for the upgrade is Citi's belief that there's a reasonable chance that private equity firm KKR will come back with another takeover offer in the near future. The Ramsay share price is trading at $70.13 today.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.