Woolworths Group (OTCMKTS:WOLWF) Shares Down 3.4% – Here’s What Happened

Woolworths Group Limited (OTCMKTS:WOLWF)’s stock price dropped 3.4% during mid-day trading on Wednesday . The company traded as low as $29.1262 and last traded at $29.1262. Approximately 471 shares traded hands during trading, an increase of 11% from the average daily volume of 426 shares. The stock had previously closed at $30.16.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Citigroup lowered Woolworths Group to a “sell” rating in a research note on Wednesday, July 15th. The Goldman Sachs Group downgraded Woolworths Group from a “buy” rating to a “neutral” rating in a research note on Monday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $37.00.

Woolworths Group Stock Performance

The business’s 50-day moving average is $27.72 and its 200 day moving average is $24.84.

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.