What's going on with the Wesfarmers (ASX:WES) share price today?

The Wesfarmers Ltd (ASX: WES) share price is falling at the final hurdle of this month, dropping for the second day in a row. We take a closer look.

| More on:
asx share price changes represented by investor and dollar sign on a seesaw

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Wesfarmers Ltd (ASX: WES) share price is falling at the final hurdle this month, dropping for the second day in a row.

At the time of writing, the Wesfarmers share price is $54.60, down 1.41% today.

It also fell yesterday, though far less dramatically, ending the day 0.81% lower than the previous session's close.

With no news out of the company, many investors are wondering whether there's a reason for the Wesfarmers share price tumbling.

Let's take a look at what Wesfarmers has been up to lately.

A brief refresher on Wesfarmers

Wesfarmers began its life in 1914 as a Western Australian farmers' cooperative. It has since grown to include many brands that nearly all Australians would recognise.

These include Bunnings, Kmart, Target, Catch.com.au, Officeworks, Kleenheat, and Flybuys.

What's Wesfarmers been up to this month?

The Wesfarmers share price started the month off strong. Between 31 March and 19 April, it closed every day trading higher than the last.

It climbed from $52.67 to $55.83 and, after a brief correction, it reached $56.14.

Interestingly, such a dramatic climb occurred without the company publishing a word of price sensitive news to the ASX this month. Although, it did quietly release its plans for the future of Kmart

Outside of the ASX there has been news that Bunnings Warehouse may repurpose onsite carparks to be used as mass vaccination hubs.

We've also heard news from Target this month. It announced when it will be closing between 10 and 25 of its large stores and 50 of its smaller Target Country stores. Nearly 12 months ago we reported on the fate of many of Wesfarmers' Target stores, but only now do we know the exact details.  

Further, while some top brokers still think Wesfarmers shares are a good deal, some investors may be bearish of its 33.44 price-to-earnings (P/E) ratio.

Wesfarmers share price snapshot

While we have no concrete answers as to why we're seeing the Wesfarmers share price fall, the drop it's experienced over the last 2 days has still left it in the green this month.

It's also currently up 5.9% year to date, and up by 45% over the last 12 months.

Wesfarmers has a market capitalisation of around $62.7 billion, with approximately 1.1 billion shares outstanding.

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia owns shares of COLESGROUP DEF SET and Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Retail Shares

A happy young couple celebrate a win by jumping high above their new sofa.
Retail Shares

Overinvested in Wesfarmers shares? Here are two alternative ASX retail stocks

These stocks could complement an investment in Wesfarmers.

Read more »

Happy shopper at a clothes shop.
Retail Shares

The share price of this All Ords stock has jumped higher again. Here's why

Here's why Myer's share price is outperforming.

Read more »

A smiling woman at a hardware shop selects paint colours from a wall display.
Retail Shares

Wesfarmers shares recently hit a 52-week high. Can they go higher?

This business continues to impress investors.

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
Retail Shares

Would Warren Buffett buy Lovisa shares right now?

Is this a sparkly opportunity?

Read more »

Happy shopper at a clothes shop.
Earnings Results

Why did Myer shares just rocket 9%?

Investors are piling into Myer shares on Friday. But why?

Read more »

a thoughtful shopper with shopping bags wearing sparkly gold dress and matching shoes reclines on a chair with hand to chin in thought.
Retail Shares

Can Lovisa's new high profile CEO take Lovisa shares to new heights?

Is Lovisa about to embark on a new era of growth?

Read more »

A woman sits on sofa pondering a question.
Retail Shares

After soaring 244% in 5 years, how much further upside does Macquarie tip for Nick Scali shares?

The broker's expectations remain steady.

Read more »

Girl with make up and jewellery posing.
Retail Shares

Buying the dip: $5,000 invested in Lovisa shares a month ago is now worth…

It's been an outstanding first month for new Lovisa shareholders.

Read more »