A toast! The Endeavour share price just hit an all-time high

It's drinks all round at Endeavour today after a new record high share price

| More on:
A group of young friends celebrating and toasting with beers

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

Key points

  • The ASX 200 is having a pretty awful day today
  • But no one seems to have told Endeavour, which just hit a new record high
  • Could investors be flocking to this drinks company after some recent love from ASX brokers?

The S&P/ASX 200 Index (ASX: XJO) isn't having the best day today. At the time of writing, the ASX 200 is down by 0.59% at just under 7,500 points.

That has naturally resulted in many ASX 200 shares also posting losses so far today. But no one seems to have told the Endeavour Group Ltd (ASX: EDV) share price.

Endeavour shares are currently up a healthy 1.33% at $7.59 each. What's more, this company hit a new all-time high of $7.61 share soon after lunchtime.

Now an all-time high, in this case, isn't as impressive as it might be for some other ASX shares. That's because Endeavour has only been on the ASX since June of last year, following its spin-off out of Woolworths Group Ltd (ASX: WOW). But still, it's a happy day for shareholders, to be sure.

Today's gains put the Endeavour share price up 11.8% in 2022 and by 26% over the past 12 months. Since its first day of ASX trading, the company has given investors a return of just over 24%.

Why have Endeavour shares just hit a new record high?

So why are Endeavour shares powering ahead today? Well, it's not entirely clear. There hasn't been any recent news or announcements that easily explain this new record high.

However, investors may be flocking to this drinks company following some recent love from ASX brokers.

As my Fool colleague James covered last week, broker Goldman Sachs named Endeavour as a winner out of the recent federal budget. It even included the company on its conviction buy list, with a 12-month share price target of $8. That implies a further upside of almost 6% over the next 12 months.

Goldman is bullish on Endeavour over the company's "consumer assets and depth of [customer] loyalty, as well as more advanced digital transformation". It also reckons that Endeavour is a good defensive play due to its inflation-resistant business model and reliance on local supply chains.

So perhaps investors are taking Goldman at its word today.

At the current Endeavour share price, this ASX 200 consumer staples share has a market capitalisation of $13.59 billion, with a dividend yield of 3.3%.

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Record Highs

A man in a suit smiles at the yellow piggy bank he holds in his hand.
Bank Shares

Fresh high of $192: Here's how many records CBA shares have hit in 2025

CBA's record count for 2025 is getting ridiculous.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Record Highs

Breaking: The ASX 200 just hit a new all-time high

Australian shares have exploded 16.8% higher in two months.

Read more »

An excited man stretches his arms out above his head as he reaches a mountain peak.
Record Highs

Breaking: CBA shares hit a new record of $180

CBA shares can't possibly keep rising can they?

Read more »

A man in a suit smiles at the yellow piggy bank he holds in his hand.
Bank Shares

CBA shares hit a new $176 record high. Too late to buy?

What can stop this bank now?

Read more »

Man raising both his arms in the air with a piggy bank on his lap, symbolising a record high.
Bank Shares

CBA shares reach new all time high after 4% surge

CBA shares have done it again.

Read more »

Rising gold share price represented by a green arrow on piles of gold block.
Record Highs

This ASX 200 gold stock just surged to new all-time highs! Here's why

Investors just sent the ASX 200 gold miner rocketing to new record highs. But why?

Read more »

Happy couple doing grocery shopping together.
Consumer Staples & Discretionary Shares

The Coles share price just hit a new all-time high

Coles shares are making history today.

Read more »

Multi-ethnic people looking at camera sitting at public place screaming, shouting and feeling overjoyed about their windfall, good news or sports victory.
Share Market News

ASX 200 strikes new record high

ASX mining stocks and debuting Sigma-Chemist Warehouse shares are soaring today.

Read more »