With the S&P/ASX 200 (ASX: XJO) index up a princely 1.16% today (at the time of writing) it’s a good time to be in the markets. But unless you’ve got 100% of your cash invested in shares right now (probably not the wisest move), it’s also a good time to scope out where your next investment might be.
So here’s where I would deploy an extra $20 Grand in the markets today (if I was so lucky).
Freedom Foods Group Ltd (ASX: FNP) has been impressing investors this year with its solid growth numbers, particularly in the ‘plant-based beverage’ division (I’m assuming they taste better than they sound). In all seriousness, health foods like almond milk and gluten-free/dairy-free/nut-free snacks are a massive growth area and I think that this company is well-poised to take its successful brands to the next level.
Freedom has ambitious plans to expand into the lucrative American and Asian markets, which would underpin a long-term growth runway for this company if it can pull it off.
Treasury Wine Estates
Treasury Wines Estates Ltd (ASX: TWE) has long been an outperformer, but just today (at the company’s AGM), management has reported guidance that Treasury’s earnings growth is on track for a 15-20% bump in FY20.
Emerging markets across Asia, in particular, can’t seem to get enough of quality Australian wine – which is what has fuelled Treasury’s stellar growth over the past five years. I think it would be foolish to bet against the popularity of wine or alcohol in general, and thus I would be happy to tip some money into Treasury shares today.
I think this year’s performance of ASX banking shares has proven that investors shouldn’t write them off anytime soon. Westpac Banking Corp (ASX: WBC) alone has given shareholders a nice 19% return this year so far (not even including dividends), so I think it’s always a good idea to have at least some exposure to these ASX heavyweights.
Westpac is also offering a 6.44% starting dividend yield on current prices (which equals a grossed-up yield of 9.2%), so even keeping this stock for cashflow wouldn’t be a bad way to play it.
I think these three ASX shares would be a great place to start if you wanted to bulk up your portfolio today. On current pricing, I especially like TWE shares, but Freedom has been catching my eye of late as well.
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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates Limited. The Motley Fool Australia has recommended Freedom Foods Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.