Are you looking to add a few blue chip ASX 200 shares to your portfolio in July? Then the three listed below could be worth considering.
I believe these blue chip shares have the potential to generate solid total returns for investors over the next few years. Here's why I would buy them next month:
Coles Group Ltd (ASX: COL)
The first blue chip ASX 200 share I would consider buying in July is Coles. I think the supermarket giant would be a great option for a number of reasons. These include its defensive earnings, strong market position, and the refreshed strategy unveiled last year. This strategy aims to make $1 billion in cumulative savings by FY 2023 through the use of technology to automate manual tasks and simplifying above-store roles. I believe this leaves Coles well-positioned to achieve solid earnings and dividend growth over the next decade.
Ramsay Health Care Limited (ASX: RHC)
Another blue chip ASX 200 share to consider buying is Ramsay Health Care. Although the short term is likely to be challenging, I believe Ramsay's long term growth potential remains very strong. This is because the company's world class network of private hospitals looks set to benefit from the expected increase in demand for healthcare services in the future due to ageing populations and increased chronic disease. Another positive is Ramsay's long history of making earnings accretive acquisitions. I believe there's a strong chance it will acquire its way into new markets in the coming years to support its growth. Overall, I feel this puts it in a solid position to deliver strong total returns for investors over the 2020s and beyond.
SEEK Limited (ASX: SEK)
A final blue chip ASX 200 share to consider buying is this job listings giant. As with Ramsay, SEEK is certainly having a tough time right now. But I don't believe it will be long until trading conditions normalise and the company returns to growth. In respect to the latter, I believe its China-based Zhaopin business will be the key driver of growth in the future. This business has quickly become the pivotal part of the company and contributed 47.8% of its total revenue during the first half of FY 2020. Given how lucrative the China market is, I'm confident Zhaopin can underpin strong growth for SEEK for a long time to come.
