JB Hi-Fi Limited (ASX: JBH) is arguably one of Australia's favourite retail brands. Both its high street shopfronts and online stores are popular with shoppers. Therefore, it may come as little surprise that the JB Hi-Fi share price is testing its all-time high again today.
JB Hi-Fi share price performance
After reaching a high of $52.88 in August this year, the JB share price then retreated back down to around the $46 to $47 mark by the middle of September. After remaining at these levels through until early October, the retail giant's shares again began climbing. This culminated in the JB Hi-Fi share price briefly breaching its all-time high in intraday trading today when it reached $52.99, before falling back to its current level of $52.54 at the time of writing.
JB Hi-Fi shares have had an impressive run in 2020, rising almost 40% since the start of the year. Not to mention, following the coronavirus crash this year, the JB Hi-Fi share price is up more than 150% since those March lows.
Normally, the lead up to Christmas is a bumper time for JB Hi-Fi. If the company's share price does manage to break through its all-time high and remain there prior to the holiday period, I think we could see more bullish moves to come. The last time the JB Hi-Fi share price exceeded its previous all-time high, it went on to secure an almost 15% gain in under two weeks.
Outperforming in its space
Another point to note about JB Hi-Fi's share price performance is that its 12 month return stands at 53.5%.
This is considerably higher than the average for the industry in which JB operates. On the ASX, JB Hi-Fi is considered to be in the 'AU Specialty Retail' industry, which has only returned an average of 19.6% over the same 12-month period.
While not the 'be all and end all' of measures, it certainly suggests that JB Hi-Fi has outperformed a significant portion of its peers within the same industry.
Dividend yield
Although not widely considered a major drawcard for investors in JB Hi-Fi shares, I also think it's worth mentioning the company's dividend yield.
For more than 10 years now, JB Hi-Fi has paid investors a stable dividend yield of above 3%. It should be noted, though, that 2018 and 2019 saw a slightly higher yield than in 2020.
Dividend yields aren't typically considered to be an important attribute for growth shares. However, I do like to take a dividend yield into account since, in the end, it all adds up for an investor.
Levels to watch
The important level to watch for the JB Hi-Fi share price is $52.88.
A break and close above this level will be considered to be a new all-time high for the company. Failing to break this level, or getting rejected here, could see the JB Hi-Fi share price continue to bounce between $52 and $46, where it has been for the past 30 to 60 days.
