The last 12 months have been rough on the Wesfarmers Ltd (ASX: WES) share price, but investors appear to be backing the stock for the future.
According to new data from trading platform Selfwealth, the stock boasted the highest 'buy trading' in 2022.
That means nearly three-quarters of people trading in Wesfarmers shares on the platform were buying into the embattled retail-focused giant.
The Wesfarmers share price is $47.40 right now. That's 16% lower than it was this time last year.
For comparison, the S&P/ASX 200 Index (ASX: XJO) has dumped 3% over the last 12 months.
So, what might ASX investors have seen in Wesfarmers shares last year? Let's take a look.
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Why did investors dive into Wesfarmers shares in 2022?
Wesfarmers shares certainly turned heads in 2022. But not only did the stock catch investors' attention, it seemingly held it.
72% of Selfwealth users trading in the stock last year were buying in.
That put it in equal first, boasting the highest buy trading percentage of all ASX shares on the platform alongside Adairs Ltd (ASX: ADH) and Xero Limited (ASX: XRO).
And there was plenty to like about the ASX 200 giant's stock.
Wesfarmers paid out $1.80 of dividends last year, leaving it with a 3.8% yield at the time of writing.
Investors may have also liked the company's headline retail brands, which include Bunnings, Kmart, and Officeworks.
Beyond such household names, though, the company also operates a number of industrial businesses and even a lithium resource.
Such a diverse fistful of operations has earned Wesfarmers shares the favour of Morgans. It's given the stock a place on its best ideas list, my Fool colleague James reports. The broker said:
[W]e continue to see [Wesfarmer's] valuation as attractive for a high-quality business with a diversified group of retail and industrial brands, solid balance sheet, and strong leadership team that will continue delivering long-term value for shareholders.
Morgans has slapped the stock with a $55.60 price target – representing a potential 17% upside – and tips it to pay $1.82 of dividends this year.
Goldman Sachs, however, isn't nearly so hopeful. It's got a sell rating and a $40.60 price target on the ASX 200 share.
