Analysts say these ASX 200 dividend stocks are best buys in April

What are analysts saying about these high-quality companies?

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If you want to invest in the best ASX 200 dividend stocks, then read on!

That's because listed below are two that have been named as best buys by a couple of leading brokers.

Here's what they are saying about them:

Treasury Wine Estates Ltd (ASX: TWE)

Analysts at Morgans think that this wine giant could be a quality ASX 200 dividend stock to buy. So much so, the broker has the Penfolds owner on its best ideas list.

Morgans believes that a recent acquisition in the United States has the potential to give its whole business a big lift. And while it concedes that there are integration risks, it feels the risk/reward is compelling. The broker explains:

It may take some time for the market to digest TWE's acquisition of Paso Robles luxury wine business, DAOU Vineyards (DAOU) for US$900m (A$1.4bn) given it required a large capital raising. The acquisition is in line with TWE's premiumisation and growth strategy and will strengthen a key gap in Treasury Americas (TA) portfolio. Importantly, DAOU has generated solid earnings growth and is a high margin business. It consequently allowed TWE to upgrade its margins targets. While not without risk given the size of this transaction, if TWE delivers on its investment case, there is material upside to our valuation.

Morgans has an add rating and a $14.03 price target on the company's shares.

In respect to income, the broker is forecasting fully franked dividends of 36.4 cents per share in FY 2024 and 44.8 cents per share per share in FY 2025. Based on the current Treasury Wine share price of $11.86, this equates to dividend yields of 3.1% and 3.8%, respectively.

Woolworths Limited (ASX: WOW)

Income investors may also want to take a look at supermarket giant Woolworths. Analysts at Goldman Sachs are so positive on the ASX 200 dividend stock that it recently featured on the broker's highly coveted conviction list.

Its analysts rate the company highly due to its leadership position in the market and the stickiness and loyalty of its customer base. In respect to the latter, the broker commented:

We are Buy rated on the stock as we believe the business has among the highest consumer stickiness and loyalty among peers, and hence has strong ability to drive market share gains via its omni-channel advantage, as well as pass through any cost inflation to protect its margins, beyond market expectations.

Goldman has a conviction buy rating and a $40.40 price target on Woolworths' shares.

As for income, its analysts are forecasting fully franked dividends per share of $1.09 in FY 2024 and $1.17 in FY 2025. Based on the current Woolworths share price of $31.75, this will mean yields of 3.4% and 3.7%, respectively.

Motley Fool contributor James Mickleboro has positions in Treasury Wine Estates. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has recommended Treasury Wine Estates. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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