Coles Group Ltd (ASX: COL) shares are up around 2% in lunchtime trading on Tuesday. At the time of writing, Coles shares are changing hands at $23.19 each.
The increase means Coles shares are now up around 9% for the year to date, and have climbed 12% over the past 12 months.
Today's increase comes off the back of the company's FY26 results posted to the ASX ahead of the market open this morning.
Coles announced a 2.8% increase in its group sales revenue, a 9.9% increase in its EBIT excluding significant items, and a 13.7% increase in its NPAT excluding significant items.
The robust result saw management declare a fully-franked total dividend of 78 cents per share for FY26, an increase of 13%.
But, while it's worthwhile to understand how the supermarket giant and its shares have performed over the past 12 months, investors should also keep an eye on what lies ahead.
For the business itself, Coles said it is ramping up its investment in new stores, renewals, and technology, including accelerated eCommerce and supply chain automation.
This could improve productivity and market share over the longer term, but it also raises near-term capital requirements.
But what about the Coles share price? What can we expect to happen next?
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If I buy $5,000 of Coles shares today, what could they be worth in 12 months' time?
Most experts are positive about the outlook for ASX consumer discretionary shares.
Market Index data shows that the majority of brokers have a buy rating on Coles shares. The $24.28 average target price implies a potential upside of around 5% at the time of writing.
Sentiment is similar on TradingView. The majority of analysts (eight out of 17) have a buy/strong buy rating on Coles shares, and another seven rate Coles shares as a hold. Two experts have a sell or strong sell rating.
The average target price of $24.07 implies a potential 4% upside over the next 12 months, at the time of writing. But analyst forecasts range from a 9% downside to $21 to a 17% upside to $27 over the next 12 months.
Assuming the average target price comes to fruition, that means a $5,000 investment today could be worth around $5,200 to $5,250 in 12 months time.
But if the more bullish expert forecasts are correct, a $5,000 investment today could climb to $5,850 by this time next year.
