For investors looking to back some of Australia’s most trusted consumer names - from Bunnings and Kmart to Woolworths, Coles and JB Hi-Fi - the ASX offers several direct routes.
Gaining exposure to these companies not only provides exposure to these brands’ earnings but also offers a mix of dividend yields, growth potential, and defensive cash flows.
Investors can gain exposure to big Aussie consumer names – Bunnings, Officeworks, Kmart, Target, Woolworths, Coles and JB Hi‑Fi – by buying the right ASX-listed stocks.
The key publicly listed companies are Wesfarmers (ASX: WES), Woolworths Group (ASX: WOW), Coles Group (ASX: COL), JB Hi‑Fi (ASX: JBH), and Bunnings Warehouse Property Trust (ASX: BWP).
Below we profile each, summarising their core business, as well as recent earnings and broker targets.
Wesfarmers (ASX: WES) – Diversified Retail and Industrial Powerhouse
Wesfarmers is one of Australia’s largest and most diversified conglomerates. While its industrial arms include chemicals, energy, and fertilisers, its consumer-facing divisions are the real household names: Bunnings for home improvement, Kmart and Target for general merchandise, and Officeworks for office and school supplies.
The stock typically trades in the high-A$80s, with a fully-franked dividend yield of roughly 2.3%.
For FY2025, it delivered a statutory NPAT of A$2.926 billion (up 14.4% YoY), driven by strong retail sales in Bunnings and Kmart.
Recent broker moves on WES have been mixed. In early Sep 2025, Citi upgraded Wesfarmers to Neutral (from Sell) with a A$90.00 price target, citing attractive valuation after a sell-off.
Goldman Sachs, meanwhile, reiterated its Buy rating in May, with a price target of A$87.30, noting that management has outlined an organic growth strategy with balanced portfolio priorities.
According to Goldman Sachs, Bunnings will focus on space productivity while scaling its marketplace and retail media to boost margins, and Kmart has set a revised long-term goal to double sales to around $20 billion.
For income investors, Wesfarmers’ consistent dividend history is a key attraction. For growth-focused investors, the question is whether consumer spending will remain strong enough to justify its premium valuation.
WES shares are in a strong bullish trend, confirmed by multiple indicators. Specifically, a 5-day moving average of the stock price is above the 50-day moving average.
Consensus is Moderate Sell.
Woolworths Group (ASX: WOW) – The Grocery Giant
Woolworths is Australia’s largest supermarket chain and also owns the Big W department store brand. Its operations span groceries, fresh produce, liquor retailing, and general merchandise.
WOW shares trade near $31, with a dividend yield of around 3.0%, fully franked.
In FY2025, the company reported underlying NPAT was A$1.385 billion, down about 17% from a year ago. The board cut the final dividend to 45 cents per share (from 57 cents last year).
Broker sentiment on Woolworths has become more cautious after the results. Macquarie recently downgraded WOW from Outperform to Neutral, lowering its 12-month target to A$30.30.
Goldman Sachs reaffirmed its "Buy" rating and set a 12-month price target of $36.10 in February, suggesting a potential upside of approximately 18.3% from current levels.
The consensus is that Woolworths is a stable, defensive stock, well-positioned to weather economic slowdowns, but unlikely to deliver explosive earnings growth in the short term.
The dividend remains a steady draw for income portfolios.
WOW shares appear to be in a near-term downtrend, confirmed by its 20-day moving average.
Consensus is Hold.
Coles Group (ASX: COL) – Defensive Supermarket Rival
Coles is Woolworths’ main competitor, running a national supermarket chain alongside liquor brands Liquorland, First Choice, and Vintage Cellars.
COL trades around $21 and yields about 3% fully franked. Earnings growth has been steady, and management is focused on cost control and expanding online sales.
In FY2025, Coles delivered a solid result: sales up 3.6%, underlying EBITDA up 11.8%. The company declared $0.69 per share in total dividends for FY25 (a 37 cents interim plus a 32 cents final; fully franked) – yielding roughly 3.0%
Recently, UBS raised its 12-month target to $25.00 from $23.50 and kept a Buy rating, noting Coles’ strong cash conversion and supermarket fundamentals.
Macquarie Group maintained a Buy rating in early May 2025 following Q3 updates, issuing a 12-month price target of A$23.10, reflecting around 5.7% upside.
The broker cited Coles’ defensive growth profile, sustained earnings momentum, and alignment with long-run P/E averages.
In mid-July 2025, JPMorgan upgraded Coles from Underweight to Neutral, maintaining a price target of A$20.00.
The move follows a stock de-rating ahead of FY25 results. JPMorgan slightly lowered its FY25–FY27 earnings estimates, noting supermarket EBIT pressure from lower sales and rising wages, though this was partly offset by liquor segment strength.
Consensus is Moderate Buy.
JB Hi-Fi (ASX: JBH) – Consumer Electronics Leader
JB Hi-Fi operates two of Australia’s most recognisable electronics chains: JB Hi-Fi and The Good Guys. Its stores sell TVs, laptops, home appliances, gaming consoles, and other high-margin tech products. The retailer benefits from a loyal customer base and strong brand recognition.
In FY2025, JBH saw revenue rise 10% to $10.55 billion, EBIT lift 7.3% to $694.1 million, net profit after tax (NPAT) up 5.4% to $462.4 million, and earnings per share (EPS) up 5.4% to 423 cents per share
Management declared a large special dividend: 205 cents total (including a 100 cents special), reflecting JBH’s strong cash flow.
The stock is trading around A$105, implying a ~3.3% yield (fully franked).
UBS upgraded JBH to Neutral (from Sell) in August, lifting its price target to A$112. UBS noted that JBH’s valuation (now ~23x P/E) is attractive relative to peers and justified by its growth.
Other brokers such as Citi and Macquarie currently have targets ranging from ~$85 up to $130, reflecting mixed opinions.
JBH is in a strong bullish trend, confirmed by multiple indicators. Specifically, a 5-day moving average of the stock price is above the 50-day moving average.
Consensus does not cover this code.
BWP Trust (ASX: BWP) – A Bunnings-Backed Property Play
BWP Trust is a real estate investment trust (REIT) that owns and leases large-format retail properties, most of which are Bunnings Warehouse sites, back to Wesfarmers under long-term agreements.
It owns more than 80 Bunnings sites, making it a pure-play way to gain exposure to Australia’s dominant home improvement retailer - without taking direct retail risk.
In FY2025 BWP reported total distributions of 18.65 cents per unit (up ~2% YoY). Units trade around A$3.85, implying a fully-franked yield near 4.8% - one of the highest in this group.
As a pure-play on Bunnings real estate, BWP offers very stable rent backed by a strong tenant.
UBS upgraded BWP Trust to a Buy rating in March 2025, setting a price target of A$4.05, up from the previous level.
Morgan Stanley and other brokers have similar targets in the $4.00–$4.10 range.
Analysts highlight the trust’s predictable rental income and potential for modest growth in distributions, helped by a 2024 rent reset and the integration of its New Zealand property merger.
Morningstar assigned BWP Trust a fair value of A$3.80 per security, considering it fairly valued, with a forward distribution yield of about 5.2%.
Analysts forecast approximately 2% annual growth in distributions over the next five years.
BWP shares appear to be in a near-term downtrend confirmed by its 20-day moving average.
Consensus is Hold.
Key Takeaways for Investors
Owning shares in these companies allows investors to tap into some of Australia’s most enduring consumer brands while enjoying dividend income. The trade-offs are clear:
- Wesfarmers offers brand breadth and a history of solid capital allocation but trades at a premium.
- Woolworths and Coles provide defensive exposure to grocery spending, with modest growth and steady yields.
- JB Hi-Fi offers higher growth potential linked to tech demand but comes with more earnings volatility.
- BWP Trust delivers reliable, property-backed income tied to the performance of Bunnings.
Brokers’ ratings suggest that while near-term upside may be limited for some, these stocks remain core holdings in many Australian equity portfolios - particularly for those seeking income, brand exposure, and relative resilience in volatile markets.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
