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Where I’d spend $20,000 on ASX shares today

Sebastian Bowen
ATM with Australian $100 bills

As we enter the final throes of 2019, it’s occurred to me that it might just be a prime time to be on the hunt for good quality ASX shares going at good quality prices. With everyone’s attention now increasingly overtaken by the festive season, I reckon it’s a good time to take a look at the markets and see what we can find.

Here are three ASX shares that I think are looking attractive today, just in time for Christmas!

Freedom Foods Group Ltd (ASX: FNP)

The Freedom Foods share price has taken a bit of a hit this morning, dipping under $5 despite no major news coming out of this niche foods company. Freedom Food shares have now lost about 15% of their value in the last month and I think this move might just be a good buying opportunity. Momentum has appeared to have stalled with Freedom Foods after the company’s management played hard-to-get with its guidance for FY20 in its Annual General Meeting (AGM) last month.

Still, I think there are a lot of long-term tailwinds for this health foods company and I still expect strong growth in its food range over the coming years. Thus, it might be a good time to snap up some FNP shares today.

Afterpay Ltd (ASX: APT)

The Afterpay share price is rising today despite the listing of (yet another) rival BN-PL provider Openpay Group Ltd (ASX: OPY) hitting the markets this afternoon. Despite the increasing competition in this space, I still think the original is the best.

Afterpay still carries the ‘first-mover advantage’ in my opinion as well as the best branding in the BN-PL game. With APT shares still significantly below their all-time high of $37.41, today might just be a good time to dip your toes into Afterpay’s cool waters if you’re bullish on this disruptive product.

Woolworths Group Ltd (ASX: WOW)

The Woolworths share price is trading higher today as the company hosts its own AGM today. CEO Brad Banducci has reportedly refused some of his bonus as a response to the staff underpayments scandal that was unearthed recently, which the markets are taking as a definite positive. Also moving things Woolworths’ way was discussions of the successful marketing campaigns the company has executed this year, which include the popular Lion King toys and the ‘discovery garden’ kits.

I still wouldn’t describe Woolworths shares as cheap at today’s levels, but I think this reflects the underlying strength of the Woolworths business and brand going forward. Thus, I still think WOW shares might be a buy if you’re looking for a strong-and-stable dividend payer today.

Foolish Takeaway

These three ASX shares represent some of the stocks that I think are looking attractive on today’s pricing. All three are high quality companies and I would be very happy to see them in my portfolio before the end of the year.

The post Where I’d spend $20,000 on ASX shares today appeared first on Motley Fool Australia.

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Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Freedom Foods Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019