In this article, we will take a look at the 5 best ASX stocks to buy now. For a detailed analysis of these companies, go directly to the 10 Best ASX Stocks to Buy Now.
5. Sydney Airport Limited (ASX: SYD.AX)
Sydney Airport Limited (ASX: SYD.AX) is a Sydney-based company founded in 1919 that owns the Sydney Airport and provides aviation-related services in Australia and internationally. It is ranked fifth on our list of 10 best ASX stocks to buy now. Over the past year, Sydney Airport stock has returned close to 5% to investors despite the pandemic crisis. Some of the services offered by the firm include access to terminals, infrastructure, apron parking, and airfield and terminal facilities, as well as commercial space leasing.
Sydney Airport Limited (ASX: SYD.AX) stock is set to surge, just like counterparts in the US, as international travel resumes with the rollout of the COVID-19 vaccine. American Airlines Group Inc. (NASDAQ: AAL) is another good option for the post pandemic economy.
Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in American Airlines Group Inc. (NASDAQ: AAL) with 13.5 million shares worth more than $324 million.
4. Wesfarmers Limited (ASX: WES.AX)
Wesfarmers Limited (ASX: WES.AX) is a Perth-based retail company founded in 1914. It is placed fourth on our list of 10 best ASX stocks to buy now. In addition to retail, the firm has interests in the chemical and fertilizer businesses. Wesfarmers stock has offered returns exceeding 39% to investors in the past year. The firm primarily sells building equipment and home improvement products through its retail outlets. It also also manufactures and distributes ammonia, ammonium nitrate, and other industrial chemicals.
Wesfarmers Limited (ASX: WES.AX) is one of the top retail stocks in Australia. Over on the other side of the Pacific, Costco Wholesale Corporation (NASDAQ: COST) is also posting strong numbers despite the coronavirus crisis.
At the end of the fourth quarter of 2020, 61 hedge funds in the database of Insider Monkey held stakes worth $3.6 billion in Costco Wholesale Corporation (NASDAQ: COST), down from 73 in the preceding quarter worth $3.8 billion.
3. Treasury Wine Estates Limited (ASX: TWE.AX)
Treasury Wine Estates Limited (ASX: TWE.AX) is a Melbourne-based wine maker. It is placed third on our list of 10 best ASX stocks to buy now and was founded in 1843. The company owns brands such as Penfolds, Beringer, Lindeman’s, Wolf Blass, 19 Crimes, and Chateau St Jean, among others. The firm owns more than 8,000 hectares of planted vineyards in Australia, as well several hundred more overseas in New Zealand, the US, and Italy. Treasury stock has returned more than 9% to investors in the past twelve months.
Just like Treasury Wine Estates Limited (ASX: TWE.AX) in Australia, the Brown-Forman Corporation (NYSE: BF-B), based out of the United States, is a premier play in the alcohol business on the global scale.
Out of the hedge funds being tracked by Insider Monkey, London-based investment firm Fundsmith LLP is a leading shareholder in Brown-Forman Corporation (NYSE: BF-B) with 10.2 million shares worth more than $814 million.
2. Westpac Banking Corporation (ASX: WBK)
Westpac Banking Corporation (ASX: WBK) is a Sydney-based bank and financial services provider founded in 1817. It is placed second on our list of 10 best ASX stocks to buy now. Westpac stock has returned more than 99% to investors over the past year. The bank has operations in New Zealand in addition to Australia. Some of the services marketed by the bank include loans, insurance, and business transactions, among others. It has a market cap of more than $72 billion and posted more than $12 billion in annual revenue in 2020.
For those interested in banking stocks with strong fundamentals like Westpac Banking Corporation (ASX: WBK), a good option would be Bank of America Corporation (NYSE: BAC), one of the biggest finance names in the United States.
At the end of the fourth quarter of 2020, 99 hedge funds in the database of Insider Monkey held stakes worth $35 billion in Bank of America Corporation (NYSE: BAC), up from 88 in the preceding quarter worth $26 billion.
1. Oil Search Limited (ASX: OSH.AX)
Oil Search Limited (ASX: OSH.AX) is a Papua New Guinea-based oil and gas development and exploration firm. It was founded in 1929 and is placed first on our list of 10 best ASX stocks to buy now. The company has business interests in the United States and Australia in addition to the home country. Oil Search stock has returned more than 22% to investors in the past year. The firm has proved and probable reserves, and contingent resources comprising almost 547 million barrels of oil and 3,956 billion cubic feet of gas.
Investors looking for companies similar to Oil Search Limited (ASX: OSH.AX) can put their money into Chevron Corporation (NYSE: CVX), a Californian oil firm on the rebound trail after a torrid 2020.
Out of the hedge funds being tracked by Insider Monkey, Nebraska-based investment firm Berkshire Hathaway is a leading shareholder in Chevron Corporation (NYSE: CVX) with 48 million shares worth more than $4 billion.
You can also take a peek at 10 Best Travel Stocks to Buy Right Now, and 10 Best Automotive Stocks to Invest in Now.
