Coles’ (ASX:COL) dividend is hitting Woolworths (ASX:WOW) out of the park

The Coles Group Ltd (ASX: COL) share price has not been a good show for investors of late. Although Coles shares were up 1.11% at the close of trading today, the company is still down more than 15% since mid-February.

That’s a hefty drop for an ASX blue chip in just 2 weeks. Coles shares are now down around 20% since making a new all-time high back in August.

So why are investors selling out of Coles of late?

Coles earnings disappoint

Well, the company’s half-year earnings report seems to be the reason. Coles did happen to deliver its earnings on 17 February, around the time investors started hitting the sell button on masse. On the surface,…