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Second-Quarter 2013 Corporate Buyback Scorecard 101-150

Second-Quarter 2013 Corporate Buyback Scorecard 101-150

Buyback
Scorecard

The table below ranks the 268 companies in the S&P 500 that bought back at least 4 percent or $1 billion of their shares from June 30, 2011 through June 30, 2013. The companies are ranked according to their return on investment from these repurchases. As calculated by Fortuna Advisors, a New York City-based consultancy that compiled the data for Institutional Investor, buyback ROI measures the overall rate of return of buybacks, based on the internal rate of return of the cash flows associated with them. Buyback strategy tracks the performance of the underlying stock in terms of annualized total shareholder return. Once Fortuna determines buyback ROI and buyback strategy, buyback effectiveness can then be calculated as simply the difference between the two, determined as compounded return.

How the S&P 500 Stack Up as Stock Repurchasers
Company Industry Market
Capitalization
$ Total
Buyback
$ Total
Buyback
/ Market Cap
Buyback
Strategy
Buyback
Effectiveness
Buyback ROI
Average$38,681$2,9129.3%13.5%10.4%25.0%
Median$15,858$1,3508.1%13.5%9.7%24.1%
101Northrop Grumman Corp.Capital Goods$19,472$3,51918.1%14.1%13.1%29.1%
102FiservSoftware and Services$11,640$9888.5%18.6%8.8%29.0%
103Wells Fargo & Co.Banks$218,582$7,1003.2%19.9%7.6%28.9%
104Monsanto Co.Materials$52,743$1,0261.9%26.4%1.8%28.7%
105Applied MaterialsSemiconductors and Semiconductor Equipment$17,928$1,78910.0%4.4%23.2%28.6%
106Raytheon Co.Capital Goods$21,463$1,9369.0%17.5%9.4%28.6%
107Tyco InternationalCommercial and Professional Services$15,289$8005.2%19.2%7.8%28.5%
108JPMorgan Chase & Co.Diversified Financials$200,037$10,6915.3%11.4%14.7%27.7%
109AssurantInsurance$3,920$85221.7%16.6%9.4%27.6%
110The Nasdaq OMX GroupDiversified Financials$5,436$3907.2%9.8%15.6%27.0%
111Halliburton Co.Energy$38,885$1,1372.9%-5.7%34.5%26.8%
112Becton, Dickinson and Co.Healthcare Equipment and Services$19,198$2,13411.1%9.5%15.5%26.5%
113Automatic Data ProcessingSoftware and Services$33,412$1,1433.4%16.5%8.6%26.5%
114The Bank of New York Mellon Corp.Diversified Financials$32,556$2,2717.0%3.8%21.9%26.5%
115FMC Corp.Materials$8,312$4215.1%21.6%3.9%26.3%
116Franklin ResourcesDiversified Financials$28,919$1,3614.7%10.4%14.4%26.3%
117Lockheed Martin Corp.Capital Goods$34,714$3,1589.1%19.0%6.1%26.3%
118NikeConsumer Durables and Apparel$56,927$3,0755.4%25.0%0.9%26.2%
119Cisco Systems.Technology Hardware and Equipment$130,054$7,8636.0%19.3%5.6%25.9%
120Progressive Corp.Insurance$15,313$8785.7%13.7%10.6%25.7%
121Target Corp.Retailing$44,188$3,6858.3%21.9%3.1%25.7%
122Urban OutfittersRetailing$5,910$3295.6%16.0%8.0%25.4%
123The Chubb Corp.Insurance$21,939$2,44511.1%20.1%4.3%25.2%
124Electronic ArtsSoftware and Services$7,037$72910.4%-3.7%29.9%25.1%
125Lam Research Corp.Semiconductors and Semiconductor Equipment$7,215$1,76424.4%-2.5%28.1%25.0%
126Merck & Co.Pharmaceuticals, Biotechnology and Life Sciences$140,261$10,3037.3%19.9%4.2%24.9%
1273M Co.Capital Goods$75,473$5,5427.3%10.6%12.9%24.9%
128Unum GroupInsurance$7,840$94412.0%6.0%17.7%24.8%
129Time Warner CableMedia$32,728$4,12012.6%16.5%7.0%24.7%
130Cintas Corp.Commercial and Professional Services$5,580$60810.9%21.9%2.2%24.6%
131Robert Half International Commercial and Professional Services$4,637$3407.3%12.7%10.3%24.4%
132Computer Sciences Corp.Software and Services$6,576$4126.3%4.9%18.5%24.3%
133Illinois Tool Works.Capital Goods$31,156$2,5408.2%12.4%10.5%24.2%
134DIRECTVMedia$34,429$9,72628.2%11.5%11.3%24.1%
135Wal-Mart StoresFood and Staples Retailing$244,080$14,4545.9%22.5%1.3%24.1%
136Altria GroupFood, Beverage and Tobacco$70,091$2,0602.9%21.8%1.8%24.0%
137Harley-DavidsonAutomobiles and Components$12,302$7396.0%21.2%2.2%23.8%
138Baxter InternationalHealthcare Equipment and Services$37,640$2,6657.1%13.6%9.0%23.7%
139Texas InstrumentsSemiconductors and Semiconductor Equipment$38,654$3,95010.2%4.9%17.8%23.6%
140Pall Corp.Capital Goods$7,412$4065.5%11.9%10.2%23.3%
141L BrandsRetailing$14,252$9846.9%25.5%-1.8%23.3%
142Colgate-Palmolive Co.Household and Personal Products$53,437$3,5036.6%21.5%1.5%23.3%
143PepsicoFood, Beverage and Tobacco$126,481$5,9904.7%12.3%9.6%23.1%
144Wisconsin Energy Corp.Utilities$9,375$4314.6%21.1%1.5%23.0%
145Legg MasonDiversified Financials$3,879$74119.1%-0.7%23.8%22.9%
146Zimmer HoldingsHealthcare Equipment and Services$12,617$1,63913.0%10.2%11.5%22.8%
147McGraw Hill FinancialDiversified Financials$14,579$1,96913.5%20.2%1.8%22.4%
148Ross StoresRetailing$14,173$8656.1%30.6%-6.4%22.3%
149General Electric Co.Capital Goods$239,787$12,3125.1%12.6%8.5%22.3%
150Marriott InternationalConsumer Services$12,399$2,40019.4%13.3%7.8%22.1%
Source: Fortuna Advisors Analysis using data from the Capital IQ database. Financial Data from June 2011 to June 2013. Includes the 487 members of the current S&P 500 that were public for the full period. Market Capitalization as of: 06/30/2013. Companies Included here if $ Total Buyback / Market Capitalization is greater than 4% or if $ Total Buyback is greater than $1 Billion.

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