Buyback Scorecard The Most and Least Effective Stock Buyback Programs Best and Worst Programs Industry Comparisons

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 1—50 | 51—100 | 101—150 | 151—200 | 201—250 | 251—268
	Company	Industry	Market Capitalization	$ Total Buyback	$ Total Buyback / Market Cap	Buyback Strategy	Buyback Effectiveness	Buyback ROI
	Average		$38,681	$2,912	9.3%	13.5%	10.4%	25.0%
	Median		$15,858	$1,350	8.1%	13.5%	9.7%	24.1%
51	Fidelity National Information Services	Software and Services	$12,557	$984	7.8%	17.5%	18.9%	39.7%
52	The Kroger Co.	Food and Staples Retailing	$17,900	$2,151	12.0%	20.9%	15.0%	39.0%
53	Amphenol Corp.	Technology Hardware and Equipment	$12,413	$872	7.0%	20.6%	15.1%	38.7%
54	Starbucks Corp.	Consumer Services	$49,047	$1,371	2.8%	32.6%	4.4%	38.5%
55	XL Group	Insurance	$8,784	$1,186	13.5%	18.6%	16.5%	38.1%
56	Boston Scientific Corp.	Healthcare Equipment and Services	$12,506	$1,293	10.3%	9.6%	25.7%	37.8%
57	The Interpublic Group of Cos.	Media	$6,233	$813	13.0%	12.3%	22.6%	37.7%
58	Kimco Realty Corp.	Real Estate	$8,760	$722	8.2%	16.0%	18.6%	37.5%
59	The Travelers Cos.	Insurance	$30,115	$3,745	12.4%	21.1%	12.7%	36.5%
60	Johnson & Johnson	Pharmaceuticals, Biotechnology and Life Sciences	$241,171	$25,845	10.7%	18.6%	14.7%	36.0%
61	Kimberly-Clark Corp.	Household and Personal Products	$37.360	$2,118	5.7%	27.9%	6.3%	35.9%
62	eBay	Software and Services	$67,122	$2,123	3.2%	31.1%	3.7%	35.9%
63	Viacom	Media	$33,010	$5,113	15.5%	19.0%	14.2%	35.9%
64	Union Pacific Corp.	Transportation	$72,015	$3,117	4.3%	25.1%	8.6%	35.8%
65	Honeywell International	Capital Goods	$62,423	$1,500	2.4%	17.4%	15.0%	35.0%
66	The Hershey Co.	Food, Beverage and Tobacco	$19,975	$1,008	5.0%	28.6%	4.8%	34.8%
67	Dover Corp.	Capital Goods	$13,288	$1,247	9.4%	9.7%	22.63%	34.5%
68	Principal Financial Group	Insurance	$10,989	$684	6.2%	12.6%	19.4%	34.5%
69	Tyson Foods	Food, Beverage and Tobacco	$9,112	$659	7.2%	16.3%	15.6%	34.4%
70	Fifth Third Bancorp	Banks	$15,923	$1,314	8.3%	19.2%	12.7%	34.3%
71	Akamai Technologies	Software and Services	$7,561	$456	6.0%	11.0%	21.0%	34.3%
72	Scripps Networks Interactive	Media	$9,839	$1,050	10.7%	17.9%	13.9%	34.3%
73	Macy's	Retailing	$18,415	$2,279	12.4%	34.3%	-0.2%	34.0%
74	Aetna	Healthcare Equipment and Services	$24,034	$3,154	13.1%	20.5%	11.1%	34.0%
75	Pfizer	Pharmaceuticals, Biotechnology and Life Sciences	$198,681	$12,681	6.4%	23.6%	8.4%	33.9%
76	CVS Caremark Corp.	Food and Staples Retailing	$70,011	$6,660	9.5%	26.9%	5.4%	33.8%
77	The TJX Cos.	Retailing	$36,032	$2,622	7.3%	39.6%	-4.3%	33.5%
78	MasterCard	Software and Services	$69,841	$3,202	4.6%	42.7%	-6.4%	33.5%
79	Mylan	Pharmaceuticals, Biotechnology and Life Sciences	$11,875	$1,500	12.6%	12.7%	18.3%	33.3%
80	The Goldman Sachs Group	Diversified Financials	$72,388	$10,833	15.0%	4.4%	27.6%	33.2%
81	Torchmark Corp.	Insurance	$6,025	$942	15.6%	21.3%	9.8%	33.1%
82	Symantec Corp.	Software and Services	$15,660	$1,646	10.5%	11.3%	18.6%	32.0%
83	Medtronic	Healthcare Equipment and Services	$51.852	$2,967	5.7%	13.6%	15.9%	31.6%
84	AmerisourceBergen Corp.	Healthcare Equipment and Services	$12,892	$1,356	10.5%	16.8%	12.7%	31.6%
85	Accenture	Software and Services	$46,403	$4,277	9.2%	21.6%	8.1%	31.4%
86	General Mills	Food, Beverage and Tobacco	$31,285	$1,385	4.3%	17.2%	11.7%	30.8%
87	American Express Co.	Diversified Financials	$82,134	$7,644	9.3%	22.6%	6.7%	30.8%
88	Abbott Laboratories	Healthcare Equipment and Services	$54,373	$3,583	6.6%	25.2%	4.5%	30.8%
89	Dun & Bradstreet Corp.	Commercial and Professional Services	$3,893	$909	23.4%	10.1%	18.4%	30.4%
90	Omnicom Group	Media	$16,257	$1,876	11.5%	16.6%	11.4%	29.9%
91	Aon	Insurance	$19,892	$1,825	9.2%	11.9%	16.1%	29.9%
92	Walgreen Co.	Food and Staples Retailing	$41,769	$2,393	5.7%	9.4%	18.8%	29.9%
93	The J. M. Smucker Co.	Food and Staples Food, Beverage and Tobacco	$10,932	$840	7.7%	18.8%	9.3%	29.9%
94	O'Reilly Automotive	Retailing	$12,441	$2,586	20.8%	34.5%	-3.5%	29.8%
95	The Washington Post Co.	Media	$3,590	$176	4.9%	7.5%	20.7%	29.7%
96	TE Connectivity	Technology Hardware and Equipment	$18,919	$1,128	6.0%	13.5%	14.2%	29.7%
97	McKesson Corp.	Healthcare Equipment and Services	$26,162	$2,543	9.7%	17.0%	10.7%	29.5%
98	Amazon.com.	Retailing	$126,416	$1,237	1.0%	17.9%	9.8%	29.5%
99	Coca-Cola Enterprises	Food, Beverage and Tobacco	$9,635	$1,774	18.4%	16.3%	11.3%	29.4%
100	Comerica	Banks	$7,434	$549	7.4%	3.5%	25.0%	29.4%
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.