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Buyback Scorecard CFOs Share Their Stock Buyback Secrets Best and Worst Programs Industry Comparisons |
The table below ranks the 270 companies in the S&P 500 that bought back at least 4 percent of their shares from March 31, 2012, through March 31, 2014. 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.
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How the S&P 500 Stack Up as Stock Repurchasers 1—50 | 51—100 | 101—150 | 151—200 | 201—250 | 251—270 | ||||||||
| Company | Industry | Market Capitalization | $ Total Buyback | $ Total Buyback / Market Cap | Buyback Strategy | Buyback Effectiveness | Buyback ROI | |
| Average | $46,040 | $3,349 | 8.6% | 22.3% | 4.3% | 27.5% | ||
| Median | $21,057 | $1,530 | 7.2% | 22.4% | 3.4% | 27.4% | ||
| 201 | General Growth Properties | Real Estate | 19,439 | 1,123 | 5.8 | 17.5 | -2.8 | 14.2 |
| 202 | CarMax | Retailing | 10,447 | 525 | 5.0 | 21.0 | -5.7 | 14.1 |
| 203 | NetApp | Technology Hardware and Equipment | 12,224 | 2,472 | 20.2 | 0.5 | 13.4 | 13.9 |
| 204 | General Mills | Food, Beverage and Tobacco | 31,843 | 2,449 | 7.7 | 15.7 | -1.7 | 13.8 |
| 205 | Sysco Corp. | Food and Staples Retailing | 21,135 | 1,054 | 5.0 | 13.8 | -0.3 | 13.5 |
| 206 | The Travelers Cos. | Insurance | 29,983 | 4,286 | 14.3 | 22.5 | -7.6 | 13.2 |
| 207 | Republic Services | Commercial and Professional Services | 12,250 | 663 | 5.4 | 9.5 | 3.2 | 13.0 |
| 208 | XL Group | Insurance | 8,648 | 1,155 | 13.4 | 22.6 | -7.9 | 12.9 |
| 209 | Eli Lilly and Co. | Pharmaceuticals, Biotechnology and Life Sciences | 62,792 | 2,474 | 3.9 | 23.5 | -8.7 | 12.8 |
| 210 | ConAgra Foods | Food, Beverage and Tobacco | 13,045 | 597 | 4.6 | 11.3 | 1.2 | 12.7 |
| 211 | Symantec Corp. | Software and Services | 13,810 | 1,326 | 9.6 | 12.0 | 0.4 | 12.5 |
| 212 | Stanley Black & Decker | Capital Goods | 12,652 | 1,122 | 8.9 | 6.2 | 5.6 | 12.2 |
| 213 | The Estée Lauder Cos. | Household and Personal Products | 25,899 | 1,031 | 4.0 | 10.3 | 1.6 | 12.1 |
| 214 | Altria Group | Food, Beverage and Tobacco | 74,593 | 1,587 | 2.1 | 17.0 | -4.2 | 12.1 |
| 215 | Ross Stores | Retailing | 15,381 | 1,100 | 7.1 | 16.5 | -3.9 | 11.9 |
| 216 | W.W. Grainger | Capital Goods | 17,348 | 868 | 5.0 | 12.1 | -0.2 | 11.9 |
| 217 | Kimco Realty Corp. | Real Estate | 8,982 | 607 | 6.8 | 12.0 | -0.3 | 11.7 |
| 218 | Pepsico | Food, Beverage and Tobacco | 128,268 | 7,327 | 5.7 | 15.3 | -3.2 | 11.6 |
| 219 | The Procter & Gamble Co. | Household and Personal Products | 218,539 | 11,492 | 5.3 | 12.9 | -1.7 | 10.9 |
| 220 | eBay | Software and Services | 69,991 | 3,812 | 5.4 | 27.1 | -12.8 | 10.8 |
| 221 | Dollar General Corp. | Retailing | 17,398 | 1,792 | 10.3 | 16.6 | -5.0 | 10.8 |
| 222 | Baxter International | Healthcare Equipment and Services | 39,802 | 2,068 | 5.2 | 13.7 | -3.0 | 10.3 |
| 223 | Nordstrom | Retailing | 11,846 | 1,390 | 11.7 | 9.9 | 0.3 | 10.3 |
| 224 | Cameron International Corp. | Energy | 13,391 | 2,452 | 18.3 | 6.1 | 3.8 | 10.2 |
| 225 | Occidental Petroleum Corp. | Energy | 75,289 | 2,457 | 3.3 | -1.0 | 11.2 | 10.1 |
| 226 | Exxon Mobil Corp. | Energy | 422,099 | 35,222 | 8.3 | 8.2 | 1.7 | 10.0 |
| 227 | Leggett & Platt | Consumer Durables and Apparel | 4,528 | 243 | 5.4 | 22.3 | -10.2 | 9.8 |
| 228 | Kohl's Corp. | Retailing | 11,846 | 1.961 | 16.6 | 7.8 | 1.6 | 9.5 |
| 229 | The Chubb Corp. | Insurance | 21,893 | 2,337 | 10.7 | 15.3 | -5.0 | 9.5 |
| 230 | The AES Corp. | Utilities | 10,338 | 623 | 6.0 | 5.0 | 4.2 | 9.4 |
| 231 | Deere & Co. | Capital Goods | 33,569 | 3,466 | 10.3 | 4.5 | 4.2 | 8.8 |
| 232 | Yum! Brands | Consumer Services | 33,318 | 1,781 | 5.3 | 8.1 | 0.2 | 8.3 |
| 233 | EMC Corp. | Technology Hardware and Equipment | 55,571 | 4,090 | 7.4 | -0.3 | 8.4 | 8.1 |
| 234 | Intel Corp. | Semiconductors and Semiconductor Equipment | 128,347 | 6,603 | 5.1 | 0.2 | 7.7 | 8.0 |
| 235 | The J. M. Smucker Co. | Food, Beverage and Tobacco | 10,083 | 591 | 5.9 | 14.3 | -5.5 | 8.0 |
| 236 | Cisco Systems | Technology Hardware and Equipment | 115,466 | 13,305 | 11.5 | 8.2 | -0.3 | 7.9 |
| 237 | Citigroup | Banks | 144,627 | 2,159 | 1.5 | 23.2 | -12.6 | 7.8 |
| 238 | The Western Union Co. | Software and Services | 8,964 | 1,205 | 13.4 | -2.7 | 10.4 | 7.4 |
| 239 | Wal-Mart Stores | Food and Staples Retailing | 246,806 | 11,610 | 4.7 | 14.3 | -6.2 | 7.2 |
| 240 | Chevron Corp. | Energy | 227,015 | 8,830 | 3.9 | 7.5 | -2.1 | 5.2 |
| 241 | McDonald's Corp. | Consumer Services | 97,038 | 4,020 | 4.1 | 1.4 | 3.7 | 5.2 |
| 242 | Dollar Tree | Retailing | 10,761 | 1,448 | 13.5 | 9.7 | -4.4 | 4.8 |
| 243 | Expeditors International of Washington | Transportation | 7,968 | 769 | 9.7 | -2.0 | 6.6 | 4.4 |
| 244 | Hess Corp. | Energy | 26,116 | 2,536 | 9.7 | 715.1 | -9.8 | 3.7 |
| 245 | Altera Corp. | Semiconductors and Semiconductor Equipment | 11,507 | 642 | 5.6 | -5.0 | 8.1 | 2.7 |
| 246 | The Coca-Cola Co. | Food, Beverage and Tobacco | 170,332 | 9,187 | 5.4 | 8.7 | -5.8 | 2.4 |
| 247 | Staples | Retailing | 7,379 | 683 | 9.3 | -5.0 | 7.2 | 1.9 |
| 248 | Bed Bath & Beyond | Retailing | 14,649 | 2,285 | 15.6 | 4.5 | -2.7 | 1.7 |
| 249 | Ralph Lauren Corp. | Consumer Durables and Apparel | 14,417 | 1,105 | 7.7 | 0.0 | -0.5 | -0.4 |
| 250 | AT&T | Telecommunication Services | 182,604 | 24,951 | 13.7 | 7.2 | -7.4 | -0.8 |
| Source: Fortuna Advisors Analysis using data from the Capital IQ database. Financial Data from March 2012 to March 2014. Includes the 490 members of the current S&P 500 that were public for the full period. Market Capitalization as of: 03/31/2014. Companies Included here if $ Total Buyback / Market Capitalization is greater than 4% or if $ Total Buyback is greater than $1 Billion. | ||||||||