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First-Quarter 2014 Corporate Buyback Scorecard; 101–150

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.

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
$ Total
$ Total
/ Market Cap
Buyback ROI
 Average $46,040$3,3498.6%22.3%4.3%27.5%
 Median $21,057$1,5307.2%22.4%3.4%27.4%
1013M Co. Capital Goods89,2388,6009.626.64.832.7
102Becton, Dickinson and Co.Healthcare Equipment and Services22,5991,1645.
103WellPointHealthcare Equipment and Services28,1194,25015.
104CR BardHealthcare Equipment and Services11,4601,34411.723.07.331.9
105Rockwell CollinsCapital Goods10,7708628.018.311.531.9
106Amphenol Corp.Technology Hardware and Equipment14,4997445.128.72.531.9
107American International GroupInsurance72,46711,46415.835.8-3.031.7
108Zimmer HoldingsHealthcare Equipment and Services15,9421,4649.226.93.631.4
109FedEx Corp.Transportation39,1744,23010.822.47.331.3
110Newell RubbermaidConsumer Durables and Apparel8,3395967.134.1-2.131.3
111General Motors Co.Automobiles and Components54,9397,53913.721.08.431.2
112Cigna Corp.Healthcare Equipment and Services22,7271,8268.035.2-3.131.1
113IntuitSoftware and Services22,0221,8448.416.612.431.1
114Omnicom GroupMedia18,7461,4797.927.13.231.1
115Marsh & McLennan Cos.Insurance27,0843.825.64.431.031.9
116Zions BanCorp.Banks5,72792316.
117HumanaHealthcare Equipment and Services17,4409475.49.619.030.5
118The Boeing Co.Capital Goods93,2904,3014.634.8-3.230.4
119Pall Corp.Capital Goods9,8226716.819.88.730.2
120Navient Corp.Diversified Financials10,6807206.729.20.730.2
121State Street Corp.Diversified Financials30,0204,72415.730.5-0.430.1
122Time WarnerMedia58,3185,83110.035.8-4.429.8
123United Technologies Corp.Capital Goods107,0771,5351.421.56.529.4
125Robert Half InternationalCommercial and Professional Services5,7673235.620.86.829.0
126MedtronicHealthcare Equipment and Services61,5903,8006.
127Wyndham Worldwide Corp.Consumer Services9,3841,22013.033.0-3.128.9
128Fluor Corp.Capital Goods12,4647546.116.510.328.5
129Wells Fargo & Co.Banks261,21810,2353.925.91.928.3
130Illinois Tool WorksCapital Goods34,5554,56613.225.02.528.1
131AppleTechnology Hardware and Equipment479,06945,8609.64.822.128.0
132The Goldman Sachs GroupDiversified Financials74,29612,16916.423.43.627.8
133Marriott InternationalConsumer Services16,5162,16313.
134The Bank of New York Mellon Corp.Diversified Financials40,1172,1515.425.11.927.5
135The TJX Cos.Retailing43,1342,8796.731.9-3.327.4
136LorillardFood, Beverage and Tobacco19,5881,1756.017.08.927.4
137Norfolk Southern Corp.Transportation32,0741,5654.917.58.127.0
138Covidien Healthcare Equipment and Services33,1702,6778.124.61.927.0
139InvescoDiversified Financials16,0277804.923.52.426.5
140VeriSignSoftware and Services7,1991,43219.923.82.126.4
141Johnson & JohnsonPharmaceuticals, Biotechnology and Life Sciences277,82629,34710.623.32.526.4
142Lam Research Corp.Semiconductors and Semiconductor Equipment8,9271,82120.412.612.226.4
143JPMorgan Chase & Co.Banks228,0046,6122.924.51.426.2
144CF Industries HoldingsMaterials14,4572,69118.617.97.026.2
145The Hartford Financial Services GroupInsurance15,7429005.735.7-7.225.9
146Harley-DavidsonAutomobiles and Components14,6558585.922.33.025.9
147CumminsCapital Goods27,3961,0483.812.212.025.7
148Scripps Networks InteractiveMedia11,1058537.732.5-5.225.7
149Merck & Co.Pharmaceuticals, Biotechnology and Life Sciences166,9399,8185.923.71.425.4
150Automatic Data ProcessingSoftware and Services37,2261,4063.822.12.625.3
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.