Goldman Sachs rebalanced its basket of Buyback Aristocrat stocks.
“We screen for S&P 500 (SP500) (NYSEARCA:SPY) (IVV) (VOO) Buyback Aristocrats by identifying companies that have reduced their share counts by 1% or more in at least nine of the past 10 years,” strategist David Kostin wrote.
“An equal-weight portfolio of Buyback Aristocrats, reconstituted and rebalanced annually, has outperformed the equal-weight S&P 500 (NYSEARCA:RSP) by an annualized average of 3 pp since 2012 and by 4 pp YTD.”
The stocks ranked by trailing 12-month buyback yield (the amount spent on buybacks divided by market cap) are:
| Company | Ticker | 12-Month Buyback Yield |
|---|---|---|
| Tapestry Inc. | (TPR) | 21 % |
| Invesco Ltd. | (IVZ) | 19 % |
| Aptiv PLC | (APTV) | 16 % |
| Globe Life | (GL) | 16 % |
| General Motors | (GM) | 15 % |
| American International Group | (AIG) | 15 % |
| Southwest Airlines | (LUV) | 15 % |
| Kroger Co. | (KR) | 13 % |
| eBay Inc. | (EBAY) | 12 % |
| Jabil Inc. | (JBL) | 12 % |
| Match Group | (MTCH) | 11 % |
| Expedia Group | (EXPE) | 11 % |
| Citigroup Inc. | (C) | 11 % |
| Marathon Petroleum | (MPC) | 10 % |
| Akamai Technologies | (AKAM) | 9 % |
| AppLovin Corp. | (APP) | 9 % |
| Charter Communications | (CHTR) | 6 % |
| Fox Corp. | (FOXA) | 6 % |
| Adobe Inc. | (ADBE) | 6 % |
| VeriSign Inc. | (VRSN) | 6 % |
| Dell Technologies | (DELL) | 6 % |
| 3M Co. | (MMM) | 6 % |
| Carrier Global | (CARR) | 6 % |
| Builders FirstSource | (BLDR) | 6 % |
| Comcast Corp. | (CMCSA) | 5 % |
| T-Mobile US | (TMUS) | 5 % |
| Molson Coors Beverage | (TAP) | 5 % |
| Skyworks Solutions | (SWKS) | 5 % |
| Trimble Inc. | (TRMB) | 5 % |
| F5 Inc. | (FFIV) | 5 % |
| NetApp Inc. | (NTAP) | 5 % |
| EPAM Systems | (EPAM) | 4 % |
| GoDaddy Inc. | (GDDY) | 4 % |
| Qualcomm Inc. | (QCOM) | 4 % |
| Fair Isaac Corp. | (FICO) | 4 % |
| Cisco Systems Inc. | (CSCO) | 4 % |
| TE Connectivity | (TEL) | 4 % |
| HP Inc. | (HPQ) | 4 % |
| ON Semiconductor | (ON) | 4 % |