Investing

Over $40 Billion in Share Buyback Announcements in February (KSS, DOX, DDS, TJX, WLP, WAT, LEA, PLXS, ARG, CVC, KLAC, VAR, COP, MMM, CHKP, ISRG, ALL, CMI, GME, GD, ROST, MHS, ERTS, PFE, TUP)

Many shareholders argue that share repurchase and stock buyback plans are generally a waste of shareholder capital aimed solely as a short-term share price targeting mechanism.  Many would prefer to see dividends.  Still, share buyback plans remain a top method of ‘returning capital to shareholders’ and the share buybacks in February have come at a feverish pace.

The feverish buyback pace we are showing does not even include the many buyback plans of under $200 million.  The companies leading the buyback charge with new announcements so far in February are as follows: Kohl’s Corporation (NYSE: KSS); Amdocs Ltd. (NYSE: DOX); Dillard’s Inc. (NYSE: DDS); The TJX Companies, Inc. (NYSE: TJX); Wellpoint, Inc. (NYSE: WLP); Waters Corp. (NYSE: WAT); Lear Corp. (NYSE: LEA); Plexus Corporation (NASDAQ: PLXS); Airgas, Inc. (NYSE: ARG); Cablevision Systems Corporation (NYSE: CVC); KLA-Tencor Corporation (NASDAQ: KLAC); Varian Medical System Inc. (NYSE: VAR); ConocoPhilips (NYSE: COP); 3M Co. (NYSE: MMM); Check Point Software Tecnologies Ltd. (NASDAQ: CHKP); Intuitive Surgical, Inc. (NASDAQ: ISRG); Allstate Corporation (NYSE: ALL); Cummins Inc. (NYSE: CMI); Gamestop Corporation (NYSE: GME); General Dynamics Corporation (NYSE: GD); Ross Stores, Inc. (NASDAQ: ROST); Medco Health Solutions Inc. (NYSE: MHS); Electronic Arts Inc. (NASDAQ: ERTS); Pfizer, inc. (NYSE: PFE); and Tupperware Brands Corporation (NYSE: TUP).

The tally here in just these plans comes to about $41 billion in new buyback announcements so far just in February, and that is after a whopping $34 billion identified in January.  We did not break these out by date and these are most recent to farthest back in February.

Kohl’s Corporation (NYSE: KSS) increased its share repurchase authorization under its existing share repurchase program by $2.6 billion to $3.5 billion.  That added 2.6 billion compares to a market cap of $15.7 billion today.

Amdocs Ltd. (NYSE: DOX) declared $1 billion over 2 years against a market cap of $5.5 billion.

Dillard’s Inc. (NYSE: DDS) added some $250 million to its prior buyback plan and its market cap is $2.6 billion .

The TJX Companies, Inc. (NYSE: TJX) allocated some $1.2 billion this year and that compares to a market cap of $19.5 billion.

Wellpoint, Inc. (NYSE: WLP) expanded its prior plan by $1.6 billion and that is against a market cap of close to $25 billion.

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