Goldman’s buybacks basket: Buyback growth will be 13% in 2024

seekingalpha04-23

Goldman Sachs analysts rebalanced their “buybacks basket” as 2024 buyback growth is forecasted to be 13%. According to a US Weekly Kickstart report, S&P 500 (SP500) cash spending grew by 4% to $3.4T ...

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According to a US Weekly Kickstart report, S&P 500 (SP500) cash spending grew by 4% to $3.4T ...</p>\n\n<a href=\"https://seekingalpha.com/news/4092088-goldmans-buybacks-basket-buyback-growth-will-be-13-in-2024\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman’s buybacks basket: Buyback growth will be 13% in 2024</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman’s buybacks basket: Buyback growth will be 13% in 2024\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-23 01:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4092088-goldmans-buybacks-basket-buyback-growth-will-be-13-in-2024><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Goldman Sachs analysts rebalanced their “buybacks basket” as 2024 buyback growth is forecasted to be 13%. According to a US Weekly Kickstart report, S&P 500 (SP500) cash spending grew by 4% to $3.4T ...</p>\n\n<a href=\"https://seekingalpha.com/news/4092088-goldmans-buybacks-basket-buyback-growth-will-be-13-in-2024\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DFS","symbol_name":"发现金融","start_time":0,"source_url":"https://seekingalpha.com/news/4092088-goldmans-buybacks-basket-buyback-growth-will-be-13-in-2024","article_id":"2429312974","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1219204969/image_1219204969.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429312974","pubTimestamp":1713806588,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Goldman Sachs analysts rebalanced their “buybacks basket” as 2024 buyback growth is forecasted to be 13%. 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According to a US Weekly Kickstart report, S&P 500 (SP500) cash spending grew by 4% to $3.4T last year. Also, overall growth was restricted by a 13% decline in buyback activity, “one of the most volatile uses of cash,” analysts said.  The S&P 500 (SP500) cash spending was also limited by EPS growth at just 1% while corporations were concerned about a recession.  However, capex and R&D increased by 10%, dividends rose by 4%, while cash M&A spending grew by 34%, Analyst David J. Kostin reported. “The annual changes mask shifting priorities on a quarterly year-over-year basis,” he wrote. “Following 13% growth in 1H 2023, capex grew by just 3% in 2H 2023. In contrast, S&P 500 (SP500) buybacks fell by more than 20% in 1H 2023, fell by 8% in 3Q 2023, but grew 5% in 4Q 2023.” He explained that EPS growth is the most significant driver of buyback growth, therefore a reacceleration in EPS growth, particularly among sectors such as tech (XLK) and communications (XLC) would drive a rebound in buybacks.  Goldman data suggests that activity is running 50% above the levels, compared to 2023, with growth that benefits from easier year-over-year comparisons, analysts said. “However, rich valuations, a surge in interest rates, and the 1% excise tax on buybacks will likely weigh on buyback activity on the margin.” These are the constituents of Goldman’s buyback basket (Data as of April 18): Communication services (XLC)  Fox Corp. (FOXA) - Trailing 12-month yield buyback: 12% Meta Platforms (META) - Trailing 12-month yield buyback: 9% T-Mobile US (TMUS) - Trailing 12-month yield buyback: 8% Comcast Corp. (CMCSA) - Trailing 12-month yield buyback: 8% Alphabet Inc. (GOOGL) - Trailing 12-month yield buyback: 6%  Consumer discretionary (XLY)  General Motors (GM) - Trailing 12-month yield buyback: 24% MGM Resorts International (MGM) - Trailing 12-month yield buyback: 18% Expedia Group Inc. (EXPE) - Trailing 12-month yield buyback: 16% Booking Holdings (BKNG) - Trailing 12-month yield buyback: 14% PulteGroup Inc. (PHM) - Trailing 12-month yield buyback: 10%  Consumer Staples (XLP)  Archer-Daniels-Midland (ADM) - Trailing 12-month yield buyback: 5% J.M. Smucker (SJM) - Trailing 12-month yield buyback: 4% Bunge Global SA (BG) - Trailing 12-month yield buyback: 4%  Energy (XLE)  Marathon Petroleum (MPC) - Trailing 12-month yield buyback: 22% Valero Energy Corp. (VLO) - Trailing 12-month yield buyback: 11%  Financials (XLF)  State Street Corp. (STT) - Trailing 12-month yield buyback: 14%  Wells Fargo & Co. (BK) - Trailing 12-month yield buyback: 9% Bank of New York Mellon - Trailing 12-month yield buyback: 8% Synchrony Financial (SYF) - Trailing 12-month yield buyback: 8% Fiserv Inc. (FI) - Trailing 12-month yield buyback: 8% Discover Financial Services (DFS) - Trailing 12-month yield buyback: 7% Citigroup Inc. (C) - Trailing 12-month yield buyback: 7%  Health care (XLV)  Cardinal Health (CAH) - Trailing 12-month yield buyback: 8% Hologic Inc. (HOLX) - Trailing 12-month yield buyback: 6% HCA Healthcare Inc. (HCA) - Trailing 12-month yield buyback: 6% Universal Health Services (UHS) - Trailing 12-month yield buyback: 6% Laboratory of America (LH) - Trailing 12-month yield buyback: 5% McKesson Corp. (MCK) - Trailing 12-month yield buyback: 5%  Industrials (XLI)  Builders FirstSource (BLDR) - Trailing 12-month yield buyback: 21% Verisk Analytics (VRSK) - Trailing 12-month yield buyback: 10% Expeditors International (EXPD) - Trailing 12-month yield buyback: 9% RTX Corp. (RTX) - Trailing 12-month yield buyback: 9%  Information technology (XLK)  Jabil Inc. (JBL) - Trailing 12-month yield buyback: 9% NetApp Inc. (NTAP) - Trailing 12-month yield buyback: 8% Broadcom Inc. (AVGO) - Trailing 12-month yield buyback: 6% F5 Inc. (FFIV) - Trailing 12-month yield buyback: 5% Akamai Technologies (AKAM) - Trailing 12-month yield buyback: 5% Qorvo Inc. (QRVO) - Trailing 12-month yield buyback: 5% Lam Research Corp. (LRCX) - Trailing 12-month yield buyback: 5% Super Micro Computer (SMCI) - Trailing 12-month yield buyback: 5% Salesforce Inc. (CRM) - Trailing 12-month yield buyback: 4% Fortinet Inc. (FTNT) - Trailing 12-month yield buyback: 4% VeriSign Inc. (VRSN) - Trailing 12-month yield buyback: 4% Apple Inc. (AAPL) - Trailing 12-month yield buyback: 4% Juniper Networks (JNPR) - Trailing 12-month yield buyback: 4% Cognizant Tech Solutions (CTSH) - Trailing 12-month yield buyback: 4% KLA Corp. (KLAC) - Trailing 12-month yield buyback: 4%  Materials (XLB) Steel Dynamics Inc. (STLD) - Trailing 12-month yield buyback: 9% Real estate (XLRE) CBRE Group Inc. (CBRE) - Trailing 12-month yield buyback: 3% Utilities (XLU) NRG Energy Inc. (NRG) - Trailing 12-month yield buyback: 16% More on S&P 500 Index:  Fed's Commercial Banking Report Shows Economic Headwinds, But Deposit Growth Bucks Trend S&P 500: Capitulation? Week Starting 22nd April (Technical Analysis) Powell Playing Games: 'Sell In May' Is Now 'Sell Before May' Dow, S&P, and Nasdaq tick up as further earnings data arrives Goldman’s debt issuers stocks basket","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2429312974"}