1. STOCK IDEAS | Updated: 12‐Aug‐16
Yield Leaders ‐ Rankings for August 12, 2016
Yield Leaders is designed for investors who are looking for a combination of dividend income and capital appreciation. Published every Friday, our weekly
rankings are derived from a proprietary screen that heavily weights a metric called Shareholder Yield. While not very well‐known, this metric allows investors
to screen for companies that not only offer attractive dividend payments, but also offer the potential for capital appreciation that is inherent in large,
active buyback programs.
For those who aren't familiar with it, Shareholder Yield is calculated as the sum of the annualized dividend yield plus the percentage of shares outstanding
that the company has bought back over the past 12 months. For example, if Company XYZ has an annual dividend yield of 3%, and bought back 4% of its
shares outstanding over the past 12 months, this equates to a Shareholder Yield of 7% (3% + 4% = 7%). Essentially, this ratio allows investors to quantify and
screen for something that has always been very subjective: managements that are "shareholder‐friendly." As such, screening for Shareholder Yield provides a
much more targeted list of companies that are aggressively returning cash to their shareholders than you would get by looking at dividend yield alone.
In addition to the yield aspect, the "leaders" part of the title refers to the second component of the system: we require that stocks on our rankings show
above‐average 6‐month Relative Strength, which ensures that our list is populated with high‐yielding stocks that are also undergoing a healthy level of
accumulation. There are no growth, profitability, or valuation requirements.
To sum up, the companies on our list will feature management teams that are decidedly shareholder‐friendly, as evidenced by attractive dividend payouts
and/or active share buyback programs. While the system doesn't have any valuation criteria, readers will find that these companies will often feature
reasonable valuations as well.
All Yield Leaders content is published under the custom ticker "YIELD", which makes it simple to search for commentary and set up alerts.
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Questions or comments? Please send your thoughts directly to Jim Busch at jbusch@briefing.com.
Additions: EAT, IILG, KSS, LNC, MSI, RF, TSE
Deletions: FNF, GPS, IP, PFE, PKG, STT, TXN
To address feedback regarding the YIELD list's rate of turnover: much of the week‐to‐week turnover in the Yield Leaders list can be attributed to two
factors: 1) the earnings season‐related refresh of dividend and share repurchase data, and 2) stocks whose RS ranks are oscillating just above or below the
"Relative Strength > 50" requirement.
The following table contains a list of stocks that we believe should be particularly attractive to yield investors who are also looking for capital
appreciation. Yield Leader components are derived from a quantitative screen that relies on Shareholder Yield, 6‐month Relative Strength, and various
other secondary criteria. The rankings are based on Shareholder Yield Rank, in descending order. There are no growth, profitability, or valuation criteria
applied to this list.
As with any quantitative screen, we encourage readers to further investigate any metric that appears to be unusually high (for example, a Shareholder
Yield of 20+%), since it could be inflated by a large one‐time event that can't reasonably be extrapolated into the future.
*** If you would like to copy and paste the Yield Leaders components into your chart watchlist or spreadsheet, click here to pull up an unformatted ticker
list.
Yield Leaders: August 12, 2016
Mkt Cap RS Sh. Yield Div BuybackShareholder
Rank Name Ticker Price Sector (mln) Rank Rank Yield Yield Yield
1 Motorola Solutions MSI $75.52 Electronic Technology $12,591 53 100 2.2% 19.6% 21.7%
2 Navient NAVI $13.64 Finance $4,324 61 100 4.7% 16.2% 20.9%
3 American Int'l Group AIG $59.18 Finance $63,362 59 99 2.2% 17.4% 19.5%
4 Corning GLW $22.92 Electronic Technology $23,765 73 99 2.4% 16.1% 18.5%
5 Harley‐Davidson HOG $53.78 Consumer Durables $9,616 75 99 2.6% 13.7% 16.3%
6 Seagate Technology STX $31.75 Electronic Technology $9,481 73 98 7.9% 7.6% 15.5%
7 Kohl's KSS $44.19 Retail Trade $8,118 52 97 4.5% 9.5% 14.1%
8 Brinker International EAT $52.72 Consumer Services $2,937 71 97 2.4% 11.5% 13.9%
9 Windstream WIN $9.04 Communications $870 58 97 6.6% 7.2% 13.9%
10 NetApp NTAP $28.11 Electronic Technology $7,822 68 97 2.7% 10.9% 13.6%
11 Best Buy BBY $34.62 Retail Trade $11,174 60 97 3.2% 10.2% 13.4%
12 Cypress Semiconductor CY $10.92 Electronic Technology $3,507 76 96 4.0% 8.8% 12.9%
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2. 13 QUALCOMM QCOM $61.74 Electronic Technology $90,983 77 94 3.4% 8.1% 11.6%
14 WestRock WRK $45.27 Process Industries $11,385 86 94 3.3% 8.0% 11.3%
15 LPL Financial LPLA $27.05 Finance $2,409 69 93 3.7% 7.2% 10.9%
16 American Eagle Outfitters AEO $18.80 Retail Trade $3,401 82 93 2.7% 8.2% 10.9%
17 United Technologies UTX $109.18Producer Manufacturing $91,376 57 91 2.4% 7.8% 10.2%
18 Eaton Vance EV $38.71 Finance $4,408 70 91 2.7% 7.4% 10.2%
19 Interval Leisure Group IILG $17.56 Commercial Services $2,197 83 91 2.7% 7.3% 10.1%
20 Yum! Brands YUM $89.98 Consumer Services $35,082 64 91 2.0% 8.0% 10.0%
21 NGL Energy Partners NGL $18.49 Industrial Services $1,951 95 91 8.4% 1.6% 10.0%
22 HP Inc HPQ $14.30 Electronic Technology $24,462 76 91 3.5% 6.5% 10.0%
23 KKR & Co KKR $14.81 Finance $11,901 63 91 4.3% 5.5% 9.8%
24 Lincoln National LNC $45.66 Finance $10,629 65 90 2.2% 7.6% 9.8%
25 AbbVie ABBV $66.95 Health Technology $109,031 66 90 3.4% 6.1% 9.6%
26 Discover Financial Services DFS $58.05 Finance $23,431 61 89 2.1% 7.5% 9.5%
27 Barnes & Noble BKS $13.23 Retail Trade $973 73 89 4.5% 4.9% 9.4%
28 Energy Transfer Equity ETE $16.95 Industrial Services $17,709 97 88 6.7% 2.3% 9.1%
29 Cummins CMI $127.11Producer Manufacturing $21,436 73 88 3.2% 5.7% 9.0%
30 CA Inc CA $34.35 Technology Services $14,391 60 88 3.0% 5.9% 8.9%
31 Targa Resources TRGP $42.25 Energy Minerals $7,040 80 88 8.6% 0.1% 8.7%
32 Sysco SYY $51.76 Distribution Services $29,168 54 87 2.4% 6.2% 8.6%
33 Regions Financial RF $9.30 Finance $11,673 51 87 2.8% 5.8% 8.6%
34 Penske Automotive PAG $41.30 Retail Trade $3,518 71 87 2.7% 5.8% 8.5%
35 Western Union WU $21.08 Technology Services $10,281 60 87 3.0% 5.5% 8.5%
36 Fifth Third Bancorp FITB $19.24 Finance $14,745 61 86 2.7% 5.6% 8.3%
37 Apple AAPL $107.93Electronic Technology $581,575 55 86 2.1% 6.1% 8.2%
38 Archer‐Daniels‐Midland ADM $43.93 Process Industries $25,557 66 86 2.7% 5.4% 8.1%
39 General Dynamics GD $151.30Electronic Technology $46,189 59 86 2.0% 6.1% 8.1%
40 Greenbrier GBX $31.65 Producer Manufacturing $893 64 85 2.7% 5.4% 8.0%
41 Morgan Stanley MS $29.38 Finance $56,169 69 85 2.7% 5.1% 7.9%
42 Aflac AFL $73.07 Finance $29,928 59 85 2.2% 5.5% 7.8%
43 Nu Skin NUS $58.23 Consumer Non‐Durables $3,257 96 84 2.4% 5.2% 7.7%
44 Avery Dennison AVY $78.30 Process Industries $6,958 55 84 2.1% 5.6% 7.7%
45 Time Warner TWX $80.42 Consumer Services $62,554 62 83 2.0% 5.4% 7.4%
46 Apollo Global Management APO $18.69 Finance $3,453 75 82 6.7% 0.6% 7.3%
47 3M Company MMM $181.00Producer Manufacturing $109,396 54 82 2.5% 4.8% 7.2%
48 AES Corporation AES $12.24 Utilities $8,067 57 82 3.6% 3.6% 7.2%
49 Trinseo TSE $53.35 Process Industries $2,476 90 81 2.2% 4.9% 7.2%
50 Caterpillar CAT $83.24 Producer Manufacturing $48,631 66 81 3.7% 3.4% 7.1%
Data source: FactSet
Lead Analyst & Developer of the Yield Leaders system: Jim Busch
Fundamental Analyst: Robert Reid
Value Leaders content can be found on the Stock Ideas page, located within the Investing & Trading menu. On Live In Play, all of the Value Leaders content
can be searched for, and have alerts generated by, the "VALUE" ticker. Comments or suggestions? Please send them to strategy@briefing.com.
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