Stock buybacks from S&P 500 firms fell 15.1% Q/Q and 25.8% Y/Y in Q3 to $93.4B, per FactSet,...
Stock buybacks from S&P 500 firms fell 15.1% Q/Q and 25.8% Y/Y in Q3 to $93.4B, per FactSet, a sign the repurchasing binge launched by cash-rich and investment-averse U.S. companies may be cooling down. Nonetheless, buybacks for the trailing 12 months amounted to 65.3% of free cash flow. For the consumer discretionary and consumer staples sectors, the figures were a stunning 106.8% and 116.3%. Total shares outstanding for the S&P reached their lowest point since Q4 '08. (previous)
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