So-called dividend aristocrats are typically defined as companies that have raised their per-share payout every year for at least 25 years.
Wolfe strategist Chris Senyek said in a note to clients Wednesday that some of those aristocrats also score highly on another quality indicator — net stock buybacks.
"We've found Consistent Buybacks (companies with a net share count decline for at least 10 consecutive years) and Dividend Aristocrats (25 years of consistent dividend growth) to be the top performing cash usage themes over the past 20+ years.
And of the 22 analysts who cover the stock, 12 have hold ratings and one has a sell, according to Refinitiv.
The Invesco BuyBack Achievers ETF (PKW) , which buys companies that have reduced their share count by more than 5% over the past year, is up about 9.8% year to date.
Persons:
Wolfe, Chris Senyek, We've, Senyek, Lowe's, — CNBC's Michael Bloom
Organizations:
Wolfe Research, Colgate, Palmolive, Companies
Locations:
U.S