Five interesting things that Hodges Capital research analysts discovered this week...
Buybacks: In the three months leading to June, S&P 500 companies spent just $175B on share buybacks, a 20% tumble compared with the year before, according to preliminary S&P data reported by the Financial Times, the lowest amount since the early days of the pandemic.
Hawaii: Per Hedgeye, visitation is starting to come back and has recovered from -70% to -50% on a rolling 7-day basis.
E-commerce: The National Bureau of Statistics recently reported 9.5% cumulative y/y growth for online retail sales for January-August 2023. Also, January-August 2023 online sales accounted for 26.4% of total retail sales.
DFW Office Employment: According to Yardi Systems, Dallas has added nearly 60,000 office jobs in the last 12 months, double the amount added in second place Boston, and has accounted for 15% of all office jobs added during that timeframe nationwide.
Fiscal Trends: The federal government has run a budget deficit every year from 1980 to 2022, except from 1998 to 2001, contributing to a national debt of $30.9 trillion in 2022, according to USAFacts.
HCM is an Investment Advisory Firm registered with the Securities and Exchange Commission (“SEC”), is a wholly owned subsidiary of Hodges Capital Holdings and serves as investment advisor to the Hodges Funds. HCM is affiliated with First Dallas Securities, Inc, a broker-dealer, and investment advisor registered with the SEC.
This discussion is not intended to be a forecast of future events and should not be considered a recommendation to buy or sell any security. Past performance is not indicative of future results. Investing involves risk. Principal loss is possible. Investing in smaller companies involves additional risks such as limited liquidity and greater volatility. No current or prospective client should assume that information referenced in this communication is a recommendation to buy or sell any security or is a substitute for personalized investment advice from your individual advisor. HCM does not provide tax or legal advice. Consult your tax or legal advisor for any related questions.
All information referenced herein is from sources believed to be reliable and is provided as general market commentary and does not constitute investment advice. This material was created for informational purposes only and the opinions expressed are solely those of HCM. HCM shall not in any way be liable for claims and makes no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information. The data and information are provided as of the date referenced and are subject to change without notice.