Buyback Boom: These 3 Companies Are Betting Billions on Their Own Stocks

Dollar Tree, Morgan Stanley, and Accenture recently announced a combined $24.5 billion in new, replenished, or increased share buyback programs. S&P 500 companies announced a record $665 billion in buybacks during early 2026, with full-year authorizations forecast to reach $1.55 trillion. Each company's buyback timing suggests management views shares as undervalued, with Dollar Tree and Morgan Stanley rallying while Accenture remains well off its highs.

In 1982, the U.S. Securities and Exchange Commission (SEC) adopted Rule 10b-18, providing companies with a safe harbor for qualifying share repurchases. Since then, publicly traded companies have been repurchasing their own shares in order to consolidate ownership and boost earnings per share (EPS). But for some firms, the timing of their stock buybacks indicates that management views the current share price as undervalued.

This year, companies are on a record-setting pace. According to Bloomberg, during the first four months of 2026, S&P 500 companies announced plans to repurchase $665 billion worth of shares, the highest total ever recorded in that same timeframe. And, based on historical rates, analysts now forecast authorized repurchases to reach $1.55 trillion for the full year. Participating in that shopping spree are three companies that have recently announced a collective $24.5 billion in new, replenished, or increased share repurchase plans.

Dollar Tree NASDAQ: DLTR replenished its share repurchase authorization to the tune of $2.5 billion. The board approved the authorization the previous day, and the amount represented approximately 10.7% of the company’s more than 192 million shares outstanding at the time Although Dollar Tree’s current authorization doesn’t have an expiration date, the company had already been active in the market, repurchasing $500 million of stock in June under its previous authorization. When the calendar turned to July, shares were down 5.13% year to date (YTD), presenting an opportunity as the stock’s momentum had recently shifted. Since its YTD low of $86.80 on May 13, DLTR has gained nearly 48% and now trades around 10% lower than its 52-week high of $142.40. The current rally can be partly attributed to July 8 upgrades from Raymond James (Outperform rating) and Goldman Sachs (from Sell to Neutral), as well as upwardly revised full-year guidance, with forecasted EPS increasing to a range of $6.70 to $7.10. With a low-volatility beta of 0.65, a TradeSmith financial health indicator that has been green for about a month, and more than 97% institutional ownership, the discount retailer’s buyback aligns with Wall Street’s improving sentiment. After posting EPS beats for five consecutive quarters and six out of the last seven, Dollar Tree is expected to report Q2 earnings on Sept. 2.

Ahead of its record-breaking Q2 earnings report on July 15, Morgan Stanley NYSE: MS reauthorized a massive $20 billion buyback —good for 5.6% of its shares outstanding—on June 24. The company’s current multi-year repurchase authorization doesn’t have an expiration date, and shares have ticked up sligh...