Real-time Estimate Cboe BZX  -  12:24 2022-06-29 pm EDT
155.08 USD   +0.98%
10:51aDollar Tree Announces Executive Leadership Changes; Company Reaffirms Fiscal 2022 Outlook
07:47aBed Bath & Beyond replaces CEO Tritton as sales sink
06/28Dollar Tree CFO, COO Leave Amid Executive Departures as Discount Retailer Affirms Outlook
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Bank of America most favored for activism defense in 2021 -Refinitiv data

05/03/2022 | 05:47pm EDT
FILE PHOTO: Person walks past a Bank of America sign in New York City

BOSTON (Reuters) - Bank of America ranked as the top financial adviser to companies targeted by activist investors in 2021, vaulting past three rivals to claim the top spot, according to Refinitiv data published on Tuesday.

During 2021, Bank of America advised on 35 campaigns, up from 28 reported for the previous year.

The top 9 advisers worked on 186 campaigns last year, roughly the same amount as the 187 they worked on in 2020 when the pandemic curbed activism. In 2019, activists targeted 197 companies.

Last year activists targeted ExxonMobil, Duke Energy, International Flavors and Fragrances, LabCorp and Dollar Tree among others.

Goldman Sachs, which ranked as the top financial adviser in 2020 and in 2019, according to Refinitiv data, slipped to the third spot with 33 campaigns. In 2020 Goldman advised on 52 campaigns.

Morgan Stanley moved into the second spot with 34 campaigns, up from 29 in 2020, the data show.

JP Morgan advised on 30 campaigns, up sharply from 9 campaigns in 2020, helping it rise to fifth spot from eighth.

Spotlight Advisors, which works for both companies and activists, took the fourth spot with 32 campaigns, roughly the same as in 2020 when it advised on 33 campaigns.

Various providers compile league tables that are often used to woo new clients. But they seldom tell the entire story, bankers say, noting that discrepancies can arise because many companies fend off activists privately and ask their advisers to stay silent about their involvement.

Elliott Management held on to its spot as the busiest activist, launching 14 campaigns last year after 16 in 2020. Jana Partners followed with 8 campaigns, up from 5 in 2020.

Olshan Frome Wolosky was the busiest law firm, working on 85 engagements for activists. Vinson & Elkins LLP, which handled 40 campaigns, including one for an activist, was No. 2. Sidley Austin LLP ranked third with 36 campaigns, including one for an activist.

Morrow Sodali and Innisfree were the top proxy solicitors.

(Reporting by Svea Herbst-Bayliss; editing by Richard Pullin)

By Svea Herbst-Bayliss

© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION -1.27% 31.855 Delayed Quote.-27.29%
DOLLAR TREE, INC. 1.47% 155.77 Delayed Quote.9.29%
DUKE ENERGY CORPORATION 0.26% 105.875 Delayed Quote.0.76%
INTERNATIONAL FLAVORS & FRAGRANCES INC. -0.93% 115.7 Delayed Quote.-20.92%
MORGAN STANLEY -0.05% 78.12 Delayed Quote.-20.37%
All news about DOLLAR TREE, INC.
10:51aDollar Tree Announces Executive Leadership Changes; Company Reaffirms Fiscal 2022 Outlo..
07:47aBed Bath & Beyond replaces CEO Tritton as sales sink
06/28Dollar Tree CFO, COO Leave Amid Executive Departures as Discount Retailer Affirms Outlo..
06/28Dollar Tree, Inc. joins Operation Homefront to collect school supplies for military chi..
06/28Dollar Tree to replace CFO, other top executives
06/28Dollar Tree Announces Departures of CFO Kevin Wampler, COO Thomas O'Boyle; Fiscal 2022 ..
06/28DOLLAR TREE, INC. : Change in Directors or Principal Officers, Regulation FD Disclosure, F..
06/28Dollar Tree Announces Executive Leadership Changes
06/28Dollar Tree, Inc. Announces Executive Resignations
06/28Dollar Tree, Inc. Announces Resignation of Kevin Wampler as Chief Financial Officer
More news
Analyst Recommendations on DOLLAR TREE, INC.
More recommendations
Financials (USD)
Sales 2023 28 122 M - -
Net income 2023 1 831 M - -
Net Debt 2023 1 942 M - -
P/E ratio 2023 18,9x
Yield 2023 -
Capitalization 34 485 M 34 485 M -
EV / Sales 2023 1,30x
EV / Sales 2024 1,21x
Nbr of Employees 136 226
Free-Float 98,6%
Duration : Period :
Dollar Tree, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends DOLLAR TREE, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 27
Last Close Price 153,57 $
Average target price 171,10 $
Spread / Average Target 11,4%
EPS Revisions
Managers and Directors
Michael A. Witynski President, Chief Executive Officer & Director
Kevin S. Wampler Chief Financial Officer
Richard W. Dreiling Executive Chairman
James A. Paisley Chief Information Officer
Thomas R. O’Boyle Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
DOLLAR TREE, INC.9.29%34 485
THE TJX COMPANIES-24.29%67 346
WAL-MART DE MÉXICO, S.A.B. DE C.V.-8.45%60 856