Here are Wall Street’s favorite value stocks Deep Dive

Bloomberg

Among sell-side analysts, 84% rate Mondelez, the manufacturer of Toblerone, Chips Ahoy, Oreo and many other snack brands, a ‘buy.’

Mark Hulbert, a MarketWatch columnist and stock market analyst with decades of experience, published an article that takes a balanced look at recent evidence that growth strategies may be replaced by value.

You can read Hulbert’s analysis here, and I urge you to do so. You may be surprised that his data point to the last dozen years as being an anomaly — value strategies have beaten growth over very long periods.

If you expect the outperformance of growth stocks to continue, you may be interested in this interview with Justin White, the manager of the T. Rowe Price New America Growth Fund /zigman2/quotes/200582479/realtime PRWAX -0.53% .

Getting back to value, Hulbert compared the recent performance of the S&P 500 Value Index against that of the S&P 500 Growth Index. These are overlapping subsets of the benchmark S&P 500 /zigman2/quotes/210599714/realtime SPX -0.30% . Here’s how all three indexes have performed during September.

FactSet

The S&P 500 Value Index is made up of 382 stocks, drawn from the S&P 500 by S&P Dow Jones Indices, based on price-to-book-value, price-to-earnings and price-to-sales ratios.

These ETFs track the S&P 500 Value Index:

• SPDR Portfolio S&P 500 Value ETF /zigman2/quotes/203509323/composite SPYV -0.77% — annual expenses are 0.04% of assets.

• Vanguard S&P 500 Value ETF /zigman2/quotes/201497396/composite VOOV -0.69% — expense ratio: 0.15%.

• iShares S&P 500 Value ETF /zigman2/quotes/206097129/composite IVE -0.76% — expense ratio: 0.18%.

• The Invesco S&P 500 Enhanced Value ETF /zigman2/quotes/206097129/composite IVE -0.76% takes a more ”aggressive” approach to value, concentrating the portfolio in 100 stocks among the S&P 500 with the highest value scores. Its expense ratio is 0.13%.

Analysts’ favorite value stocks

Among stocks in the S&P 500 Value Index, Apple /zigman2/quotes/202934861/composite AAPL +1.61% has, by far, the heaviest weighting, making up 8.7% of SPYV. But Apple doesn’t make the list below, as only 52% of analysts polled by FactSet rate the shares a “buy” or the equivalent. The next largest holding is J.P. Morgan Chase /zigman2/quotes/205971034/composite JPM -0.77% , with 44% “buy” ratings, and the third is AT&T /zigman2/quotes/203165245/composite T +0.35% , which also has 44% “buy” ratings.

Here are the 20 stocks in the S&P 500 Value Index with the highest percentage of “buy” or equivalent ratings among analysts polled by FactSet:

Company	Ticker	Share 'buy' ratings	Share neutral ratings	Share 'sell' ratings	Closing price - Oct. 21	Consensus price target	Implied 12-month upside potential
Assurant Inc.	/zigman2/quotes/202796064/composite AIZ	100%	0%	0%	$127.56	$143.25	12%
Marathon Petroleum Corp.	/zigman2/quotes/209634297/composite MPC	95%	5%	0%	$64.67	$78.74	22%
L3Harris Technologies Inc.	/zigman2/quotes/201997607/composite LHX	94%	6%	0%	$199.66	$241.67	21%
Pioneer Natural Resources Co.	/zigman2/quotes/206736173/composite PXD	93%	7%	0%	$125.39	$175.45	40%
Cigna Corp.	/zigman2/quotes/208431372/composite CI	92%	8%	0%	$166.74	$210.32	26%
FLIR Systems Inc.	/zigman2/quotes/207487690/composite FLIR	90%	10%	0%	$53.43	$58.89	10%
Equinix Inc.	/zigman2/quotes/208927761/composite EQIX	88%	8%	4%	$577.35	$578.27	0%
Centene Corp.	/zigman2/quotes/208900023/composite CNC	88%	12%	0%	$45.77	$68.35	49%
Norwegian Cruise Line Holdings Ltd.	/zigman2/quotes/204183397/composite NCLH	88%	12%	0%	$50.95	$64.56	27%
Jacobs Engineering Group Inc.		88%	12%	0%	$93.11	$94.93	2%
LKQ Corp.	/zigman2/quotes/210317139/composite LKQ	87%	13%	0%	$31.65	$35.83	13%
Valero Energy Corp.	/zigman2/quotes/200735463/composite VLO	86%	14%	0%	$93.21	$99.79	7%
Quanta Services Inc.	/zigman2/quotes/203420082/composite PWR	86%	14%	0%	$40.54	$44.14	9%
UnitedHealth Group Inc.	/zigman2/quotes/210453738/composite UNH	85%	15%	0%	$243.92	$285.88	17%
Baker Hughes Co. Class A	/zigman2/quotes/205323712/composite BKR	85%	15%	0%	$22.12	$29.13	32%
TechnipFMC PLC	/zigman2/quotes/207530935/composite FTI	85%	12%	3%	$23.25	$30.89	33%
PVH Corp.	/zigman2/quotes/208313660/composite PVH	84%	11%	5%	$89.35	$100.89	13%
Lennar Corp Class A	/zigman2/quotes/202536373/composite LEN	84%	16%	0%	$61.02	$64.50	6%
IQVIA Holdings Inc.	/zigman2/quotes/208640480/composite IQV	84%	11%	5%	$143.14	$176.06	23%
Mondelez International Inc. Class A	/zigman2/quotes/201769764/composite MDLZ	84%	16%	0%	$53.57	$61.67	15%
Source: FactSet

You can click the tickers for more about each company.

Don’t miss: How to identify U.S. stocks with attractive growth potential

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/zigman2/quotes/200582479/realtime

Add to watchlist PRWAX

T Rowe Price New America Growth Fund

US : U.S.: Nasdaq

$ 69.99

-0.37 -0.53%

Volume: 0.00

Jan. 22, 2021

/zigman2/quotes/210599714/realtime

Add to watchlist SPX

S&P 500 Index

US : S&P US

3,841.47

-11.60 -0.30%

Volume: 2.29B

Jan. 22, 2021 4:59p

/zigman2/quotes/203509323/composite

Add to watchlist SPYV

SPDR Portfolio S&P 500 Value ETF

US : U.S.: NYSE Arca

$ 34.98

-0.27 -0.77%

Volume: 3.34M

Jan. 22, 2021 8:00p

/zigman2/quotes/201497396/composite

Add to watchlist VOOV

Vanguard S&P 500 Value ETF

US : U.S.: NYSE Arca

$ 125.89

-0.87 -0.69%

Volume: 108,374

Jan. 22, 2021 8:00p

/zigman2/quotes/206097129/composite

Add to watchlist IVE

iShares S&P 500 Value ETF

US : U.S.: NYSE Arca

$ 130.28

-1.00 -0.76%

Volume: 646,325

Jan. 22, 2021 8:00p

/zigman2/quotes/206097129/composite

Add to watchlist IVE

iShares S&P 500 Value ETF

US : U.S.: NYSE Arca

$ 130.28

-1.00 -0.76%

Volume: 646,325

Jan. 22, 2021 8:00p

/zigman2/quotes/202934861/composite

Add to watchlist AAPL

Apple Inc.

US : U.S.: Nasdaq

$ 139.07

+2.20 +1.61%

Volume: 114.46M

Jan. 22, 2021 4:00p

P/E Ratio

42.57

Dividend Yield

0.59%

Market Cap

$2339.61 billion

Rev. per Employee

$1.86M

/zigman2/quotes/205971034/composite

Add to watchlist JPM

JPMorgan Chase & Co.

US : U.S.: NYSE

$ 133.79

-1.04 -0.77%

Volume: 12.93M

Jan. 22, 2021 4:00p

P/E Ratio

15.05

Dividend Yield

2.69%

Market Cap

$407.82 billion

Rev. per Employee

N/A

/zigman2/quotes/203165245/composite

Add to watchlist T

AT&T Inc.

US : U.S.: NYSE

$ 28.93

+0.10 +0.35%

Volume: 34.72M

Jan. 22, 2021 4:00p

P/E Ratio

19.05

Dividend Yield

7.19%

Market Cap

$206.16 billion

Rev. per Employee

$736,850

/zigman2/quotes/202796064/composite

Add to watchlist AIZ

Assurant Inc.

US : U.S.: NYSE

$ 134.90

-2.81 -2.04%

Volume: 305,343

Jan. 22, 2021 4:00p

P/E Ratio

20.52

Dividend Yield

1.96%

Market Cap

$8.00 billion

Rev. per Employee

$709,331

/zigman2/quotes/209634297/composite

Add to watchlist MPC

Marathon Petroleum Corp.

US : U.S.: NYSE

$ 45.75

+0.36 +0.79%

Volume: 3.65M

Jan. 22, 2021 4:00p

P/E Ratio

N/A

Dividend Yield

5.07%

Market Cap

$29.77 billion

Rev. per Employee

$2.03M

/zigman2/quotes/201997607/composite

Add to watchlist LHX

L3Harris Technologies Inc.

US : U.S.: NYSE

$ 183.80

+0.67 +0.37%

Volume: 1.06M

Jan. 22, 2021 4:00p

P/E Ratio

30.43

Dividend Yield

1.85%

Market Cap

$38.62 billion

Rev. per Employee

N/A

/zigman2/quotes/206736173/composite

Add to watchlist PXD

Pioneer Natural Resources Co.

US : U.S.: NYSE

$ 131.16

+1.16 +0.89%

Volume: 2.52M

Jan. 22, 2021 4:00p

P/E Ratio

129.43

Dividend Yield

1.68%

Market Cap

$28.40 billion

Rev. per Employee

$4.16M

/zigman2/quotes/208431372/composite

Add to watchlist CI

Cigna Corp.

US : U.S.: NYSE

$ 223.42

-2.77 -1.22%

Volume: 1.42M

Jan. 22, 2021 4:00p

P/E Ratio

15.67

Dividend Yield

1.79%

Market Cap

$80.71 billion

Rev. per Employee

$2.09M

/zigman2/quotes/207487690/composite

Add to watchlist FLIR

Flir Systems Inc.

US : U.S.: Nasdaq

$ 54.36

+0.18 +0.33%

Volume: 1.31M

Jan. 22, 2021 4:00p

P/E Ratio

51.64

Dividend Yield

1.25%

Market Cap

$7.13 billion

Rev. per Employee

$442,445

/zigman2/quotes/208927761/composite

Add to watchlist EQIX

Equinix Inc.

US : U.S.: Nasdaq

$ 721.16

+1.26 +0.18%

Volume: 484,885

Jan. 22, 2021 4:00p

P/E Ratio

141.49

Dividend Yield

1.48%

Market Cap

$64.26 billion

Rev. per Employee

$659,039

/zigman2/quotes/208900023/composite

Add to watchlist CNC

Centene Corp.

US : U.S.: NYSE

$ 61.51

-1.24 -1.98%

Volume: 3.90M

Jan. 22, 2021 4:00p

P/E Ratio

17.09

Dividend Yield

N/A

Market Cap

$35.66 billion

Rev. per Employee

$1.32M

/zigman2/quotes/204183397/composite

Add to watchlist NCLH

Norwegian Cruise Line Holdings Ltd.

US : U.S.: NYSE

$ 24.59

-0.40 -1.60%

Volume: 11.29M

Jan. 22, 2021 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$7.76 billion

Rev. per Employee

$179,510

/zigman2/quotes/210317139/composite

Add to watchlist LKQ

LKQ Corp.

US : U.S.: Nasdaq

$ 37.15

-0.46 -1.22%

Volume: 1.18M

Jan. 22, 2021 4:00p

P/E Ratio

19.01

Dividend Yield

N/A

Market Cap

$11.31 billion

Rev. per Employee

$245,218

/zigman2/quotes/200735463/composite

Add to watchlist VLO

Valero Energy Corp.

US : U.S.: NYSE

$ 59.45

+0.59 +1.00%

Volume: 3.00M

Jan. 22, 2021 4:00p

P/E Ratio

N/A

Dividend Yield

6.59%

Market Cap

$24.24 billion

Rev. per Employee

$10.60M

/zigman2/quotes/203420082/composite

Add to watchlist PWR

Quanta Services Inc.

US : U.S.: NYSE

$ 77.66

-0.15 -0.19%

Volume: 1.03M

Jan. 22, 2021 4:00p

P/E Ratio

28.71

Dividend Yield

0.31%

Market Cap

$10.78 billion

Rev. per Employee

$300,550

/zigman2/quotes/210453738/composite

Add to watchlist UNH

UnitedHealth Group Inc.

US : U.S.: NYSE

$ 347.55

-7.45 -2.10%

Volume: 2.59M

Jan. 22, 2021 4:00p

P/E Ratio

21.68

Dividend Yield

1.44%

Market Cap

$329.76 billion

Rev. per Employee

N/A

/zigman2/quotes/205323712/composite

Add to watchlist BKR

Baker Hughes Co.

US : U.S.: NYSE

$ 22.17

-0.38 -1.69%

Volume: 7.02M

Jan. 22, 2021 4:00p

P/E Ratio

N/A

Dividend Yield

3.25%

Market Cap

$22.95 billion

Rev. per Employee

N/A

/zigman2/quotes/207530935/composite

Add to watchlist FTI

TechnipFMC PLC

US : U.S.: NYSE

$ 11.21

-0.05 -0.44%

Volume: 7.44M

Jan. 22, 2021 4:00p

P/E Ratio

N/A

Dividend Yield

1.16%

Market Cap

$5.04 billion

Rev. per Employee

$363,154

/zigman2/quotes/208313660/composite

Add to watchlist PVH

PVH Corp.

US : U.S.: NYSE

$ 97.79

-1.59 -1.60%

Volume: 692,750

Jan. 22, 2021 4:00p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

$6.95 billion

Rev. per Employee

$460,884

/zigman2/quotes/202536373/composite

Add to watchlist LEN

Lennar Corp. Cl A

US : U.S.: NYSE

$ 84.62

+1.02 +1.22%

Volume: 2.49M

Jan. 22, 2021 4:00p

P/E Ratio

10.78

Dividend Yield

1.18%

Market Cap

$25.84 billion

Rev. per Employee

$2.37M

/zigman2/quotes/208640480/composite

Add to watchlist IQV

IQVIA Holdings Inc.

US : U.S.: NYSE

$ 185.59

-2.10 -1.12%

Volume: 823,954

Jan. 22, 2021 4:00p

P/E Ratio

206.69

Dividend Yield

N/A

Market Cap

$35.58 billion

Rev. per Employee

$165,567

/zigman2/quotes/201769764/composite

Add to watchlist MDLZ

Mondelez International Inc. Cl A

US : U.S.: Nasdaq

$ 56.25

+0.13 +0.23%

Volume: 6.24M

Jan. 22, 2021 4:00p

P/E Ratio

25.86

Dividend Yield

2.24%

Market Cap

$80.45 billion

Rev. per Employee

$323,350

Philip van Doorn covers various investment and industry topics. He has previously worked as a senior analyst at TheStreet.com. He also has experience in community banking and as a credit analyst at the Federal Home Loan Bank of New York.