Morningstar

Exemplary Stewards with High Dividends

The Morningstar Capital Allocation Rating represents our assessment of the quality of a company's investment strategy related to allocating cash across new investments, paying dividends, and share buyback programs. Analysts assign one of three ratings––Exemplary, Standard, or Poor––and judge capital allocation from an equity shareholder’s perspective. Here we highlight the stocks with the highest rating that also have durable competitive advantages, are trading well below our fair value estimate, and have at least a 4% dividend yield.

Screen With Investor

	Name	Sector	Morningstar Rating for Stocks	Fair Value	Fair Value Uncertainty	Market Cap
	Ambev SA ADR ABEV	Consumer Defensive		$3.60	Medium	$45B
	Clorox Co CLX	Consumer Defensive		$155.00	Medium	$13B
	CME Group Inc Class A CME	Financial Services		$285.00	Low	$93B
	LOCK\|T$^n^ D<t FBM	Consumer Defensive		$169.00	Low	$189B

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