Tampa Bay's largest companies saw big stock price gains in 2019
Tech Data and Jabil Inc. led the way.

By Graham Brink
Tampa Bay Times
Published: Jan 1, 2020

It was a good year to own a broad range of stocks, including many of Tampa Bay's 10 largest companies. Six of the local heavyweights beat the S&P 500, which finished up 29 percent. Two came close, and two have some explaining to do to shareholders.

The clear winner locally was Largo's Tech Data (up 77 percent). A $10,000 investment on Jan. 1 would have grown to $17,700 by the end of the year. The share price soared in September when rumors swirled that the company, which sells tech products and provides services to clients in 100 countries, might be sold. The price jumped again in late November when New York investment fund Apollo Global Management sweetened its offer from $5.4 billion to $6 billion.

St. Petersburg's Jabil Inc. (up 69 percent) also had a good 2019, powered by a steep run-up in the second half of the year. The share price leaped nearly 9 percent in one day after the high tech manufacturer's financial report for September, October and November beat expectations and raised the company's profit outlook for the full year.

Tampa door maker Masonite International (up 57 percent) had a strong January and then stalled out until September, when it started a steady climb on better than expected financial numbers. The share price almost rose enough to recapture the previous year's losses.

Another Tampa company, Sykes Enterprises (up 51 percent), rebounded from a lackluster 2018. The highlight came Nov. 4 when the staffing company's share price surged 18 percent on a better than expected earnings report.

WellCare Health Plans (up 42 percent) remained on a roll. The share price was up and down at the beginning of the year and then spiked on news that St. Louis' Centene had made a bid to buy the Tampa company, a deal expected to close in the next six months. The share price is up more than 300 percent over the last five years, by far the largest gain among Tampa Bay's 10 largest companies.

Pasco County's Welbilt (up 40 percent) had a strong start to the year, leveled off and then shot up again. One worrisome sign: The stock price of the food service equipment manufacturer has tumbled more than 20 percent since peaking in early November.

Bloomin' Brands (up 25 percent) didn't quite keep up with the S&P 500. The stock price got a boost in the summer when activist hedge fund Jana Partners bought more than 7.8 million shares. The price jumped again when Bloomin' Brands, the Tampa parent to several restaurant chains including Outback Steakhouse, announced it was looking to put itself up for sale.

St. Petersburg's Raymond James Financial (up 21 percent) bounced around during the year, but finished strong, which helped offset losses from a year earlier.

Tampa beverage maker and distributor Cott Corp. (broke even) had a tough go in the first half of the year after poor earnings reports. The price bounced back in the last four months.

Despite solid gains in December, Mosaic's share price (down 25 percent) continued its rough run. The fertilizer company, which officially relocated its headquarters from Minnesota to downtown Tampa in 2019, recently announced plans to decrease phosphate production in central Florida. The share price has fallen by more than half over the last five years.