Systematic Financial Management LP boosted its position in shares of CBS Corporation (NYSE:CBS) by 20.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 268,278 shares of the media conglomerate’s stock after buying an additional 44,841 shares during the quarter. Systematic Financial Management LP owned approximately 0.07% of CBS worth $15,560,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. LS Investment Advisors LLC lifted its stake in shares of CBS by 40.8% in the second quarter. LS Investment Advisors LLC now owns 10,162 shares of the media conglomerate’s stock worth $648,000 after buying an additional 2,943 shares in the last quarter. PGGM Investments purchased a new position in shares of CBS in the second quarter worth about $15,659,000. Russell Investments Group Ltd. lifted its stake in shares of CBS by 19.8% in the second quarter. Russell Investments Group Ltd. now owns 433,445 shares of the media conglomerate’s stock worth $27,646,000 after buying an additional 71,519 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of CBS by 38.6% in the second quarter. Janney Montgomery Scott LLC now owns 42,267 shares of the media conglomerate’s stock worth $2,696,000 after buying an additional 11,777 shares in the last quarter. Finally, Sequent Asset Management LLC lifted its stake in shares of CBS by 3.0% in the second quarter. Sequent Asset Management LLC now owns 9,300 shares of the media conglomerate’s stock worth $593,000 after buying an additional 275 shares in the last quarter. 74.83% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Gil D. Schwartz sold 54,131 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $58.40, for a total value of $3,161,250.40. Following the completion of the sale, the executive vice president now owns 102,483 shares in the company, valued at approximately $5,985,007.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce S. Gordon sold 5,093 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $55.50, for a total transaction of $282,661.50. The disclosure for this sale can be found here. Insiders have sold a total of 369,410 shares of company stock valued at $21,537,978 in the last 90 days. Insiders own 1.67% of the company’s stock.
Several research firms have recently weighed in on CBS. Barclays set a $57.00 price target on shares of CBS and gave the stock a “hold” rating in a research note on Friday, August 11th. Argus reaffirmed a “buy” rating and set a $79.00 target price (up from $71.00) on shares of CBS in a research note on Thursday, August 10th. Citigroup reaffirmed a “buy” rating and set a $76.00 target price (up from $75.00) on shares of CBS in a research note on Wednesday, August 23rd. Jefferies Group reaffirmed a “buy” rating and set a $73.00 target price (up from $71.00) on shares of CBS in a research note on Wednesday, August 9th. Finally, Loop Capital reaffirmed a “buy” rating and set a $78.00 target price on shares of CBS in a research note on Sunday, August 20th. Six analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. CBS currently has an average rating of “Buy” and a consensus target price of $73.13.
Shares of CBS Corporation (NYSE CBS) traded down $0.23 during trading on Thursday, reaching $57.20. 2,963,710 shares of the company were exchanged, compared to its average volume of 4,174,817. The stock has a market capitalization of $23,250.34, a P/E ratio of 13.51, a P/E/G ratio of 1.05 and a beta of 1.62. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 3.03. CBS Corporation has a one year low of $52.75 and a one year high of $70.10.
CBS (NYSE:CBS) last issued its quarterly earnings data on Thursday, November 2nd. The media conglomerate reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.04. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.26 billion. CBS had a net margin of 2.14% and a return on equity of 58.49%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 EPS. analysts predict that CBS Corporation will post 4.39 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Monday, December 11th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, December 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.26%. CBS’s dividend payout ratio is presently 98.63%.
CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.
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