United Services Automobile Association cut its holdings in CBS Co. (NYSE:CBS) by 43.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 198,066 shares of the media conglomerate’s stock after selling 150,082 shares during the quarter. United Services Automobile Association’s holdings in CBS were worth $11,135,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Private Capital Group LLC increased its position in shares of CBS by 430.9% during the first quarter. Private Capital Group LLC now owns 2,076 shares of the media conglomerate’s stock worth $107,000 after purchasing an additional 1,685 shares in the last quarter. Squar Milner Financial Services LLC purchased a new stake in shares of CBS during the second quarter worth approximately $122,000. Greenleaf Trust purchased a new stake in shares of CBS during the second quarter worth approximately $240,000. Mathes Company Inc. purchased a new stake in shares of CBS during the second quarter worth approximately $250,000. Finally, Dupont Capital Management Corp increased its position in shares of CBS by 101.9% during the second quarter. Dupont Capital Management Corp now owns 5,190 shares of the media conglomerate’s stock worth $292,000 after purchasing an additional 2,620 shares in the last quarter. Institutional investors and hedge funds own 74.89% of the company’s stock.
In other news, EVP Anthony G. Ambrosio sold 2,100 shares of the company’s stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $55.16, for a total value of $115,836.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Anthony G. Ambrosio sold 11,697 shares of the company’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $57.53, for a total value of $672,928.41. Following the completion of the transaction, the executive vice president now directly owns 80,950 shares in the company, valued at approximately $4,657,053.50. The disclosure for this sale can be found here. Insiders have sold 29,476 shares of company stock worth $1,683,565 in the last three months. 1.80% of the stock is currently owned by corporate insiders.
Several analysts recently commented on CBS shares. Royal Bank of Canada set a $63.00 price target on CBS and gave the stock a “buy” rating in a research report on Friday, August 3rd. Argus cut CBS from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. ValuEngine cut CBS from a “sell” rating to a “strong sell” rating in a research report on Monday, July 30th. UBS Group cut CBS from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $72.00 to $60.00 in a research report on Monday, September 10th. Finally, Barrington Research reiterated a “buy” rating and set a $73.00 price target on shares of CBS in a research report on Monday, September 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $65.86.
NYSE CBS opened at $55.32 on Monday. The firm has a market cap of $21.60 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 0.72 and a beta of 1.36. The company has a current ratio of 1.60, a quick ratio of 1.10 and a debt-to-equity ratio of 4.37. CBS Co. has a fifty-two week low of $47.54 and a fifty-two week high of $61.59.
CBS (NYSE:CBS) last released its quarterly earnings data on Thursday, August 2nd. The media conglomerate reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.01. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.46 billion. CBS had a return on equity of 81.10% and a net margin of 10.21%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 earnings per share. Equities analysts anticipate that CBS Co. will post 5.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Monday, September 10th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Friday, September 7th. CBS’s dividend payout ratio (DPR) is currently 17.18%.
CBS Corporation operates as a mass media company worldwide. The company operates through four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces, acquires, and distributes theatrical motion pictures; and digital streaming services.
Featured Article: The Discount Rate – What You Need to Know
Want to see what other hedge funds are holding CBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBS Co. (NYSE:CBS).
Receive News & Ratings for CBS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS and related companies with MarketBeat.com's FREE daily email newsletter.