Stoneridge Investment Partners LLC acquired a new stake in CBS Co. (NYSE:CBS) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 26,387 shares of the media conglomerate’s stock, valued at approximately $1,154,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CBS. Heritage Trust Co boosted its position in shares of CBS by 2.7% in the 4th quarter. Heritage Trust Co now owns 10,378 shares of the media conglomerate’s stock valued at $454,000 after purchasing an additional 275 shares during the period. Regent Investment Management LLC lifted its position in CBS by 2.1% during the 4th quarter. Regent Investment Management LLC now owns 14,437 shares of the media conglomerate’s stock worth $631,000 after acquiring an additional 300 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in CBS by 21.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,750 shares of the media conglomerate’s stock worth $77,000 after acquiring an additional 307 shares during the period. Trust Co. of Vermont lifted its position in CBS by 64.6% during the 4th quarter. Trust Co. of Vermont now owns 1,098 shares of the media conglomerate’s stock worth $48,000 after acquiring an additional 431 shares during the period. Finally, Sumitomo Life Insurance Co. lifted its position in CBS by 2.1% during the 4th quarter. Sumitomo Life Insurance Co. now owns 30,964 shares of the media conglomerate’s stock worth $1,354,000 after acquiring an additional 639 shares during the period. Institutional investors and hedge funds own 75.25% of the company’s stock.
A number of analysts have weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $90.00 price objective on shares of CBS in a research report on Friday, November 2nd. Royal Bank of Canada increased their price objective on CBS to $70.00 and gave the stock a “positive” rating in a research report on Friday, November 2nd. They noted that the move was a valuation call. Imperial Capital reaffirmed a “buy” rating on shares of CBS in a research report on Monday, November 5th. Goldman Sachs Group assumed coverage on CBS in a research report on Thursday, November 29th. They set a “neutral” rating and a $59.00 price objective for the company. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 price objective on shares of CBS in a research report on Monday, October 15th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $65.38.
CBS opened at $48.09 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.51 and a debt-to-equity ratio of 3.76. The company has a market capitalization of $18.00 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 0.59 and a beta of 1.32. CBS Co. has a 12 month low of $41.38 and a 12 month high of $59.59.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be issued a $0.18 dividend. The ex-dividend date is Friday, March 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.50%. CBS’s dividend payout ratio is currently 17.18%.
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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.
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