Neuburgh Advisers LLC decreased its stake in shares of CBS Co. (NYSE:CBS) by 10.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,160 shares of the media conglomerate’s stock after selling 928 shares during the quarter. Neuburgh Advisers LLC’s holdings in CBS were worth $357,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Capital Research Global Investors lifted its position in CBS by 31.6% during the third quarter. Capital Research Global Investors now owns 32,802,753 shares of the media conglomerate’s stock worth $1,884,518,000 after buying an additional 7,877,689 shares in the last quarter. Capital International Investors lifted its position in CBS by 77.7% during the third quarter. Capital International Investors now owns 3,988,800 shares of the media conglomerate’s stock worth $229,157,000 after buying an additional 1,744,200 shares in the last quarter. Investec Asset Management LTD lifted its position in CBS by 0.7% during the fourth quarter. Investec Asset Management LTD now owns 3,724,238 shares of the media conglomerate’s stock worth $162,824,000 after buying an additional 24,908 shares in the last quarter. Victory Capital Management Inc. lifted its position in CBS by 2.1% during the fourth quarter. Victory Capital Management Inc. now owns 3,301,372 shares of the media conglomerate’s stock worth $144,337,000 after buying an additional 67,034 shares in the last quarter. Finally, FIL Ltd lifted its position in CBS by 3.4% during the third quarter. FIL Ltd now owns 2,053,844 shares of the media conglomerate’s stock worth $117,994,000 after buying an additional 67,476 shares in the last quarter. Hedge funds and other institutional investors own 74.58% of the company’s stock.
In other news, Director Gary L. Countryman sold 4,584 shares of CBS stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $51.35, for a total value of $235,388.40. Following the completion of the sale, the director now directly owns 63,454 shares of the company’s stock, valued at $3,258,362.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan Anschell sold 20,730 shares of CBS stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $50.11, for a total value of $1,038,780.30. Following the completion of the sale, the executive vice president now directly owns 23,358 shares of the company’s stock, valued at $1,170,469.38. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.
Shares of NYSE CBS opened at $47.70 on Friday. CBS Co. has a twelve month low of $41.38 and a twelve month high of $59.59. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 3.38. The firm has a market capitalization of $17.79 billion, a PE ratio of 9.19, a PEG ratio of 0.66 and a beta of 1.26.
CBS (NYSE:CBS) last issued its quarterly earnings data on Thursday, February 14th. The media conglomerate reported $1.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.03). CBS had a net margin of 13.50% and a return on equity of 83.61%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period in the previous year, the firm posted $1.20 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, research analysts anticipate that CBS Co. will post 5.66 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be paid a $0.18 dividend. The ex-dividend date is Friday, March 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.51%. CBS’s payout ratio is presently 13.87%.
A number of equities analysts recently commented on the company. Stephens upgraded CBS from an “equal weight” rating to an “overweight” rating and set a $58.00 price objective on the stock in a research report on Wednesday, January 2nd. Barrington Research reissued a “buy” rating and set a $72.00 target price on shares of CBS in a research note on Monday, February 4th. Imperial Capital reissued an “outperform” rating and set a $72.00 target price (down previously from $75.00) on shares of CBS in a research note on Tuesday, February 19th. Wolfe Research began coverage on CBS in a research note on Friday, December 7th. They set a “market perform” rating for the company. Finally, TheStreet cut CBS from a “b-” rating to a “c+” rating in a research note on Monday, December 31st. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $64.10.
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CBS Corporation operates as a mass media company worldwide. The company operates in 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 theatrical films; and digital streaming services.
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