Shikiar Asset Management Inc. reduced its holdings in CBS Co. Common Stock (NYSE:CBS) by 46.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,775 shares of the media conglomerate’s stock after selling 30,095 shares during the period. Shikiar Asset Management Inc.’s holdings in CBS Co. Common Stock were worth $1,955,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in CBS. Markston International LLC purchased a new stake in shares of CBS Co. Common Stock in the 1st quarter valued at $100,000. Private Capital Group LLC boosted its holdings in shares of CBS Co. Common Stock by 430.9% in the 1st quarter. Private Capital Group LLC now owns 2,076 shares of the media conglomerate’s stock valued at $107,000 after acquiring an additional 1,685 shares during the last quarter. Squar Milner Financial Services LLC purchased a new stake in shares of CBS Co. Common Stock in the 2nd quarter valued at $122,000. Westbourne Investment Advisors Inc. purchased a new stake in shares of CBS Co. Common Stock in the 1st quarter valued at $250,000. Finally, Mathes Company Inc. purchased a new stake in shares of CBS Co. Common Stock in the 2nd quarter valued at $250,000. 74.60% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the stock. TheStreet upgraded shares of CBS Co. Common Stock from a “c+” rating to a “b-” rating in a research note on Wednesday, June 27th. Imperial Capital assumed coverage on shares of CBS Co. Common Stock in a research note on Thursday, June 28th. They issued an “outperform” rating and a $71.00 target price for the company. Argus reiterated a “positive” rating and issued a $79.00 target price on shares of CBS Co. Common Stock in a research note on Tuesday, May 8th. Barrington Research reiterated a “buy” rating and issued a $73.00 target price on shares of CBS Co. Common Stock in a research note on Monday, May 7th. Finally, Bank of America cut shares of CBS Co. Common Stock from a “buy” rating to a “neutral” rating and set a $58.00 target price for the company. in a research note on Thursday, May 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $68.41.
CBS Co. Common Stock opened at $54.01 on Monday, Marketbeat.com reports. The company has a quick ratio of 1.13, a current ratio of 1.52 and a debt-to-equity ratio of 4.78. The firm has a market cap of $20.47 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 0.71 and a beta of 1.47. CBS Co. Common Stock has a fifty-two week low of $47.54 and a fifty-two week high of $67.63.
CBS Co. Common Stock (NYSE:CBS) last posted its quarterly earnings data on Thursday, May 3rd. The media conglomerate reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.15. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.65 billion. CBS Co. Common Stock had a net margin of 7.94% and a return on equity of 77.15%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.04 earnings per share. equities research analysts predict that CBS Co. Common Stock will post 5.26 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, July 1st. Shareholders of record on Friday, June 8th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Thursday, June 7th. CBS Co. Common Stock’s dividend payout ratio is presently 17.18%.
In other news, EVP Gil D. Schwartz sold 160,709 shares of the stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $55.08, for a total value of $8,851,851.72. Following the completion of the sale, the executive vice president now directly owns 110,252 shares in the company, valued at $6,072,680.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Anschell sold 10,000 shares of the stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $51.05, for a total transaction of $510,500.00. The disclosure for this sale can be found here. Insiders have sold 327,067 shares of company stock valued at $17,823,897 over the last 90 days. 1.80% of the stock is currently owned by company insiders.
CBS Co. Common Stock Profile
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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