CBS Co. (CBS) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in CBS Co. (NYSE:CBS) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 557,723 shares of the media conglomerate’s stock after selling 23,242 shares during the period. Rhumbline Advisers’ holdings in CBS were worth $26,509,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CBS. Benson Investment Management Company Inc. raised its holdings in shares of CBS by 21.1% in the first quarter. Benson Investment Management Company Inc. now owns 68,595 shares of the media conglomerate’s stock valued at $3,260,000 after purchasing an additional 11,935 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in CBS by 18.9% in the first quarter. Oppenheimer & Co. Inc. now owns 39,288 shares of the media conglomerate’s stock valued at $1,867,000 after buying an additional 6,255 shares during the last quarter. APG Asset Management N.V. grew its holdings in shares of CBS by 26.7% during the fourth quarter. APG Asset Management N.V. now owns 2,242,918 shares of the media conglomerate’s stock worth $85,781,000 after purchasing an additional 472,042 shares during the last quarter. Brandywine Global Investment Management LLC grew its holdings in shares of CBS by 29.6% during the fourth quarter. Brandywine Global Investment Management LLC now owns 323,487 shares of the media conglomerate’s stock worth $14,143,000 after purchasing an additional 73,975 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of CBS by 50.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 466,687 shares of the media conglomerate’s stock worth $20,402,000 after buying an additional 155,492 shares during the period. 75.85% of the stock is owned by institutional investors.

CBS has been the subject of a number of recent analyst reports. Loop Capital raised their price objective on shares of CBS to $65.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Moffett Nathanson upgraded shares of CBS from a “neutral” rating to a “buy” rating in a report on Thursday, January 17th. BMO Capital Markets restated a “buy” rating and set a $63.00 target price on shares of CBS in a report on Tuesday, February 5th. Benchmark reduced their target price on shares of CBS from $90.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, February 13th. Finally, Atlantic Securities lowered shares of CBS from an “overweight” rating to a “neutral” rating and set a $56.00 price objective on the stock. in a report on Monday, February 11th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $62.98.

In related news, EVP Jonathan Anschell sold 20,730 shares of the business’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $50.11, for a total transaction of $1,038,780.30. Following the transaction, the executive vice president now directly owns 23,358 shares in the company, valued at $1,170,469.38. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gary L. Countryman sold 4,584 shares of the business’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $51.35, for a total transaction of $235,388.40. Following the transaction, the director now owns 63,454 shares in the company, valued at $3,258,362.90. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

NYSE:CBS opened at $49.29 on Friday. The stock has a market cap of $18.19 billion, a PE ratio of 9.50, a price-to-earnings-growth ratio of 0.63 and a beta of 1.26. The company has a quick ratio of 1.16, a current ratio of 1.50 and a debt-to-equity ratio of 2.35. CBS Co. has a 52 week low of $41.38 and a 52 week high of $59.59.

CBS (NYSE:CBS) last posted its quarterly earnings data on Thursday, May 2nd. The media conglomerate reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.01). CBS had a net margin of 20.32% and a return on equity of 66.79%. The company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the previous year, the business posted $1.34 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts expect that CBS Co. will post 5.62 EPS for the current year.

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CBS Profile

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.

Further Reading: Oversold

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Institutional Ownership by Quarter for CBS (NYSE:CBS)

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