Rockefeller Capital Management L.P. Boosts Stake in CBS Co. (NYSE:CBS)

Rockefeller Capital Management L.P. lifted its holdings in CBS Co. (NYSE:CBS) by 1,322.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,474 shares of the media conglomerate’s stock after purchasing an additional 6,019 shares during the period. Rockefeller Capital Management L.P.’s holdings in CBS were worth $308,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CBS. Campbell Newman Asset Management Inc. grew its holdings in shares of CBS by 4.0% in the first quarter. Campbell Newman Asset Management Inc. now owns 5,186 shares of the media conglomerate’s stock valued at $246,000 after purchasing an additional 198 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of CBS by 2.3% during the 1st quarter. Stratos Wealth Partners LTD. now owns 10,074 shares of the media conglomerate’s stock worth $479,000 after buying an additional 228 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of 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 buying an additional 307 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of CBS by 0.7% during the 4th quarter. Nuveen Asset Management LLC now owns 54,028 shares of the media conglomerate’s stock worth $2,362,000 after buying an additional 350 shares during the last quarter. Finally, MML Investors Services LLC raised its position in CBS by 5.0% in the 1st quarter. MML Investors Services LLC now owns 7,510 shares of the media conglomerate’s stock valued at $357,000 after purchasing an additional 355 shares during the last quarter. 73.24% of the stock is currently owned by institutional investors.

Shares of CBS stock traded up $0.23 during trading on Wednesday, hitting $48.31. 13,529 shares of the stock traded hands, compared to its average volume of 2,752,685. The firm has a market cap of $18.15 billion, a price-to-earnings ratio of 9.33, a P/E/G ratio of 0.70 and a beta of 1.22. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.50 and a quick ratio of 1.16. CBS Co. has a twelve month low of $41.38 and a twelve month high of $59.59.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 10th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Friday, June 7th. CBS’s dividend payout ratio (DPR) is 13.87%.

Several equities analysts have issued reports on the stock. Loop Capital boosted their price objective on shares of CBS to $65.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Barrington Research reissued a “buy” rating and issued a $72.00 price objective on shares of CBS in a research note on Tuesday, February 19th. Benchmark lowered their price objective on shares of CBS from $90.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, February 13th. Imperial Capital restated an “outperform” rating and issued a $72.00 target price (down from $75.00) on shares of CBS in a report on Tuesday, February 19th. Finally, TheStreet upgraded shares of CBS from a “c+” rating to a “b-” rating in a report on Tuesday, April 30th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. CBS presently has a consensus rating of “Buy” and an average target price of $62.93.

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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.

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Institutional Ownership by Quarter for CBS (NYSE:CBS)

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