Bank of Montreal Can grew its position in CBS Co. (NYSE:CBS) by 22.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 593,901 shares of the media conglomerate’s stock after buying an additional 107,808 shares during the period. Bank of Montreal Can owned 0.15% of CBS worth $35,040,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Bank of Hawaii boosted its stake in CBS by 0.3% in the 2nd quarter. Bank of Hawaii now owns 18,458 shares of the media conglomerate’s stock worth $1,177,000 after purchasing an additional 50 shares in the last quarter. Thrivent Financial For Lutherans lifted its stake in CBS by 2.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 14,130 shares of the media conglomerate’s stock valued at $901,000 after acquiring an additional 370 shares during the period. Intellectus Partners LLC lifted its stake in CBS by 8.4% during the 2nd quarter. Intellectus Partners LLC now owns 6,601 shares of the media conglomerate’s stock valued at $422,000 after acquiring an additional 509 shares during the period. Green Square Capital LLC lifted its stake in CBS by 18.4% during the 2nd quarter. Green Square Capital LLC now owns 7,390 shares of the media conglomerate’s stock valued at $473,000 after acquiring an additional 1,150 shares during the period. Finally, FDx Advisors Inc. lifted its stake in CBS by 3.1% during the 3rd quarter. FDx Advisors Inc. now owns 40,738 shares of the media conglomerate’s stock valued at $2,363,000 after acquiring an additional 1,237 shares during the period. Institutional investors and hedge funds own 75.31% of the company’s stock.
CBS has been the subject of several recent research reports. Piper Jaffray Companies set a $75.00 target price on shares of CBS and gave the company a “buy” rating in a report on Monday, October 23rd. BMO Capital Markets reaffirmed a “buy” rating and set a $75.00 target price on shares of CBS in a report on Wednesday, October 18th. Cowen reissued a “buy” rating and issued a $69.00 price target on shares of CBS in a report on Friday, October 27th. Benchmark reissued a “buy” rating and issued a $80.00 price target on shares of CBS in a report on Tuesday, October 24th. Finally, B. Riley reissued a “buy” rating on shares of CBS in a report on Friday, November 3rd. Nine analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $70.91.
In other CBS news, CEO Leslie Moonves sold 85,000 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $57.85, for a total value of $4,917,250.00. Following the transaction, the chief executive officer now directly owns 884,513 shares in the company, valued at $51,169,077.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joseph R. Ianniello sold 46,621 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $60.01, for a total transaction of $2,797,726.21. Following the completion of the transaction, the chief operating officer now owns 321,463 shares in the company, valued at $19,290,994.63. The disclosure for this sale can be found here. Insiders have sold 226,377 shares of company stock worth $13,319,103 over the last 90 days. Insiders own 2.03% of the company’s stock.
CBS Co. (NYSE:CBS) traded up $1.18 during mid-day trading on Wednesday, hitting $55.85. 4,110,000 shares of the company were exchanged, compared to its average volume of 4,710,000. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.55 and a quick ratio of 1.10. CBS Co. has a 12-month low of $50.63 and a 12-month high of $70.10. The stock has a market capitalization of $22,350.00, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 0.80 and a beta of 1.50.
The company also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.29%. CBS’s payout ratio is 20.93%.
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CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.
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