Crossmark Global Holdings Inc. boosted its stake in CBS Co. (NYSE:CBS) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,372 shares of the media conglomerate’s stock after buying an additional 1,437 shares during the period. Crossmark Global Holdings Inc.’s holdings in CBS were worth $1,674,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Parsons Capital Management Inc. RI lifted its holdings in CBS by 10.5% in the fourth quarter. Parsons Capital Management Inc. RI now owns 10,544 shares of the media conglomerate’s stock worth $622,000 after buying an additional 1,005 shares during the period. Osborn Williams & Donohoe LLC lifted its holdings in CBS by 11.1% in the fourth quarter. Osborn Williams & Donohoe LLC now owns 10,986 shares of the media conglomerate’s stock worth $648,000 after buying an additional 1,095 shares during the period. FDx Advisors Inc. lifted its holdings in CBS by 3.1% in the third quarter. FDx Advisors Inc. now owns 40,738 shares of the media conglomerate’s stock worth $2,363,000 after buying an additional 1,237 shares during the period. Public Employees Retirement Association of Colorado lifted its holdings in CBS by 2.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 67,044 shares of the media conglomerate’s stock worth $3,956,000 after buying an additional 1,406 shares during the period. Finally, Bremer Trust National Association lifted its holdings in CBS by 6.4% in the third quarter. Bremer Trust National Association now owns 32,458 shares of the media conglomerate’s stock worth $1,883,000 after buying an additional 1,947 shares during the period. Institutional investors and hedge funds own 75.31% of the company’s stock.
In related news, Director Arnold Kopelson sold 5,093 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $59.51, for a total value of $303,084.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Joseph R. Ianniello sold 2,400 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $60.13, for a total transaction of $144,312.00. Following the completion of the transaction, the chief operating officer now owns 320,723 shares of the company’s stock, valued at $19,285,073.99. The disclosure for this sale can be found here. Insiders have sold 226,377 shares of company stock valued at $13,319,103 over the last quarter. Company insiders own 2.03% of the company’s stock.
Several brokerages have commented on CBS. Wells Fargo & Co lowered shares of CBS from an “outperform” rating to a “market perform” rating and set a $63.00 price objective for the company. in a report on Monday, January 29th. Piper Jaffray Companies set a $70.00 price objective on shares of CBS and gave the stock a “buy” rating in a report on Wednesday, January 3rd. ValuEngine lowered shares of CBS from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Macquarie lowered shares of CBS from an “outperform” rating to a “neutral” rating and set a $60.00 price objective for the company. in a report on Tuesday, January 2nd. Finally, Zacks Investment Research lowered shares of CBS from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Nine research 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 stock. The company currently has a consensus rating of “Buy” and a consensus target price of $70.91.
CBS Co. (NYSE CBS) opened at $54.67 on Wednesday. CBS Co. has a 1-year low of $50.63 and a 1-year high of $70.10. The stock has a market cap of $21,273.46, a P/E ratio of 74.89, a PEG ratio of 0.80 and a beta of 1.50. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 3.03.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.32%. CBS’s payout ratio is 98.63%.
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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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