Nomura Asset Management Co. Ltd. lessened its holdings in shares of CBS Co. (NYSE:CBS) by 25.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,342 shares of the media conglomerate’s stock after selling 16,761 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in CBS were worth $2,911,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Rhumbline Advisers grew its holdings in CBS by 0.8% during the 3rd quarter. Rhumbline Advisers now owns 607,968 shares of the media conglomerate’s stock valued at $35,262,000 after buying an additional 4,584 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in CBS by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,147,664 shares of the media conglomerate’s stock valued at $66,565,000 after buying an additional 10,212 shares in the last quarter. Quantbot Technologies LP purchased a new position in CBS during the 3rd quarter valued at approximately $4,254,000. Thompson Investment Management Inc. grew its holdings in CBS by 2.2% during the 3rd quarter. Thompson Investment Management Inc. now owns 91,248 shares of the media conglomerate’s stock valued at $5,292,000 after buying an additional 1,974 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in CBS by 3.7% during the 3rd quarter. SG Americas Securities LLC now owns 55,481 shares of the media conglomerate’s stock valued at $3,218,000 after buying an additional 1,983 shares in the last quarter. 77.95% of the stock is currently owned by institutional investors.
CBS opened at $52.84 on Friday. CBS Co. has a 52-week low of $49.24 and a 52-week high of $69.31. The company has a debt-to-equity ratio of 4.78, a current ratio of 1.58 and a quick ratio of 1.12. The firm has a market cap of $20,586.46, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 0.78 and a beta of 1.47.
CBS (NYSE:CBS) last posted its quarterly earnings data on Thursday, February 15th. The media conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.06. CBS had a return on equity of 67.23% and a net margin of 2.61%. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the previous year, the business earned $1.11 EPS. CBS’s revenue was up 11.5% compared to the same quarter last year. research analysts forecast that CBS Co. will post 5.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 1st. Investors of record on Friday, March 9th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Thursday, March 8th. CBS’s payout ratio is currently 17.18%.
Several research firms have weighed in on CBS. Citigroup cut their price target on CBS from $71.00 to $61.00 and set a “buy” rating for the company in a report on Wednesday, March 28th. Loop Capital began coverage on CBS in a report on Thursday, March 15th. They set a “buy” rating and a $75.00 price target for the company. BMO Capital Markets cut their price target on CBS from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Royal Bank of Canada set a $71.00 target price on CBS and gave the stock a “buy” rating in a report on Saturday, February 17th. Finally, TheStreet cut CBS from a “b” rating to a “c” rating in a report on Thursday, February 15th. Nine analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $69.95.
In other CBS news, COO Joseph R. Ianniello sold 2,400 shares of CBS stock in a transaction 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 sale, the chief operating officer now directly owns 320,723 shares of the company’s stock, valued at approximately $19,285,073.99. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Leslie Moonves sold 85,000 shares of CBS stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $50.46, for a total value of $4,289,100.00. Following the sale, the chief executive officer now directly owns 915,531 shares of the company’s stock, valued at $46,197,694.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 306,284 shares of company stock valued at $17,069,668. 1.67% of the stock is owned by company insiders.
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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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