Baltimore Capital Management Inc. boosted its stake in shares of CBS Co. (NYSE:CBS) by 8.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,850 shares of the media conglomerate’s stock after acquiring an additional 1,550 shares during the quarter. CBS comprises 1.6% of Baltimore Capital Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Baltimore Capital Management Inc.’s holdings in CBS were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of CBS. State of New Jersey Common Pension Fund D lifted its position in CBS by 143.8% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 2,100,000 shares of the media conglomerate’s stock worth $107,919,000 after acquiring an additional 1,238,670 shares during the period. Newport Trust Co acquired a new stake in CBS during the 1st quarter worth approximately $59,880,000. Focused Investors LLC lifted its position in CBS by 57.9% during the 4th quarter. Focused Investors LLC now owns 2,565,400 shares of the media conglomerate’s stock worth $151,359,000 after acquiring an additional 940,500 shares during the period. Victory Capital Management Inc. lifted its position in CBS by 26.3% during the 4th quarter. Victory Capital Management Inc. now owns 3,577,959 shares of the media conglomerate’s stock worth $211,100,000 after acquiring an additional 744,366 shares during the period. Finally, Letko Brosseau & Associates Inc. lifted its position in CBS by 170.0% during the 1st quarter. Letko Brosseau & Associates Inc. now owns 1,003,245 shares of the media conglomerate’s stock worth $51,557,000 after acquiring an additional 631,665 shares during the period. 77.91% of the stock is owned by institutional investors.
In related news, CEO Leslie Moonves sold 85,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 20th. The stock was sold at an average price of $50.46, for a total value of $4,289,100.00. Following the completion of the transaction, the chief executive officer now directly owns 915,531 shares of the company’s stock, valued at approximately $46,197,694.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 330,000 shares of company stock valued at $17,174,900 over the last ninety days. 1.80% of the stock is currently owned by company insiders.
A number of analysts have weighed in on CBS shares. Royal Bank of Canada set a $71.00 price objective on CBS and gave the stock a “buy” rating in a research report on Saturday, February 17th. Citigroup decreased their price objective on CBS from $71.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, March 28th. Loop Capital started coverage on CBS in a research report on Thursday, March 15th. They set a “buy” rating and a $75.00 price objective for the company. Benchmark reaffirmed a “buy” rating on shares of CBS in a research report on Friday, February 16th. Finally, B. Riley cut their target price on CBS from $84.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $68.47.
NYSE CBS opened at $51.75 on Monday. CBS Co. has a 1-year low of $47.54 and a 1-year high of $68.75. The company has a market capitalization of $19.61 billion, a P/E ratio of 12.35, a PEG ratio of 0.70 and a beta of 1.49. The company has a quick ratio of 1.13, a current ratio of 1.52 and a debt-to-equity ratio of 4.78.
CBS (NYSE:CBS) last released its quarterly earnings data on Thursday, May 3rd. The media conglomerate reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.15. CBS had a return on equity of 77.15% and a net margin of 7.94%. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the business posted $1.04 EPS. CBS’s quarterly revenue was up 12.5% on a year-over-year basis. equities research analysts expect that CBS Co. will post 5.24 EPS for the current fiscal year.
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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