CBS Co. (CBS) is Focused Investors LLC’s 6th Largest Position

Focused Investors LLC lessened its holdings in CBS Co. (NYSE:CBS) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,487,600 shares of the media conglomerate’s stock after selling 10,700 shares during the period. CBS comprises approximately 5.6% of Focused Investors LLC’s holdings, making the stock its 6th biggest position. Focused Investors LLC owned approximately 0.66% of CBS worth $142,913,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Sound Shore Management Inc. CT lifted its stake in shares of CBS by 1.8% in the 2nd quarter. Sound Shore Management Inc. CT now owns 3,572,553 shares of the media conglomerate’s stock worth $200,849,000 after purchasing an additional 62,318 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in CBS by 3.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,083,439 shares of the media conglomerate’s stock worth $60,911,000 after acquiring an additional 33,347 shares during the period. Guggenheim Capital LLC raised its stake in CBS by 13.3% during the 1st quarter. Guggenheim Capital LLC now owns 696,335 shares of the media conglomerate’s stock worth $35,785,000 after acquiring an additional 81,613 shares during the period. Rhumbline Advisers raised its stake in CBS by 8.3% during the 2nd quarter. Rhumbline Advisers now owns 632,309 shares of the media conglomerate’s stock worth $35,548,000 after acquiring an additional 48,680 shares during the period. Finally, Bank of Montreal Can raised its stake in CBS by 9.6% during the 3rd quarter. Bank of Montreal Can now owns 577,106 shares of the media conglomerate’s stock worth $33,155,000 after acquiring an additional 50,495 shares during the period. Hedge funds and other institutional investors own 74.88% of the company’s stock.

In related news, EVP Anthony G. Ambrosio sold 3,449 shares of the firm’s stock in a transaction on Tuesday, October 9th. The shares were sold at an average price of $57.67, for a total value of $198,903.83. Following the completion of the transaction, the executive vice president now directly owns 72,702 shares of the company’s stock, valued at $4,192,724.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Anthony G. Ambrosio sold 2,100 shares of the firm’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $55.16, for a total transaction of $115,836.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,925 shares of company stock valued at $1,882,469. Insiders own 1.80% of the company’s stock.

CBS traded up $1.14 during trading on Friday, reaching $57.31. 135,927 shares of the company traded hands, compared to its average volume of 3,639,339. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.60 and a quick ratio of 1.10. CBS Co. has a 12-month low of $47.54 and a 12-month high of $61.59. The firm has a market cap of $21.01 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 0.70 and a beta of 1.36.

CBS (NYSE:CBS) last announced its quarterly earnings data on Thursday, August 2nd. The media conglomerate reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. CBS had a net margin of 10.21% and a return on equity of 81.10%. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the firm posted $1.04 EPS. The company’s revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts anticipate that CBS Co. will post 5.24 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Monday, September 10th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Friday, September 7th. CBS’s dividend payout ratio (DPR) is currently 17.18%.

A number of equities research analysts have commented on CBS shares. Imperial Capital started coverage on shares of CBS in a research note on Thursday, June 28th. They set an “outperform” rating and a $71.00 target price on the stock. TheStreet upgraded shares of CBS from a “c+” rating to a “b-” rating in a research note on Wednesday, June 27th. Credit Suisse Group started coverage on shares of CBS in a research note on Tuesday, July 10th. They set an “overweight” rating and a $66.00 target price on the stock. ValuEngine cut shares of CBS from a “sell” rating to a “strong sell” rating in a research note on Monday, July 30th. Finally, Cowen cut shares of CBS from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. CBS presently has a consensus rating of “Buy” and an average target price of $66.22.

CBS Company Profile

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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Institutional Ownership by Quarter for CBS (NYSE:CBS)

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