Becker Capital Management Inc. boosted its position in CBS Co. (NYSE:CBS) by 1.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 440,400 shares of the media conglomerate’s stock after purchasing an additional 6,650 shares during the period. Becker Capital Management Inc.’s holdings in CBS were worth $25,301,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Squar Milner Financial Services LLC acquired a new stake in CBS in the second quarter worth approximately $122,000. Capital Advisors Ltd. LLC lifted its position in CBS by 3,620.8% in the third quarter. Capital Advisors Ltd. LLC now owns 2,679 shares of the media conglomerate’s stock worth $154,000 after purchasing an additional 2,607 shares during the period. Atria Investments LLC acquired a new stake in CBS in the third quarter worth approximately $202,000. Greenleaf Trust acquired a new stake in CBS in the second quarter worth approximately $240,000. Finally, Lourd Capital LLC acquired a new stake in CBS in the third quarter worth approximately $245,000. Hedge funds and other institutional investors own 74.82% of the company’s stock.
NYSE CBS opened at $57.79 on Wednesday. The firm has a market capitalization of $21.12 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 0.71 and a beta of 1.19. CBS Co. has a 1 year low of $47.54 and a 1 year high of $61.59. The company has a current ratio of 1.51, a quick ratio of 1.05 and a debt-to-equity ratio of 3.76.
CBS (NYSE:CBS) last announced its earnings results on Thursday, November 1st. The media conglomerate reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.02. CBS had a net margin of 9.42% and a return on equity of 86.51%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the previous year, the business earned $1.11 EPS. The company’s revenue was up 2.9% on a year-over-year basis. As a group, analysts anticipate that CBS Co. will post 5.25 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Tuesday, December 11th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Monday, December 10th. CBS’s dividend payout ratio (DPR) is currently 17.18%.
In other CBS news, EVP Anthony G. Ambrosio sold 11,697 shares of the business’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $57.53, for a total transaction of $672,928.41. Following the sale, the executive vice president now directly owns 80,950 shares of the company’s stock, valued at approximately $4,657,053.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Anthony G. Ambrosio sold 2,100 shares of the business’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 three months, insiders have sold 19,480 shares of company stock worth $1,117,598. Company insiders own 1.80% of the company’s stock.
CBS has been the subject of a number of research analyst reports. Credit Suisse Group initiated coverage on CBS in a research report on Tuesday, July 10th. They issued an “overweight” rating and a $66.00 target price for the company. ValuEngine downgraded CBS from a “sell” rating to a “strong sell” rating in a research report on Monday, July 30th. Cowen cut CBS from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 31st. Pivotal Research reaffirmed a “hold” rating and issued a $53.00 price target on shares of CBS in a report on Tuesday, July 31st. Finally, Royal Bank of Canada set a $63.00 price target on CBS and gave the company a “buy” rating in a report on Friday, August 3rd. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $66.51.
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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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