MU Investments Co. Ltd. maintained its position in CBS Corp. (NYSE:CBS) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 88,100 shares of the media conglomerate’s stock at the end of the second quarter. CBS Corp. accounts for approximately 3.1% of MU Investments Co. Ltd.’s holdings, making the stock its 9th largest position. MU Investments Co. Ltd.’s holdings in CBS Corp. were worth $4,648,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Capstone Asset Management Co. increased its position in CBS Corp. by 1.2% in the first quarter. Capstone Asset Management Co. now owns 31,107 shares of the media conglomerate’s stock worth $1,714,000 after buying an additional 380 shares in the last quarter. Sii Investments Inc. WI acquired a new position in CBS Corp. during the first quarter worth approximately $266,000. Aperio Group LLC increased its position in CBS Corp. by 22.7% in the first quarter. Aperio Group LLC now owns 213,826 shares of the media conglomerate’s stock worth $11,780,000 after buying an additional 39,523 shares in the last quarter. Nisa Investment Advisors L.L.C. increased its position in CBS Corp. by 3.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 115,407 shares of the media conglomerate’s stock worth $6,358,000 after buying an additional 3,900 shares in the last quarter. Finally, Virginia Retirement System acquired a new position in CBS Corp. during the first quarter worth approximately $387,000. Institutional investors own 76.78% of the company’s stock.
Shares of CBS Corp. (NYSE:CBS) traded up 1.80% during trading on Tuesday, hitting $52.05. 4,383,770 shares of the stock were exchanged. The stock’s 50 day moving average price is $51.80 and its 200 day moving average price is $53.72. The firm has a market capitalization of $23.14 billion, a price-to-earnings ratio of 15.40 and a beta of 1.89. CBS Corp. has a 52 week low of $38.51 and a 52 week high of $58.22.
CBS Corp. (NYSE:CBS) last announced its quarterly earnings results on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. The company had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.21 billion. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. CBS Corp.’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 EPS. On average, equities analysts predict that CBS Corp. will post $3.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Wednesday, September 7th. This is a positive change from CBS Corp.’s previous quarterly dividend of $0.15. CBS Corp.’s dividend payout ratio is 21.30%.
CBS has been the subject of a number of recent research reports. Sanford C. Bernstein restated a “market perform” rating on shares of CBS Corp. in a research note on Friday, June 17th. Wells Fargo & Co. reiterated an “outperform” rating on shares of CBS Corp. in a research note on Saturday, June 25th. Morgan Stanley reiterated an “overweight” rating on shares of CBS Corp. in a research note on Wednesday, June 29th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of CBS Corp. in a research note on Thursday, June 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $65.00 target price on shares of CBS Corp. in a research note on Saturday, July 2nd. Five analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. CBS Corp. currently has an average rating of “Buy” and a consensus price target of $61.91.
CBS Corp. Company Profile
CBS Corporation is a mass media company. The Company’s segments include Entertainment, Cable Networks, Publishing and Local Broadcasting. Its Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Interactive, and CBS Films.
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