LSV Asset Management grew its holdings in shares of CBS Corporation (NYSE:CBS) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 356,700 shares of the media conglomerate’s stock after purchasing an additional 12,000 shares during the period. LSV Asset Management owned approximately 0.09% of CBS Corporation worth $22,750,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CBS. First Trust Advisors LP increased its position in CBS Corporation by 8.5% during the 1st quarter. First Trust Advisors LP now owns 147,177 shares of the media conglomerate’s stock worth $10,208,000 after purchasing an additional 11,578 shares during the period. World Asset Management Inc increased its position in CBS Corporation by 12.2% during the 1st quarter. World Asset Management Inc now owns 43,424 shares of the media conglomerate’s stock worth $3,012,000 after purchasing an additional 4,733 shares during the period. Meadow Creek Investment Management LLC increased its position in CBS Corporation by 1.5% during the 1st quarter. Meadow Creek Investment Management LLC now owns 86,020 shares of the media conglomerate’s stock worth $5,966,000 after purchasing an additional 1,292 shares during the period. Camarda Financial Advisors LLC increased its position in CBS Corporation by 5.9% during the 1st quarter. Camarda Financial Advisors LLC now owns 25,820 shares of the media conglomerate’s stock worth $1,791,000 after purchasing an additional 1,430 shares during the period. Finally, Karp Capital Management Corp acquired a new position in CBS Corporation during the 1st quarter worth approximately $13,654,000. Institutional investors own 75.09% of the company’s stock.
Shares of CBS Corporation (NYSE CBS) opened at 58.82 on Wednesday. The stock’s 50 day moving average price is $64.69 and its 200-day moving average price is $64.82. CBS Corporation has a 12-month low of $48.88 and a 12-month high of $70.10. The firm has a market capitalization of $23.63 billion, a P/E ratio of 149.67 and a beta of 1.70.
CBS Corporation (NYSE:CBS) last issued its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.09 billion. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $0.93 EPS. On average, equities analysts expect that CBS Corporation will post $4.46 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, September 7th. CBS Corporation’s dividend payout ratio (DPR) is currently 211.76%.
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CBS has been the topic of several recent analyst reports. ValuEngine cut CBS Corporation from a “buy” rating to a “hold” rating in a research report on Monday. BidaskClub raised CBS Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Citigroup Inc. reissued a “buy” rating and set a $76.00 price target (up previously from $75.00) on shares of CBS Corporation in a research note on Wednesday, August 23rd. Benchmark Co. boosted their price target on CBS Corporation from $76.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Finally, Guggenheim reissued a “buy” rating and set a $78.00 price target on shares of CBS Corporation in a research note on Tuesday, June 13th. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $73.44.
In other CBS Corporation news, CEO Leslie Moonves sold 200,000 shares of CBS Corporation stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $63.79, for a total transaction of $12,758,000.00. Following the completion of the sale, the chief executive officer now owns 1,232,652 shares of the company’s stock, valued at approximately $78,630,871.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gil D. Schwartz sold 5,270 shares of CBS Corporation stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $64.08, for a total transaction of $337,701.60. Following the sale, the executive vice president now directly owns 60,322 shares of the company’s stock, valued at approximately $3,865,433.76. The disclosure for this sale can be found here. Insiders have sold a total of 376,874 shares of company stock valued at $24,201,946 in the last three months. Company insiders own 2.03% of the company’s stock.
CBS Corporation Profile
CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.
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