Leslie Moonves Sells 85,000 Shares of CBS Co. (CBS) Stock

CBS Co. (NYSE:CBS) CEO Leslie Moonves sold 85,000 shares of the company’s stock in a transaction dated Tuesday, March 20th. The shares were sold at an average price of $50.46, for a total value of $4,289,100.00. Following the completion of the sale, the chief executive officer now directly owns 915,531 shares of the company’s stock, valued at $46,197,694.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Leslie Moonves also recently made the following trade(s):

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  • On Tuesday, February 27th, Leslie Moonves sold 85,000 shares of CBS stock. The shares were sold at an average price of $55.08, for a total value of $4,681,800.00.
  • On Wednesday, January 17th, Leslie Moonves sold 85,000 shares of CBS stock. The shares were sold at an average price of $59.07, for a total value of $5,020,950.00.

Shares of CBS stock opened at $49.27 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.58 and a debt-to-equity ratio of 4.78. The company has a market capitalization of $19,468.91, a P/E ratio of 55.36, a PEG ratio of 0.74 and a beta of 1.51. CBS Co. has a 1-year low of $49.24 and a 1-year high of $70.10.

CBS (NYSE:CBS) last posted its quarterly earnings results on Thursday, February 15th. The media conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.71 billion. CBS had a return on equity of 67.23% and a net margin of 2.61%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $1.11 EPS. sell-side analysts anticipate that CBS Co. will post 5.21 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.46%. CBS’s dividend payout ratio is currently 80.90%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Xact Kapitalforvaltning AB increased its stake in CBS by 3.2% in the 4th quarter. Xact Kapitalforvaltning AB now owns 65,958 shares of the media conglomerate’s stock valued at $3,892,000 after purchasing an additional 2,041 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in CBS by 8.6% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 158,949 shares of the media conglomerate’s stock valued at $9,378,000 after purchasing an additional 12,636 shares in the last quarter. Letko Brosseau & Associates Inc. purchased a new position in CBS in the 4th quarter valued at approximately $21,923,000. We Are One Seven LLC purchased a new position in CBS in the 4th quarter valued at approximately $137,000. Finally, Banco de Sabadell S.A purchased a new position in CBS in the 4th quarter valued at approximately $937,000. 77.89% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently issued reports on the company. Pivotal Research reissued a “hold” rating and issued a $64.00 target price on shares of CBS in a research report on Friday, February 16th. Stephens cut CBS from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $72.00 to $64.00 in a research report on Monday, January 22nd. Piper Jaffray Companies set a $70.00 price objective on CBS and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. ValuEngine cut CBS from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Wells Fargo reaffirmed an “outperform” rating and set a $70.00 price objective (down from $75.00) on shares of CBS in a research report on Thursday, January 4th. Nine analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $70.71.

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About CBS

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.

Insider Buying and Selling by Quarter for CBS (NYSE:CBS)

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