Raymond James & Associates lowered its position in CBS Co. (NYSE:CBS) by 22.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,751 shares of the media conglomerate’s stock after selling 53,334 shares during the quarter. Raymond James & Associates’ holdings in CBS were worth $11,077,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ameriprise Financial Inc. lifted its position in shares of CBS by 2.0% in the third quarter. Ameriprise Financial Inc. now owns 427,514 shares of the media conglomerate’s stock worth $24,811,000 after buying an additional 8,181 shares during the last quarter. FNY Managed Accounts LLC acquired a new stake in shares of CBS in the third quarter worth about $2,031,000. Twin Capital Management Inc. acquired a new stake in shares of CBS in the third quarter worth about $5,786,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of CBS by 0.4% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 751,312 shares of the media conglomerate’s stock worth $43,576,000 after buying an additional 2,978 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its position in shares of CBS by 218.4% in the third quarter. Moneta Group Investment Advisors LLC now owns 71,319 shares of the media conglomerate’s stock worth $4,137,000 after buying an additional 48,919 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.
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 $18,856.56, a P/E ratio of 11.35, a price-to-earnings-growth ratio of 0.71 and a beta of 1.51. CBS Co. has a twelve month low of $49.24 and a twelve month high of $70.10.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders 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 yield of 1.46%. CBS’s dividend payout ratio (DPR) is 80.90%.
A number of analysts have weighed in on the company. Wells Fargo cut CBS from an “outperform” rating to a “market perform” rating and set a $63.00 price target for the company. in a research report on Monday, January 29th. Piper Jaffray Companies set a $70.00 price target on CBS and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Zacks Investment Research cut CBS from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Macquarie cut CBS from an “outperform” rating to a “neutral” rating and set a $60.00 price target for the company. in a research report on Tuesday, January 2nd. Finally, ValuEngine cut CBS from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Nine equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $70.71.
In other CBS news, COO Joseph R. Ianniello sold 2,263 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $60.00, for a total value of $135,780.00. Following the completion of the transaction, the chief operating officer now owns 551,494 shares of the company’s stock, valued at approximately $33,089,640. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Leslie Moonves sold 85,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 915,531 shares of the company’s stock, valued at approximately $46,197,694.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 306,284 shares of company stock valued at $17,069,668. Insiders own 1.67% of the company’s stock.
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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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