Cambria Investment Management L.P. Sells 786 Shares of CBS Co. (CBS)

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Cambria Investment Management L.P. cut its holdings in CBS Co. (NYSE:CBS) by 4.7% in the 1st quarter, Holdings Channel reports. The firm owned 15,982 shares of the media conglomerate’s stock after selling 786 shares during the period. Cambria Investment Management L.P.’s holdings in CBS were worth $760,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Horan Capital Advisors LLC. bought a new position in shares of CBS during the first quarter valued at about $26,000. Lindbrook Capital LLC bought a new position in shares of CBS during the fourth quarter valued at about $28,000. Princeton Global Asset Management LLC bought a new position in shares of CBS during the fourth quarter valued at about $28,000. Trust Co. of Vermont raised its stake in shares of CBS by 64.6% during the fourth quarter. Trust Co. of Vermont now owns 1,098 shares of the media conglomerate’s stock valued at $48,000 after acquiring an additional 431 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of CBS during the first quarter valued at about $53,000. 75.43% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Jonathan Anschell sold 20,730 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $50.11, for a total value of $1,038,780.30. Following the completion of the transaction, the executive vice president now directly owns 23,358 shares of the company’s stock, valued at $1,170,469.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.56% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on CBS shares. Atlantic Securities downgraded shares of CBS from an “overweight” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research note on Monday, February 11th. Loop Capital upped their price objective on shares of CBS to $65.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $63.00 price objective on shares of CBS in a research note on Tuesday, February 5th. Barrington Research reaffirmed a “buy” rating and set a $72.00 price objective on shares of CBS in a research note on Tuesday, February 19th. Finally, Benchmark lowered their price objective on shares of CBS from $90.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, February 13th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. CBS presently has an average rating of “Buy” and a consensus target price of $62.93.

CBS stock opened at $47.91 on Friday. CBS Co. has a 1 year low of $41.38 and a 1 year high of $59.59. The stock has a market capitalization of $17.86 billion, a P/E ratio of 9.23, a P/E/G ratio of 0.71 and a beta of 1.26. The company has a quick ratio of 1.16, a current ratio of 1.50 and a debt-to-equity ratio of 2.35.

CBS (NYSE:CBS) last released its quarterly earnings results on Thursday, May 2nd. The media conglomerate reported $1.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.01). CBS had a return on equity of 66.79% and a net margin of 20.32%. The company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the previous year, the company earned $1.34 earnings per share. CBS’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities analysts anticipate that CBS Co. will post 5.62 earnings per share for the current fiscal year.

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About CBS

CBS Corporation operates as a mass media company worldwide. The company operates in 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 theatrical films; and digital streaming services.

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Institutional Ownership by Quarter for CBS (NYSE:CBS)

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