Loomis Sayles & Co. L P Has $40.32 Million Stock Holdings in Paramount Global (NASDAQ:PARA)

Loomis Sayles & Co. L P decreased its position in Paramount Global (NASDAQ:PARA) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,854,751 shares of the company’s stock after selling 109,465 shares during the period. Loomis Sayles & Co. L P owned about 0.58% of Paramount Global worth $40,321,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Paramount Global by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company’s stock valued at $80,993,000 after purchasing an additional 348,298 shares in the last quarter. Bridgewater Associates LP raised its stake in shares of Paramount Global by 50.7% in the 3rd quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock valued at $3,484,000 after buying an additional 110,357 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Paramount Global by 824.1% during the 3rd quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock worth $2,029,000 after acquiring an additional 174,514 shares during the period. Wilsey Asset Management Inc. lifted its holdings in shares of Paramount Global by 16.2% during the 4th quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock worth $19,898,000 after acquiring an additional 265,408 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Paramount Global by 24.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock valued at $47,973,000 after acquiring an additional 908,515 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley raised their price target on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reiterated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. StockNews.com initiated coverage on shares of Paramount Global in a research note on Saturday, March 22nd. They issued a “hold” rating on the stock. Finally, Guggenheim reiterated a “buy” rating and set a $14.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Paramount Global presently has an average rating of “Hold” and an average price target of $12.10.

Paramount Global Stock Performance

PARA stock opened at $11.68 on Friday. The company has a 50 day moving average price of $11.25 and a 200 day moving average price of $10.87. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market capitalization of $7.79 billion, a PE ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.29). The firm had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Analysts forecast that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is -2.15%.

Paramount Global Profile

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.