Marathon Capital Management increased its stake in shares of CBS Corporation (NYSE:CBS) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,515 shares of the media conglomerate’s stock after buying an additional 1,375 shares during the quarter. CBS Corporation accounts for 1.0% of Marathon Capital Management’s investment portfolio, making the stock its 21st largest holding. Marathon Capital Management’s holdings in CBS Corporation were worth $2,138,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also made changes to their positions in CBS. Dupont Capital Management Corp purchased a new position in shares of CBS Corporation during the 2nd quarter valued at $102,000. Israel Discount Bank of New York purchased a new stake in CBS Corporation during the 1st quarter worth about $114,000. Parallel Advisors LLC lifted its holdings in CBS Corporation by 42.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock worth $118,000 after purchasing an additional 532 shares in the last quarter. Ruggie Capital Group purchased a new stake in CBS Corporation during the 1st quarter worth about $120,000. Finally, State of Alaska Department of Revenue purchased a new stake in CBS Corporation during the 1st quarter worth about $157,000. Hedge funds and other institutional investors own 75.09% of the company’s stock.
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In other CBS Corporation news, EVP Anthony G. Ambrosio sold 8,167 shares of the firm’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $63.78, for a total transaction of $520,891.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Leslie Moonves sold 200,000 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $63.79, for a total transaction of $12,758,000.00. Following the transaction, the chief executive officer now directly owns 1,232,652 shares of the company’s stock, valued at $78,630,871.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 431,005 shares of company stock valued at $27,363,197. Company insiders own 1.67% of the company’s stock.
CBS has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $80.00 price target on shares of CBS Corporation in a research report on Tuesday, August 8th. BidaskClub upgraded CBS Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $71.00 price objective on shares of CBS Corporation in a report on Wednesday, June 14th. Royal Bank Of Canada set a $75.00 price objective on CBS Corporation and gave the stock a “buy” rating in a report on Tuesday, June 6th. Finally, Argus restated a “buy” rating and issued a $79.00 target price (up previously from $71.00) on shares of CBS Corporation in a research note on Thursday, August 10th. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $73.44.
Shares of CBS Corporation (NYSE:CBS) traded down 0.060% during trading on Friday, hitting $58.115. The stock had a trading volume of 1,417,393 shares. The firm has a 50 day moving average price of $64.08 and a 200 day moving average price of $64.68. CBS Corporation has a 12-month low of $48.88 and a 12-month high of $70.10. The firm has a market cap of $23.34 billion, a P/E ratio of 147.875 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 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.07. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.09 billion. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 EPS. On average, equities analysts expect that CBS Corporation will post $4.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, September 7th. CBS Corporation’s payout ratio is 211.76%.
About CBS Corporation
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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