Moloney Securities Asset Management LLC lowered its position in shares of CBS Corporation (NYSE:CBS) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,600 shares of the media conglomerate’s stock after selling 42 shares during the period. Moloney Securities Asset Management LLC’s holdings in CBS Corporation were worth $230,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in CBS. Israel Discount Bank of New York purchased a new stake in CBS Corporation during the first quarter worth $114,000. Ruggie Capital Group purchased a new stake in CBS Corporation during the first quarter worth $120,000. State of Alaska Department of Revenue bought a new stake in shares of CBS Corporation during the first quarter valued at approximately $157,000. Independent Portfolio Consultants Inc. increased its stake in shares of CBS Corporation by 31.4% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,936 shares of the media conglomerate’s stock valued at $187,000 after buying an additional 701 shares during the period. Finally, Holderness Investments Co. bought a new stake in shares of CBS Corporation during the first quarter valued at approximately $203,000. 74.03% of the stock is owned by institutional investors and hedge funds.
Shares of CBS Corporation (NYSE CBS) opened at 66.52 on Thursday. The stock’s 50 day moving average price is $65.01 and its 200-day moving average price is $65.02. The company has a market capitalization of $26.72 billion, a PE ratio of 169.26 and a beta of 1.71. CBS Corporation has a 1-year low of $48.88 and a 1-year high of $70.10.
CBS Corporation (NYSE:CBS) last posted its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the company earned $0.93 earnings per share. CBS Corporation’s revenue was up 9.4% on a year-over-year basis. On average, equities analysts predict that CBS Corporation will post $4.46 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, September 7th. CBS Corporation’s dividend payout ratio is 211.76%.
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Several brokerages have recently commented on CBS. Barclays PLC set a $57.00 price objective on shares of CBS Corporation and gave the stock a “hold” rating in a research report on Friday, August 11th. Argus reaffirmed a “buy” rating and set a $79.00 price objective (up previously from $71.00) on shares of CBS Corporation in a research report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $73.00 price objective (up previously from $71.00) on shares of CBS Corporation in a research report on Wednesday, August 9th. BMO Capital Markets reaffirmed a “buy” rating and set a $80.00 price objective on shares of CBS Corporation in a research report on Tuesday, August 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $77.00 price objective (up previously from $75.00) on shares of CBS Corporation in a research report on Tuesday, August 8th. Six equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $72.94.
In other news, EVP Gil D. Schwartz sold 5,270 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $64.08, for a total value of $337,701.60. Following the transaction, the executive vice president now owns 60,322 shares of the company’s stock, valued at $3,865,433.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $65.96, for a total value of $538,695.32. The disclosure for this sale can be found here. In the last three months, insiders sold 226,874 shares of company stock worth $14,499,946. 1.67% of the stock is owned by corporate insiders.
CBS Corporation Company Profile
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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