CBS Corp. (CBS) Stake Held by Whittier Trust Co.
Whittier Trust Co. held its stake in shares of CBS Corp. (NYSE:CBS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,846 shares of the media conglomerate’s stock at the end of the second quarter. Whittier Trust Co.’s holdings in CBS Corp. were worth $155,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in the stock. Legal & General Group Plc raised its stake in shares of CBS Corp. by 1.8% in the first quarter. Legal & General Group Plc now owns 1,941,497 shares of the media conglomerate’s stock worth $106,956,000 after buying an additional 34,593 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in CBS Corp. by 1,184,230.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,883,086 shares of the media conglomerate’s stock valued at $102,515,000 after buying an additional 1,882,927 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in CBS Corp. during the first quarter valued at approximately $51,458,000. New York State Teachers Retirement System raised its stake in CBS Corp. by 1.9% in the second quarter. New York State Teachers Retirement System now owns 751,498 shares of the media conglomerate’s stock valued at $40,912,000 after buying an additional 14,088 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in CBS Corp. by 56.0% in the first quarter. Canada Pension Plan Investment Board now owns 630,127 shares of the media conglomerate’s stock valued at $34,714,000 after buying an additional 226,227 shares during the period. Institutional investors and hedge funds own 76.79% of the company’s stock.
Shares of CBS Corp. (NYSE:CBS) traded down 0.24% during midday trading on Friday, reaching $55.11. 2,916,572 shares of the company’s stock traded hands. The stock has a market capitalization of $24.50 billion, a P/E ratio of 16.30 and a beta of 1.81. The firm’s 50-day moving average price is $52.96 and its 200 day moving average price is $53.84. CBS Corp. has a 1-year low of $41.36 and a 1-year high of $58.22.
CBS Corp. (NYSE:CBS) last announced its quarterly earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.21 billion. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. CBS Corp.’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 earnings per share. On average, equities analysts predict that CBS Corp. will post $3.09 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 9th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.31%. This is a boost from CBS Corp.’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, September 7th. CBS Corp.’s payout ratio is 21.30%.
CBS has been the subject of several analyst reports. Telsey Advisory Group lowered CBS Corp. from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $67.00 to $57.00 in a research note on Thursday, September 22nd. Needham & Company LLC restated a “buy” rating and issued a $65.00 price objective on shares of CBS Corp. in a research note on Saturday, July 2nd. Jefferies Group restated a “buy” rating on shares of CBS Corp. in a research note on Monday, September 12th. Wells Fargo & Co. restated an “outperform” rating on shares of CBS Corp. in a research note on Saturday, June 25th. Finally, Argus restated a “buy” rating and issued a $71.00 price objective on shares of CBS Corp. in a research note on Tuesday, October 4th. Five research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $62.64.
CBS Corp. Company Profile
CBS Corporation is a mass media company. The Company’s segments include Entertainment, Cable Networks, Publishing and Local Broadcasting. Its Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Interactive, and CBS Films.
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