Tealwood Asset Management Inc. Purchases 711 Shares of CBS Corp. (CBS)
Tealwood Asset Management Inc. raised its position in shares of CBS Corp. (NYSE:CBS) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,973 shares of the media conglomerate’s stock after buying an additional 711 shares during the period. Tealwood Asset Management Inc.’s holdings in CBS Corp. were worth $1,632,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in CBS. Old Mutual Global Investors UK Ltd. increased its position in shares of 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 worth $102,515,000 after buying an additional 1,882,927 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in shares of CBS Corp. during the first quarter worth $51,458,000. Junto Capital Management LP acquired a new position in shares of CBS Corp. during the first quarter worth $25,427,000. First Quadrant L P CA increased its position in shares of CBS Corp. by 20,860.0% in the second quarter. First Quadrant L P CA now owns 458,186 shares of the media conglomerate’s stock worth $24,944,000 after buying an additional 456,000 shares in the last quarter. Finally, Gluskin Sheff & Assoc Inc. acquired a new position in shares of CBS Corp. during the second quarter worth $24,255,000. 76.80% of the stock is owned by institutional investors and hedge funds.
CBS Corp. (NYSE:CBS) traded up 0.51% during trading on Monday, hitting $55.39. 3,585,994 shares of the company were exchanged. The stock’s 50-day moving average is $53.07 and its 200-day moving average is $53.83. The company has a market capitalization of $24.63 billion, a price-to-earnings ratio of 16.39 and a beta of 1.81. CBS Corp. has a 12 month low of $41.36 and a 12 month high of $58.22.
CBS Corp. (NYSE:CBS) last announced its quarterly earnings data on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.07. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. The firm earned $3.29 billion during the quarter, compared to analyst estimates of $3.21 billion. During the same period last year, the company posted $0.74 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that CBS Corp. will post $3.09 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This is an increase from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.30%. CBS Corp.’s dividend payout ratio (DPR) is 21.30%.
CBS has been the topic of a number of recent analyst reports. Drexel Hamilton initiated coverage on shares of CBS Corp. in a report on Tuesday, September 6th. They set a “buy” rating and a $65.00 price target on the stock. Jefferies Group reiterated a “buy” rating on shares of CBS Corp. in a report on Monday, September 12th. BMO Capital Markets reiterated an “outperform” rating and set a $63.00 price target on shares of CBS Corp. in a report on Sunday, July 31st. Zacks Investment Research upgraded shares of CBS Corp. from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Wednesday, July 20th. Finally, Telsey Advisory Group cut shares of CBS Corp. from an “outperform” rating to a “market perform” rating and cut their price target for the company from $67.00 to $57.00 in a report on Thursday, September 22nd. Five research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. The company 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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