Olstein Capital Management L.P. Purchases 8,000 Shares of Viacom Inc. (VIAB)
Olstein Capital Management L.P. boosted its position in Viacom Inc. (NASDAQ:VIAB) by 4.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 194,000 shares of the company’s stock after buying an additional 8,000 shares during the period. Olstein Capital Management L.P.’s holdings in Viacom were worth $7,391,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in VIAB. Sentry Investment Management LLC boosted its stake in Viacom by 3.9% in the third quarter. Sentry Investment Management LLC now owns 22,044 shares of the company’s stock worth $840,000 after buying an additional 833 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Viacom by 156.3% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 4,344 shares of the company’s stock worth $166,000 after buying an additional 2,649 shares during the period. Kings Point Capital Management bought a new stake in shares of Viacom during the third quarter worth approximately $305,000. Sei Investments Co. boosted its stake in shares of Viacom by 481.7% in the third quarter. Sei Investments Co. now owns 185,099 shares of the company’s stock worth $7,052,000 after buying an additional 153,280 shares during the period. Finally, Point View Wealth Management Inc. boosted its stake in shares of Viacom by 5.4% in the third quarter. Point View Wealth Management Inc. now owns 23,649 shares of the company’s stock worth $901,000 after buying an additional 1,222 shares during the period. Institutional investors and hedge funds own 75.96% of the company’s stock.
Shares of Viacom Inc. (NASDAQ:VIAB) traded up 0.54% during midday trading on Tuesday, reaching $36.99. The company had a trading volume of 1,491,230 shares. Viacom Inc. has a 12 month low of $30.11 and a 12 month high of $50.18. The company has a market capitalization of $14.68 billion, a P/E ratio of 10.23 and a beta of 1.32. The firm’s 50 day moving average price is $37.16 and its 200-day moving average price is $40.40.
Viacom (NASDAQ:VIAB) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.04. The business earned $3.23 billion during the quarter, compared to analyst estimates of $3.31 billion. Viacom had a net margin of 11.52% and a return on equity of 36.21%. The firm’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 earnings per share. Analysts anticipate that Viacom Inc. will post $3.80 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Tuesday, December 13th. Viacom’s dividend payout ratio is currently 22.10%.
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A number of equities research analysts have commented on the company. Sanford C. Bernstein reiterated an “underperform” rating and set a $31.00 target price on shares of Viacom in a report on Thursday, November 10th. Brean Capital reiterated a “hold” rating on shares of Viacom in a report on Friday, August 5th. Telsey Advisory Group lowered their target price on Viacom from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, August 5th. Vetr upgraded Viacom from a “sell” rating to a “hold” rating and set a $42.50 target price on the stock in a report on Tuesday, August 2nd. Finally, Wells Fargo & Co. reiterated an “underperform” rating and set a $35.00 target price on shares of Viacom in a report on Thursday, September 22nd. Two equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $43.18.
Viacom Company Profile
Viacom Inc (Viacom) is an entertainment content company that connects with audiences in over 160 countries and territories and creates compelling television programs, motion pictures, short-form video, applications, games, consumer products, social media and other entertainment content. The Company operates through two segments: Media Networks and Filmed Entertainment.
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