Scotia Capital Inc. purchased a new stake in CBS Co. (NYSE:CBS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,986 shares of the media conglomerate’s stock, valued at approximately $235,000.

Several other hedge funds also recently bought and sold shares of the company. Matrix Asset Advisors Inc. NY acquired a new position in shares of CBS in the 4th quarter valued at $2,855,000. Highlander Capital Management LLC lifted its stake in shares of CBS by 875.0% in the 4th quarter. Highlander Capital Management LLC now owns 12,675 shares of the media conglomerate’s stock valued at $748,000 after purchasing an additional 11,375 shares during the period. Amundi Pioneer Asset Management Inc. raised its stake in CBS by 66.6% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 602,128 shares of the media conglomerate’s stock worth $35,526,000 after buying an additional 240,768 shares during the period. Lombard Odier Asset Management Europe Ltd acquired a new stake in CBS during the 4th quarter worth $227,000. Finally, Baltimore Capital Management Inc. raised its stake in CBS by 96.4% during the 4th quarter. Baltimore Capital Management Inc. now owns 19,300 shares of the media conglomerate’s stock worth $1,139,000 after buying an additional 9,475 shares during the period. 77.98% of the stock is currently owned by institutional investors.

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Several analysts recently commented on CBS shares. Morgan Stanley started coverage on CBS in a research note on Wednesday, December 6th. They set an “overweight” rating and a $68.00 price objective on the stock. Stephens started coverage on CBS in a research note on Thursday, December 14th. They set an “overweight” rating and a $70.00 price objective on the stock. ValuEngine downgraded CBS from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Macquarie downgraded CBS from an “outperform” rating to a “neutral” rating and set a $60.00 price objective on the stock. in a research note on Tuesday, January 2nd. Finally, Zacks Investment Research downgraded CBS from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Nine investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $70.83.

Shares of CBS Co. (NYSE CBS) opened at $51.90 on Wednesday. CBS Co. has a 12 month low of $50.54 and a 12 month high of $70.10. The stock has a market capitalization of $20,012.38, a PE ratio of 12.05, a price-to-earnings-growth ratio of 0.76 and a beta of 1.51. The company has a quick ratio of 1.12, a current ratio of 1.58 and a debt-to-equity ratio of 4.78.

CBS (NYSE:CBS) last released its quarterly earnings results on Thursday, February 15th. The media conglomerate reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.06. CBS had a return on equity of 67.23% and a net margin of 2.61%. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the business posted $1.11 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. equities research analysts forecast that CBS Co. will post 5.21 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 9th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, March 8th. CBS’s dividend payout ratio is 80.90%.

In other CBS news, CEO Leslie Moonves sold 85,000 shares of CBS stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $59.07, for a total value of $5,020,950.00. Following the sale, the chief executive officer now owns 971,448 shares of the company’s stock, valued at approximately $57,383,433.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joseph R. Ianniello sold 2,263 shares of CBS stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $60.00, for a total value of $135,780.00. Following the completion of the sale, the chief operating officer now directly owns 551,494 shares in the company, valued at approximately $33,089,640. The disclosure for this sale can be found here. Insiders sold a total of 221,284 shares of company stock worth $12,780,568 in the last three months. Company insiders own 2.03% of the company’s stock.

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CBS 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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Institutional Ownership by Quarter for CBS (NYSE:CBS)

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