Spirit of America Management Corp NY cut its holdings in CBS Co. (NYSE:CBS) by 19.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,100 shares of the media conglomerate’s stock after selling 2,000 shares during the quarter. Spirit of America Management Corp NY’s holdings in CBS were worth $465,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Sound Shore Management Inc. CT boosted its stake in CBS by 1.8% in the second quarter. Sound Shore Management Inc. CT now owns 3,572,553 shares of the media conglomerate’s stock valued at $200,849,000 after buying an additional 62,318 shares in the last quarter. Focused Investors LLC boosted its stake in CBS by 0.4% in the second quarter. Focused Investors LLC now owns 2,498,300 shares of the media conglomerate’s stock valued at $140,454,000 after buying an additional 9,200 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in CBS by 3.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,083,439 shares of the media conglomerate’s stock valued at $60,911,000 after buying an additional 33,347 shares in the last quarter. Guggenheim Capital LLC boosted its stake in CBS by 13.3% in the first quarter. Guggenheim Capital LLC now owns 696,335 shares of the media conglomerate’s stock valued at $35,785,000 after buying an additional 81,613 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in CBS by 12.0% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 674,087 shares of the media conglomerate’s stock valued at $34,641,000 after buying an additional 71,959 shares in the last quarter. 74.89% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Anthony G. Ambrosio sold 2,100 shares of the firm’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $55.16, for a total transaction of $115,836.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony G. Ambrosio sold 3,449 shares of the firm’s stock in a transaction dated Tuesday, October 9th. The stock was sold at an average price of $57.67, for a total value of $198,903.83. Following the transaction, the executive vice president now owns 72,702 shares of the company’s stock, valued at $4,192,724.34. The disclosure for this sale can be found here. Insiders have sold 32,925 shares of company stock valued at $1,882,469 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

Shares of CBS stock opened at $54.32 on Friday. CBS Co. has a 12 month low of $47.54 and a 12 month high of $61.59. The stock has a market cap of $21.60 billion, a PE ratio of 12.96, a PEG ratio of 0.72 and a beta of 1.36. The company has a current ratio of 1.60, a quick ratio of 1.10 and a debt-to-equity ratio of 4.37.

CBS (NYSE:CBS) last announced its quarterly earnings results on Thursday, August 2nd. The media conglomerate reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.01. CBS had a return on equity of 81.10% and a net margin of 10.21%. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the firm posted $1.04 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities analysts predict that CBS Co. will post 5.24 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 10th were given a dividend of $0.18 per share. The ex-dividend date was Friday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.33%. CBS’s dividend payout ratio (DPR) is 17.18%.

CBS has been the topic of several research analyst reports. ValuEngine raised CBS from a “strong sell” rating to a “sell” rating in a research note on Friday, June 15th. Imperial Capital initiated coverage on CBS in a research note on Thursday, June 28th. They issued an “outperform” rating and a $71.00 price objective on the stock. TheStreet raised CBS from a “c+” rating to a “b-” rating in a research note on Wednesday, June 27th. Credit Suisse Group initiated coverage on CBS in a research note on Tuesday, July 10th. They issued an “overweight” rating and a $66.00 price objective on the stock. Finally, Cowen lowered CBS from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $65.86.

CBS Company Profile

CBS Corporation operates as a mass media company worldwide. The company operates through four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces, acquires, and distributes theatrical motion pictures; and digital streaming services.

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Institutional Ownership by Quarter for CBS (NYSE:CBS)

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