CBS Co. (CBS) Shares Bought by Piedmont Investment Advisors Inc.
Piedmont Investment Advisors Inc. raised its stake in CBS Co. (NYSE:CBS) by 604.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,251 shares of the media conglomerate’s stock after buying an additional 23,383 shares during the period. Piedmont Investment Advisors Inc.’s holdings in CBS were worth $1,566,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of CBS. World Asset Management Inc increased its position in shares of CBS by 3.5% during the 2nd quarter. World Asset Management Inc now owns 26,640 shares of the media conglomerate’s stock valued at $1,498,000 after purchasing an additional 908 shares during the period. Amalgamated Bank grew its holdings in shares of CBS by 5.4% in the 2nd quarter. Amalgamated Bank now owns 51,443 shares of the media conglomerate’s stock worth $2,892,000 after acquiring an additional 2,624 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of CBS by 99.3% in the 2nd quarter. Whittier Trust Co. now owns 8,198 shares of the media conglomerate’s stock worth $510,000 after acquiring an additional 4,085 shares during the last quarter. Sumitomo Life Insurance Co. grew its holdings in shares of CBS by 4.5% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 30,924 shares of the media conglomerate’s stock worth $1,739,000 after acquiring an additional 1,327 shares during the last quarter. Finally, Focused Investors LLC grew its holdings in shares of CBS by 0.4% in the 2nd quarter. Focused Investors LLC now owns 2,498,300 shares of the media conglomerate’s stock worth $140,454,000 after acquiring an additional 9,200 shares during the last quarter. 74.82% of the stock is currently owned by hedge funds and other institutional investors.
CBS has been the topic of a number of recent research reports. Royal Bank of Canada set a $63.00 target price on CBS and gave the stock a “buy” rating in a report on Friday, August 3rd. Zacks Investment Research upgraded CBS from a “sell” rating to a “hold” rating in a report on Friday, October 26th. ValuEngine upgraded CBS from a “strong sell” rating to a “sell” rating in a report on Friday, September 7th. Pivotal Research restated a “hold” rating and issued a $53.00 target price on shares of CBS in a report on Tuesday, July 31st. Finally, Imperial Capital lifted their target price on CBS from $71.00 to $76.00 and gave the stock an “outperform” rating in a report on Friday, November 2nd. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $66.51.
Shares of CBS stock opened at $57.49 on Monday. The firm has a market capitalization of $21.52 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.74 and a beta of 1.19. The company has a quick ratio of 1.05, a current ratio of 1.51 and a debt-to-equity ratio of 3.76. CBS Co. has a 12 month low of $47.54 and a 12 month high of $61.59.
CBS (NYSE:CBS) last issued its earnings results on Thursday, November 1st. The media conglomerate reported $1.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.02. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.25 billion. CBS had a return on equity of 86.51% and a net margin of 9.42%. CBS’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.11 earnings per share. As a group, analysts predict that CBS Co. will post 5.24 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Tuesday, December 11th will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, December 10th. This represents a $0.72 annualized dividend and a dividend yield of 1.25%. CBS’s dividend payout ratio (DPR) is presently 17.18%.
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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