Financial Counselors Inc. Grows Holdings in CBS Co. (CBS)
Financial Counselors Inc. raised its holdings in shares of CBS Co. (NYSE:CBS) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 156,721 shares of the media conglomerate’s stock after purchasing an additional 8,424 shares during the quarter. Financial Counselors Inc.’s holdings in CBS were worth $7,449,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in CBS. Campbell Newman Asset Management Inc. lifted its holdings in shares of CBS by 4.0% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 5,186 shares of the media conglomerate’s stock worth $246,000 after acquiring an additional 198 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of CBS by 2.3% in the 1st quarter. Stratos Wealth Partners LTD. now owns 10,074 shares of the media conglomerate’s stock worth $479,000 after acquiring an additional 228 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of CBS by 21.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,750 shares of the media conglomerate’s stock worth $77,000 after acquiring an additional 307 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of CBS by 0.7% in the 4th quarter. Nuveen Asset Management LLC now owns 54,028 shares of the media conglomerate’s stock worth $2,362,000 after acquiring an additional 350 shares during the last quarter. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of CBS by 17.4% in the 4th quarter. CSat Investment Advisory L.P. now owns 2,596 shares of the media conglomerate’s stock worth $113,000 after acquiring an additional 384 shares during the last quarter. Institutional investors and hedge funds own 73.25% of the company’s stock.
In related news, EVP Jonathan Anschell sold 20,730 shares of CBS stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $50.11, for a total transaction of $1,038,780.30. Following the completion of the sale, the executive vice president now owns 23,358 shares in the company, valued at approximately $1,170,469.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.56% of the company’s stock.
CBS traded down $0.20 on Wednesday, reaching $47.42. 10,886 shares of the company traded hands, compared to its average volume of 2,107,422. CBS Co. has a one year low of $41.38 and a one year high of $59.59. The firm has a market capitalization of $17.80 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 0.69 and a beta of 1.26. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.50 and a quick ratio of 1.16.
CBS (NYSE:CBS) last announced its quarterly earnings data on Thursday, May 2nd. The media conglomerate reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). CBS had a net margin of 20.32% and a return on equity of 66.79%. The company had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the previous year, the business earned $1.34 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities analysts anticipate that CBS Co. will post 5.62 earnings per share for the current fiscal year.
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CBS Corporation operates as a mass media company worldwide. The company operates in 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 theatrical films; and digital streaming services.
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