Douglass Winthrop Advisors LLC lowered its holdings in shares of CBS Co. (NYSE:CBS) by 89.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,400 shares of the media conglomerate’s stock after selling 53,134 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in CBS were worth $304,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Benson Investment Management Company Inc. increased its position in CBS by 21.1% during the 1st quarter. Benson Investment Management Company Inc. now owns 68,595 shares of the media conglomerate’s stock valued at $3,260,000 after buying an additional 11,935 shares in the last quarter. APG Asset Management N.V. raised its holdings in shares of CBS by 26.7% during the fourth quarter. APG Asset Management N.V. now owns 2,242,918 shares of the media conglomerate’s stock valued at $85,781,000 after acquiring an additional 472,042 shares during the last quarter. Brandywine Global Investment Management LLC raised its holdings in shares of CBS by 29.6% during the fourth quarter. Brandywine Global Investment Management LLC now owns 323,487 shares of the media conglomerate’s stock valued at $14,143,000 after acquiring an additional 73,975 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of CBS by 50.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 466,687 shares of the media conglomerate’s stock valued at $20,402,000 after acquiring an additional 155,492 shares during the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd acquired a new position in shares of CBS during the fourth quarter valued at approximately $599,000. Institutional investors own 75.73% of the company’s stock.
A number of equities analysts have commented on the company. Barrington Research reissued a “buy” rating and set a $72.00 target price on shares of CBS in a report on Monday, February 4th. TheStreet cut CBS from a “b-” rating to a “c+” rating in a report on Monday, December 31st. Moffett Nathanson raised CBS from a “neutral” rating to a “buy” rating in a report on Thursday, January 17th. Benchmark cut their price target on CBS from $90.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, February 13th. Finally, Atlantic Securities cut CBS from an “overweight” rating to a “neutral” rating and set a $56.00 price target for the company. in a report on Monday, February 11th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. CBS has an average rating of “Buy” and an average target price of $64.28.
In other news, EVP Jonathan Anschell sold 20,730 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $50.11, for a total transaction of $1,038,780.30. Following the completion of the transaction, the executive vice president now directly owns 23,358 shares in the company, valued at $1,170,469.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gary L. Countryman sold 4,584 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $51.35, for a total value of $235,388.40. Following the transaction, the director now owns 63,454 shares of the company’s stock, valued at $3,258,362.90. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.
CBS stock traded up $0.23 during midday trading on Wednesday, hitting $52.47. 24,417 shares of the company’s stock were exchanged, compared to its average volume of 2,985,333. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 3.38. The stock has a market cap of $19.48 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 0.69 and a beta of 1.24. CBS Co. has a 1-year low of $41.38 and a 1-year high of $59.59.
CBS (NYSE:CBS) last posted its earnings results on Thursday, February 14th. The media conglomerate reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.03). The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.13 billion. CBS had a return on equity of 83.61% and a net margin of 13.50%. CBS’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $1.20 EPS. As a group, sell-side analysts anticipate that CBS Co. will post 5.65 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.37%. CBS’s dividend payout ratio is currently 13.87%.
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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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