Spirit of America Management Corp NY increased its stake in CBS Co. (NYSE:CBS) by 24.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,100 shares of the media conglomerate’s stock after buying an additional 2,000 shares during the period. Spirit of America Management Corp NY’s holdings in CBS were worth $596,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the stock. Bank of Hawaii lifted its holdings in shares of CBS by 0.3% during the 2nd quarter. Bank of Hawaii now owns 18,458 shares of the media conglomerate’s stock valued at $1,177,000 after buying an additional 50 shares during the period. Thrivent Financial For Lutherans raised its holdings in CBS by 2.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 14,130 shares of the media conglomerate’s stock worth $901,000 after purchasing an additional 370 shares during the period. Intellectus Partners LLC raised its holdings in CBS by 8.4% in the 2nd quarter. Intellectus Partners LLC now owns 6,601 shares of the media conglomerate’s stock worth $422,000 after purchasing an additional 509 shares during the period. Green Square Capital LLC raised its holdings in CBS by 18.4% in the 2nd quarter. Green Square Capital LLC now owns 7,390 shares of the media conglomerate’s stock worth $473,000 after purchasing an additional 1,150 shares during the period. Finally, FDx Advisors Inc. raised its holdings in CBS by 3.1% in the 3rd quarter. FDx Advisors Inc. now owns 40,738 shares of the media conglomerate’s stock worth $2,363,000 after purchasing an additional 1,237 shares during the period. Institutional investors own 75.10% of the company’s stock.
A number of research analysts have recently weighed in on CBS shares. Morgan Stanley started coverage on CBS in a research report on Wednesday, December 6th. They set an “overweight” rating and a $68.00 price objective for the company. Zacks Investment Research lowered CBS from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Stephens started coverage on CBS in a research report on Thursday, December 14th. They set an “overweight” rating and a $70.00 price objective for the company. Barclays dropped their price target on CBS from $57.00 to $55.00 and set an “equal weight” rating for the company in a research report on Friday, October 13th. Finally, Macquarie lowered CBS from an “outperform” rating to a “neutral” rating and set a $60.00 price target for the company. in a research report on Tuesday, January 2nd. Nine research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. CBS presently has a consensus rating of “Buy” and an average price target of $70.96.
In other CBS news, COO Joseph R. Ianniello sold 46,621 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $60.01, for a total value of $2,797,726.21. Following the completion of the transaction, the chief operating officer now owns 321,463 shares in the company, valued at $19,290,994.63. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Joseph R. Ianniello sold 2,400 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $60.13, for a total transaction of $144,312.00. Following the completion of the transaction, the chief operating officer now owns 320,723 shares of the company’s stock, valued at approximately $19,285,073.99. The disclosure for this sale can be found here. Insiders have sold 226,377 shares of company stock valued at $13,319,103 over the last 90 days. 1.67% of the stock is currently owned by insiders.
CBS Co. (NYSE:CBS) traded up $0.96 during midday trading on Friday, reaching $52.76. 4,509,499 shares of the company were exchanged, compared to its average volume of 4,530,000. The firm has a market capitalization of $21,120.00, a P/E ratio of 15.34, a PEG ratio of 0.80 and a beta of 1.50. CBS Co. has a 52 week low of $50.63 and a 52 week high of $70.10. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 3.03.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.72 dividend on an annualized basis and a yield of 1.36%. CBS’s dividend payout ratio is presently 20.93%.
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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