National Pension Service grew its holdings in CBS Co. (NYSE:CBS) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 401,236 shares of the media conglomerate’s stock after acquiring an additional 15,591 shares during the quarter. National Pension Service owned 0.10% of CBS worth $23,673,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Engine Capital Management LLC bought a new stake in shares of CBS in the third quarter valued at about $2,610,000. FNY Managed Accounts LLC bought a new stake in CBS during the third quarter worth about $2,031,000. Community Trust & Investment Co. lifted its position in CBS by 1.6% during the third quarter. Community Trust & Investment Co. now owns 128,239 shares of the media conglomerate’s stock worth $7,438,000 after purchasing an additional 2,073 shares during the period. MUFG Securities EMEA plc bought a new stake in CBS during the third quarter worth about $1,740,000. Finally, Colony Group LLC lifted its position in CBS by 8.5% during the second quarter. Colony Group LLC now owns 132,430 shares of the media conglomerate’s stock worth $8,446,000 after purchasing an additional 10,394 shares during the period. 75.10% of the stock is owned by institutional investors.
In other news, COO Joseph R. Ianniello sold 2,400 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $60.13, for a total value 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 $19,285,073.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arnold Kopelson sold 5,093 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $59.51, for a total value of $303,084.43. The disclosure for this sale can be found here. Insiders sold 226,377 shares of company stock valued at $13,319,103 in the last ninety days. 1.67% of the stock is currently owned by insiders.
Shares of CBS Co. (NYSE CBS) traded up $0.96 during midday trading on Friday, reaching $52.76. The company’s stock had a trading volume of 4,510,000 shares, compared to its average volume of 4,550,000. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.10 and a current ratio of 1.55. The firm has a market capitalization of $21,120.00, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 0.79 and a beta of 1.50. CBS Co. has a 12-month low of $50.63 and a 12-month high of $70.10.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, March 8th. CBS’s dividend payout ratio is currently 20.93%.
Several research firms recently weighed in on CBS. ValuEngine cut shares of CBS from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Wells Fargo & Co cut shares of CBS from an “outperform” rating to a “market perform” rating and set a $63.00 price objective for the company. in a research report on Monday, January 29th. Stephens cut shares of CBS from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $72.00 to $64.00 in a research report on Monday, January 22nd. Benchmark reaffirmed a “buy” rating and set a $78.00 price objective on shares of CBS in a research report on Tuesday, January 16th. Finally, Pivotal Research reaffirmed a “hold” rating and set a $64.00 price objective (up previously from $62.00) on shares of CBS in a research report on Tuesday, January 9th. Nine analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. CBS has an average rating of “Buy” and a consensus target price of $70.96.
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CBS Company Profile
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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