Prudential Financial Inc. Acquires 20,273 Shares of CBS Co. (CBS)

Prudential Financial Inc. grew its holdings in CBS Co. (NYSE:CBS) by 4.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 530,826 shares of the media conglomerate’s stock after buying an additional 20,273 shares during the period. Prudential Financial Inc. owned 0.14% of CBS worth $27,279,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. TIAA CREF Investment Management LLC raised its position in shares of CBS by 10.9% in the fourth quarter. TIAA CREF Investment Management LLC now owns 4,529,331 shares of the media conglomerate’s stock valued at $267,231,000 after buying an additional 443,907 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of CBS by 26.3% in the fourth quarter. Victory Capital Management Inc. now owns 3,577,959 shares of the media conglomerate’s stock valued at $211,100,000 after buying an additional 744,366 shares during the last quarter. Focused Investors LLC raised its position in shares of CBS by 57.9% in the fourth quarter. Focused Investors LLC now owns 2,565,400 shares of the media conglomerate’s stock valued at $151,359,000 after buying an additional 940,500 shares during the last quarter. Teachers Advisors LLC raised its position in shares of CBS by 3.5% in the fourth quarter. Teachers Advisors LLC now owns 1,437,701 shares of the media conglomerate’s stock valued at $84,824,000 after buying an additional 48,036 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of CBS by 2.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,411,688 shares of the media conglomerate’s stock valued at $83,290,000 after buying an additional 39,897 shares during the last quarter. Institutional investors and hedge funds own 77.91% of the company’s stock.

Shares of CBS opened at $51.61 on Friday, MarketBeat Ratings reports. The company has a quick ratio of 1.13, a current ratio of 1.52 and a debt-to-equity ratio of 4.78. The stock has a market cap of $20.40 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 0.73 and a beta of 1.49. CBS Co. has a 1-year low of $53.76 and a 1-year high of $54.58.

CBS (NYSE:CBS) last announced its earnings results on Thursday, May 3rd. The media conglomerate reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.15. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.65 billion. CBS had a net margin of 7.94% and a return on equity of 77.15%. CBS’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.04 earnings per share. equities research analysts anticipate that CBS Co. will post 5.24 earnings per share for the current fiscal year.

A number of equities research analysts have recently commented on CBS shares. Royal Bank of Canada set a $71.00 target price on shares of CBS and gave the company a “buy” rating in a research report on Saturday, February 17th. Citigroup reduced their target price on shares of CBS from $71.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, March 28th. Loop Capital started coverage on shares of CBS in a research report on Thursday, March 15th. They issued a “buy” rating and a $75.00 target price for the company. Benchmark reiterated a “buy” rating on shares of CBS in a research report on Friday, February 16th. Finally, B. Riley reduced their target price on shares of CBS from $84.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $69.12.

In other CBS news, CEO Leslie Moonves sold 85,000 shares of the stock in a transaction dated Tuesday, March 20th. The shares were sold at an average price of $50.46, for a total transaction of $4,289,100.00. Following the completion of the transaction, the chief executive officer now owns 915,531 shares of the company’s stock, valued at $46,197,694.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 330,000 shares of company stock valued at $17,174,900. 1.80% of the stock is currently owned by insiders.

CBS 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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Institutional Ownership by Quarter for CBS (NYSE:CBS)

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