Artisan Partners Limited Partnership Sells 2,185,093 Shares of CBS Co. (CBS)

Artisan Partners Limited Partnership cut its holdings in shares of CBS Co. (NYSE:CBS) by 49.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,258,355 shares of the media conglomerate’s stock after selling 2,185,093 shares during the period. Artisan Partners Limited Partnership owned approximately 0.59% of CBS worth $116,057,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Parsons Capital Management Inc. RI lifted its stake in CBS by 10.5% during the fourth quarter. Parsons Capital Management Inc. RI now owns 10,544 shares of the media conglomerate’s stock valued at $622,000 after purchasing an additional 1,005 shares during the last quarter. Dowling & Yahnke LLC lifted its stake in CBS by 15.1% during the first quarter. Dowling & Yahnke LLC now owns 8,202 shares of the media conglomerate’s stock valued at $422,000 after purchasing an additional 1,074 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in CBS by 13.9% during the first quarter. Venturi Wealth Management LLC now owns 8,845 shares of the media conglomerate’s stock valued at $455,000 after purchasing an additional 1,080 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in CBS by 2.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 67,044 shares of the media conglomerate’s stock valued at $3,956,000 after purchasing an additional 1,406 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in CBS by 5.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 28,372 shares of the media conglomerate’s stock valued at $1,674,000 after purchasing an additional 1,437 shares during the last quarter. 75.61% of the stock is owned by institutional investors and hedge funds.

Several research firms recently commented on CBS. B. Riley cut their target price on shares of CBS from $84.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Royal Bank of Canada set a $71.00 target price on shares of CBS and gave the company a “buy” rating in a research note on Saturday, February 17th. Pivotal Research reissued a “hold” rating and set a $64.00 target price on shares of CBS in a research note on Friday, February 16th. Citigroup cut their target price on shares of CBS from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Finally, Wells Fargo & Co downgraded shares of CBS from an “outperform” rating to a “market perform” rating and set a $63.00 price target for the company. in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $68.47.

CBS stock opened at $50.60 on Friday. The company has a market capitalization of $19.53 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 0.68 and a beta of 1.49. The company has a current ratio of 1.52, a quick ratio of 1.13 and a debt-to-equity ratio of 4.78. CBS Co. has a twelve month low of $47.54 and a twelve month high of $68.75.

CBS (NYSE:CBS) last released its quarterly earnings data on Thursday, May 3rd. The media conglomerate reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.15. The firm had revenue of $3.76 billion for 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%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.04 EPS. equities research analysts forecast that CBS Co. will post 5.24 earnings per share for the current year.

In other CBS news, CEO Leslie Moonves sold 85,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 20th. The shares were sold at an average price of $50.46, for a total value of $4,289,100.00. Following the transaction, the chief executive officer now owns 915,531 shares in the company, valued at approximately $46,197,694.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders sold 330,000 shares of company stock worth $17,174,900. Company insiders own 1.80% of the company’s stock.

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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