Gulf International Bank UK Ltd lessened its stake in shares of CBS Co. (NYSE:CBS) by 27.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 79,823 shares of the media conglomerate’s stock after selling 29,468 shares during the quarter. Gulf International Bank UK Ltd’s holdings in CBS were worth $3,489,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in CBS. Chicago Partners Investment Group LLC raised its holdings in CBS by 95.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,257 shares of the media conglomerate’s stock valued at $122,000 after buying an additional 1,100 shares during the period. Capital Advisors Ltd. LLC raised its holdings in CBS by 3,620.8% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,679 shares of the media conglomerate’s stock valued at $154,000 after buying an additional 2,607 shares during the period. Atria Investments LLC purchased a new stake in CBS during the 3rd quarter valued at $202,000. Trustcore Financial Services LLC increased its stake in CBS by 455.0% in the third quarter. Trustcore Financial Services LLC now owns 4,007 shares of the media conglomerate’s stock worth $230,000 after purchasing an additional 3,285 shares during the period. Finally, Lourd Capital LLC purchased a new stake in CBS in the third quarter worth $245,000. Institutional investors own 75.12% of the company’s stock.
In other news, EVP Anthony G. Ambrosio sold 2,234 shares of the stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $58.16, for a total transaction of $129,929.44. Following the transaction, the executive vice president now owns 74,703 shares of the company’s stock, valued at approximately $4,344,726.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.51% of the stock is currently owned by corporate insiders.
CBS opened at $47.97 on Friday. CBS Co. has a 12-month low of $41.38 and a 12-month high of $61.59. The company has a debt-to-equity ratio of 3.76, a quick ratio of 1.05 and a current ratio of 1.51. The firm has a market cap of $17.89 billion, a PE ratio of 11.45, a PEG ratio of 0.56 and a beta of 1.29.
CBS (NYSE:CBS) last posted its quarterly earnings results on Thursday, November 1st. The media conglomerate reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. CBS had a return on equity of 86.51% and a net margin of 9.42%. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the prior year, the company earned $1.11 EPS. The business’s revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that CBS Co. will post 5.24 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 1st. Stockholders of record on Tuesday, December 11th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Monday, December 10th. CBS’s payout ratio is 17.18%.
A number of analysts have weighed in on the company. TheStreet lowered CBS from a “b-” rating to a “c+” rating in a research note on Monday, December 31st. Stephens upgraded CBS from an “equal weight” rating to an “overweight” rating and set a $58.00 target price on the stock in a research note on Wednesday, January 2nd. Loop Capital reduced their target price on CBS from $68.00 to $59.00 in a research note on Thursday, December 27th. Wolfe Research assumed coverage on CBS in a research note on Friday, December 7th. They issued a “market perform” rating on the stock. Finally, Goldman Sachs Group assumed coverage on CBS in a research note on Thursday, November 29th. They issued a “neutral” rating and a $59.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $66.21.
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.
Further Reading: Ex-Dividend
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