Asahi Life Asset Management CO. LTD. decreased its holdings in shares of CBS Co. (NYSE:CBS) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,530 shares of the media conglomerate’s stock after selling 350 shares during the period. Asahi Life Asset Management CO. LTD.’s holdings in CBS were worth $405,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Horan Capital Advisors LLC. purchased a new position in CBS in the first quarter valued at about $26,000. Lindbrook Capital LLC purchased a new position in CBS in the fourth quarter valued at about $28,000. Princeton Global Asset Management LLC purchased a new position in CBS in the fourth quarter valued at about $28,000. Trust Co. of Vermont increased its holdings in CBS by 64.6% in the fourth quarter. Trust Co. of Vermont now owns 1,098 shares of the media conglomerate’s stock valued at $48,000 after buying an additional 431 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in CBS in the first quarter valued at about $53,000. Institutional investors and hedge funds own 76.13% of the company’s stock.
In related news, EVP Jonathan Anschell sold 20,730 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $50.11, for a total transaction of $1,038,780.30. Following the sale, the executive vice president now owns 23,358 shares in the company, valued at $1,170,469.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary L. Countryman sold 4,584 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $51.35, for a total transaction of $235,388.40. Following the sale, the director now owns 63,454 shares in the company, valued at approximately $3,258,362.90. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.
CBS has been the subject of a number of research analyst reports. Atlantic Securities cut shares of CBS from an “overweight” rating to a “neutral” rating and set a $56.00 target price for the company. in a report on Monday, February 11th. Loop Capital increased their target price on shares of CBS to $65.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Moffett Nathanson raised shares of CBS from a “neutral” rating to a “buy” rating in a report on Thursday, January 17th. BMO Capital Markets reaffirmed a “buy” rating and issued a $63.00 target price on shares of CBS in a report on Tuesday, February 5th. Finally, Barrington Research reaffirmed a “buy” rating and issued a $72.00 target price on shares of CBS in a report on Tuesday, February 19th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $62.60.
Shares of CBS opened at $48.36 on Friday. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.50 and a quick ratio of 1.16. CBS Co. has a 1-year low of $41.38 and a 1-year high of $59.59. The company has a market cap of $18.09 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 0.61 and a beta of 1.26.
CBS (NYSE:CBS) last issued its quarterly earnings data on Thursday, May 2nd. The media conglomerate reported $1.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.01). CBS had a return on equity of 66.79% and a net margin of 20.32%. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same period last year, the business earned $1.34 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts expect that CBS Co. will post 5.61 earnings per share for the current fiscal year.
CBS Company Profile
CBS Corporation operates as a mass media company worldwide. The company operates in 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 theatrical films; and digital streaming services.
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