Focused Investors LLC Sells 7,800 Shares of CBS Co. (NYSE:CBS)

Focused Investors LLC decreased its holdings in shares of CBS Co. (NYSE:CBS) by 0.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,813,500 shares of the media conglomerate’s stock after selling 7,800 shares during the quarter. CBS accounts for about 3.2% of Focused Investors LLC’s investment portfolio, making the stock its 17th biggest position. Focused Investors LLC’s holdings in CBS were worth $73,211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CBS. Whitener Capital Management Inc. grew its stake in CBS by 57.1% in the second quarter. Whitener Capital Management Inc. now owns 550 shares of the media conglomerate’s stock worth $27,000 after purchasing an additional 200 shares in the last quarter. NEXT Financial Group Inc grew its stake in CBS by 70.2% in the second quarter. NEXT Financial Group Inc now owns 594 shares of the media conglomerate’s stock worth $30,000 after purchasing an additional 245 shares in the last quarter. Shamrock Asset Management LLC grew its stake in CBS by 4.4% in the second quarter. Shamrock Asset Management LLC now owns 6,129 shares of the media conglomerate’s stock worth $306,000 after purchasing an additional 258 shares in the last quarter. Carroll Financial Associates Inc. grew its stake in CBS by 96.5% in the second quarter. Carroll Financial Associates Inc. now owns 560 shares of the media conglomerate’s stock worth $27,000 after purchasing an additional 275 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in CBS by 1.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 19,438 shares of the media conglomerate’s stock worth $970,000 after purchasing an additional 293 shares in the last quarter. 74.26% of the stock is currently owned by hedge funds and other institutional investors.

CBS stock traded down $0.40 during mid-day trading on Monday, reaching $36.35. 5,778,349 shares of the company were exchanged, compared to its average volume of 4,682,803. The business has a fifty day moving average of $40.93 and a 200 day moving average of $47.26. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.14 and a current ratio of 1.65. The firm has a market cap of $14.15 billion, a P/E ratio of 7.00, a PEG ratio of 0.59 and a beta of 1.19. CBS Co. has a 12-month low of $36.25 and a 12-month high of $59.56.

CBS (NYSE:CBS) last posted its earnings results on Thursday, August 8th. The media conglomerate reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03. CBS had a return on equity of 55.03% and a net margin of 20.13%. The company had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the business earned $1.12 earnings per share. CBS’s revenue was up 9.7% on a year-over-year basis. Sell-side analysts predict that CBS Co. will post 5.43 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.98%. CBS’s dividend payout ratio is presently 13.87%.

Several brokerages recently issued reports on CBS. Imperial Capital dropped their price objective on CBS from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Friday. ValuEngine raised CBS from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Bank of America raised CBS from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $58.00 to $63.00 in a research note on Wednesday, August 14th. TheStreet lowered CBS from a “b-” rating to a “c+” rating in a report on Friday, August 23rd. Finally, Loop Capital lowered their target price on CBS to $50.00 and set a “buy” rating for the company in a report on Friday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. CBS has an average rating of “Hold” and an average target price of $54.88.

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.

Featured Article: Calculating net profit and net profit margin ratio

Want to see what other hedge funds are holding CBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBS Co. (NYSE:CBS).

Institutional Ownership by Quarter for CBS (NYSE:CBS)

Receive News & Ratings for CBS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS and related companies with MarketBeat.com's FREE daily email newsletter.