CBS Co. (CBS) Sees Significant Decrease in Short Interest

CBS Co. (NYSE:CBS) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 13,640,774 shares, a decrease of 19.4% from the January 12th total of 16,917,429 shares. Based on an average daily volume of 4,980,736 shares, the days-to-cover ratio is presently 2.7 days. Currently, 3.9% of the company’s shares are sold short.

Several research firms recently commented on CBS. KeyCorp reiterated a “hold” rating on shares of CBS in a research note on Tuesday, October 17th. ValuEngine lowered CBS from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. B. Riley reiterated a “buy” rating on shares of CBS in a research note on Friday, November 3rd. Zacks Investment Research upgraded CBS from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Finally, Wells Fargo & Co downgraded 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. Nine equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $70.91.

Shares of CBS (NYSE CBS) opened at $54.67 on Wednesday. CBS has a 1 year low of $50.63 and a 1 year high of $70.10. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.10 and a current ratio of 1.55. The stock has a market capitalization of $21,880.00, a PE ratio of 15.89, a price-to-earnings-growth ratio of 0.79 and a beta of 1.50.

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Thursday, March 8th. CBS’s payout ratio is 20.93%.

In related news, CEO Leslie Moonves sold 85,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $57.85, for a total value of $4,917,250.00. Following the completion of the transaction, the chief executive officer now directly owns 884,513 shares in the company, valued at $51,169,077.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joseph R. Ianniello sold 2,400 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $60.13, for a total value of $144,312.00. Following the completion of the transaction, the chief operating officer now owns 320,723 shares of the company’s stock, valued at $19,285,073.99. The disclosure for this sale can be found here. Insiders sold 226,377 shares of company stock valued at $13,319,103 over the last quarter. Insiders own 2.03% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Scotia Capital Inc. purchased a new stake in shares of CBS in the fourth quarter worth about $235,000. Matrix Asset Advisors Inc. NY purchased a new stake in shares of CBS in the fourth quarter worth about $2,855,000. Highlander Capital Management LLC boosted its position in shares of CBS by 875.0% in the fourth quarter. Highlander Capital Management LLC now owns 12,675 shares of the media conglomerate’s stock worth $748,000 after buying an additional 11,375 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position in shares of CBS by 66.6% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 602,128 shares of the media conglomerate’s stock worth $35,526,000 after buying an additional 240,768 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of CBS in the fourth quarter worth about $227,000. 75.31% of the stock is owned by institutional investors.

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About CBS

CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.

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