First Republic Investment Management Inc. grew its stake in CBS Co. (NYSE:CBS) by 1,155.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 421,915 shares of the media conglomerate’s stock after purchasing an additional 388,298 shares during the period. First Republic Investment Management Inc. owned approximately 0.11% of CBS worth $24,239,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC grew its stake in shares of CBS by 95.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,257 shares of the media conglomerate’s stock valued at $122,000 after purchasing an additional 1,100 shares during the period. Capital Advisors Ltd. LLC grew its stake in shares of CBS by 3,620.8% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,679 shares of the media conglomerate’s stock valued at $154,000 after purchasing an additional 2,607 shares during the period. Atria Investments LLC acquired a new position in shares of CBS in the 3rd quarter worth approximately $202,000. Trustcore Financial Services LLC boosted its holdings in shares of CBS by 455.0% in the 3rd quarter. Trustcore Financial Services LLC now owns 4,007 shares of the media conglomerate’s stock worth $230,000 after acquiring an additional 3,285 shares in the last quarter. Finally, Greenleaf Trust acquired a new position in shares of CBS in the 2nd quarter worth approximately $240,000. Institutional investors own 68.78% of the company’s stock.
In other CBS news, EVP Anthony G. Ambrosio sold 11,697 shares of the company’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $57.53, for a total transaction of $672,928.41. Following the transaction, the executive vice president now owns 80,950 shares of the company’s stock, valued at approximately $4,657,053.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Anthony G. Ambrosio sold 3,449 shares of the company’s stock in a transaction on Tuesday, October 9th. The stock was sold at an average price of $57.67, for a total value of $198,903.83. Following the transaction, the executive vice president now directly owns 72,702 shares in the company, valued at approximately $4,192,724.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,380 shares of company stock worth $1,001,762. Company insiders own 0.51% of the company’s stock.
NYSE:CBS opened at $51.10 on Friday. CBS Co. has a 52-week low of $47.54 and a 52-week 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 $19.21 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 0.66 and a beta of 1.19.
CBS (NYSE:CBS) last posted its quarterly earnings data on Thursday, November 1st. The media conglomerate reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.02. CBS had a return on equity of 86.51% and a net margin of 9.42%. The firm 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 business earned $1.11 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts expect that CBS Co. will post 5.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Tuesday, December 11th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, December 10th. CBS’s dividend payout ratio is 17.18%.
Several research analysts have recently commented on CBS shares. Zacks Investment Research downgraded CBS from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. UBS Group downgraded CBS from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $72.00 to $60.00 in a report on Monday, September 10th. Morgan Stanley reissued an “equal weight” rating and issued a $65.00 target price on shares of CBS in a report on Monday, October 15th. ValuEngine raised CBS from a “strong sell” rating to a “sell” rating in a report on Friday, September 7th. Finally, Barrington Research reissued a “buy” rating and issued a $73.00 target price on shares of CBS in a report on Monday, September 10th. Thirteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $66.14.
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CBS Company 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.
Read More: Return on Equity (ROE)
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