SG Americas Securities LLC lowered its position in shares of CBS Co. (NYSE:CBS) by 12.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 179,869 shares of the media conglomerate’s stock after selling 24,905 shares during the period. SG Americas Securities LLC’s holdings in CBS were worth $7,261,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ellevest Inc. acquired a new stake in shares of CBS during the second quarter worth about $25,000. Whitener Capital Management Inc. increased its position in shares of CBS by 57.1% during 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. Carroll Financial Associates Inc. increased its position in shares of CBS by 96.5% during 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. Personal Wealth Partners acquired a new stake in shares of CBS during the second quarter worth about $29,000. Finally, NEXT Financial Group Inc increased its position in shares of CBS by 70.2% during 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. Institutional investors and hedge funds own 73.95% of the company’s stock.
A number of research firms have recently commented on CBS. Wells Fargo & Co cut their target price on CBS from $40.00 to $31.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 23rd. Loop Capital dropped their price target on CBS to $50.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. BMO Capital Markets cut CBS from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $60.00 to $51.00 in a research report on Wednesday, August 14th. Citigroup dropped their price target on CBS from $57.00 to $51.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Barrington Research restated a “buy” rating and issued a $47.00 price target on shares of CBS in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $51.50.
CBS stock traded up $0.31 during trading on Friday, hitting $38.11. The company had a trading volume of 3,651,502 shares, compared to its average volume of 3,338,688. CBS Co. has a 1-year low of $35.02 and a 1-year high of $58.38. The firm has a 50-day moving average price of $38.20 and a 200-day moving average price of $45.76. The firm has a market cap of $14.05 billion, a PE ratio of 7.34, a price-to-earnings-growth ratio of 0.63 and a beta of 1.17. The company has a quick ratio of 1.14, a current ratio of 1.65 and a debt-to-equity ratio of 2.15.
CBS (NYSE:CBS) last announced its quarterly earnings data on Thursday, August 8th. The media conglomerate reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the company earned $1.12 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Sell-side analysts anticipate that CBS Co. will post 5.11 earnings per share for the current year.
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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