HL Financial Services LLC reduced its position in shares of CBS Corporation (NYSE:CBS) by 71.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,554 shares of the media conglomerate’s stock after selling 19,355 shares during the quarter. HL Financial Services LLC’s holdings in CBS Corporation were worth $438,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Fred Alger Management Inc. raised its stake in CBS Corporation by 0.6% during the 2nd quarter. Fred Alger Management Inc. now owns 4,880,086 shares of the media conglomerate’s stock valued at $311,252,000 after purchasing an additional 29,986 shares during the period. Focused Investors LLC increased its stake in shares of CBS Corporation by 43.0% in the third quarter. Focused Investors LLC now owns 1,624,900 shares of the media conglomerate’s stock worth $94,244,000 after acquiring an additional 488,700 shares during the last quarter. Eaton Vance Management increased its stake in shares of CBS Corporation by 27.8% in the second quarter. Eaton Vance Management now owns 734,531 shares of the media conglomerate’s stock worth $46,848,000 after acquiring an additional 159,924 shares during the last quarter. PGGM Investments increased its stake in shares of CBS Corporation by 136.1% in the third quarter. PGGM Investments now owns 579,591 shares of the media conglomerate’s stock worth $33,616,000 after acquiring an additional 334,076 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of CBS Corporation by 16.2% in the third quarter. Canada Pension Plan Investment Board now owns 578,900 shares of the media conglomerate’s stock worth $33,576,000 after acquiring an additional 80,600 shares during the last quarter. 74.57% of the stock is currently owned by institutional investors.
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CBS Corporation (CBS) opened at $55.92 on Tuesday. The company has a market cap of $22,706.10, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.02 and a beta of 1.62. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.10 and a current ratio of 1.55. CBS Corporation has a one year low of $52.75 and a one year high of $70.10.
CBS Corporation (NYSE:CBS) last announced its quarterly earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.26 billion. CBS Corporation had a net margin of 2.14% and a return on equity of 58.49%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 earnings per share. equities analysts expect that CBS Corporation will post 4.39 EPS for the current year.
In other news, CEO Leslie Moonves sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $64.68, for a total transaction of $9,702,000.00. Following the completion of the sale, the chief executive officer now owns 1,182,652 shares of the company’s stock, valued at $76,493,931.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gil D. Schwartz sold 54,131 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $58.40, for a total transaction of $3,161,250.40. Following the sale, the executive vice president now directly owns 102,483 shares of the company’s stock, valued at approximately $5,985,007.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 728,317 shares of company stock valued at $30,942,424. Corporate insiders own 2.03% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. BidaskClub raised shares of CBS Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Barclays PLC set a $57.00 price target on shares of CBS Corporation and gave the stock a “hold” rating in a research note on Friday, August 11th. Argus reaffirmed a “buy” rating and issued a $79.00 price target (up from $71.00) on shares of CBS Corporation in a research note on Thursday, August 10th. BMO Capital Markets reaffirmed a “buy” rating and issued a $80.00 price target on shares of CBS Corporation in a research note on Tuesday, August 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $77.00 price target (up from $75.00) on shares of CBS Corporation in a research note on Tuesday, August 8th. Six analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. CBS Corporation has an average rating of “Buy” and a consensus price target of $73.33.
CBS Corporation Company Profile
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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