Alps Advisors Inc. lessened its holdings in CBS Co. (NYSE:CBS) by 2.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 20,115 shares of the media conglomerate’s stock after selling 404 shares during the period. Alps Advisors Inc.’s holdings in CBS were worth $812,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Thompson Investment Management Inc. lifted its position in shares of CBS by 6.4% in the 3rd quarter. Thompson Investment Management Inc. now owns 142,332 shares of the media conglomerate’s stock worth $5,746,000 after purchasing an additional 8,525 shares during the period. First Trust Advisors LP lifted its position in shares of CBS by 89.6% in the 3rd quarter. First Trust Advisors LP now owns 418,878 shares of the media conglomerate’s stock worth $16,910,000 after purchasing an additional 197,940 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of CBS by 15.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 14,922 shares of the media conglomerate’s stock worth $602,000 after purchasing an additional 2,032 shares during the period. Bartlett & Co. LLC purchased a new stake in shares of CBS in the 3rd quarter worth approximately $40,000. Finally, Tibra Equities Europe Ltd purchased a new stake in shares of CBS in the 3rd quarter worth approximately $2,394,000. 76.99% of the stock is owned by hedge funds and other institutional investors.
CBS stock traded up $1.43 during midday trading on Wednesday, hitting $40.77. 25,446,420 shares of the stock traded hands, compared to its average volume of 3,645,199. The firm has a market cap of $14.74 billion, a P/E ratio of 7.86, a PEG ratio of 0.73 and a beta of 1.21. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.52 and a quick ratio of 1.05. The stock’s fifty day simple moving average is $38.01 and its 200-day simple moving average is $44.43. CBS Co. has a 1-year low of $35.02 and a 1-year high of $53.71.
CBS (NYSE:CBS) last posted its quarterly earnings data on Tuesday, November 12th. The media conglomerate reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.04. The business had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.37 billion. CBS had a net margin of 18.98% and a return on equity of 44.13%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. On average, research analysts predict that CBS Co. will post 4.96 earnings per share for the current year.
CBS has been the subject of a number of analyst reports. Bank of America raised shares of CBS from a “neutral” rating to a “buy” rating and increased their target price for the company from $58.00 to $63.00 in a research report on Wednesday, August 14th. Loop Capital decreased their target price on shares of CBS to $50.00 and set a “buy” rating for the company in a research report on Friday, October 18th. ValuEngine raised shares of CBS from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of CBS in a research note on Tuesday, November 12th. Finally, TheStreet lowered shares of CBS from a “b-” rating to a “c+” rating in a research note on Friday, August 23rd. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. CBS currently has an average rating of “Hold” and a consensus price target of $51.94.
In other news, Director Gary L. Countryman sold 5,093 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $38.89, for a total value of $198,066.77. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.56% of the company’s stock.
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.
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