Gluskin Sheff & Assoc Inc. acquired a new position in shares of CBS Corp. (NYSE:CBS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 445,540 shares of the media conglomerate’s stock, valued at approximately $24,255,000. CBS Corp. accounts for 2.1% of Gluskin Sheff & Assoc Inc.’s holdings, making the stock its 18th largest position. Gluskin Sheff & Assoc Inc. owned about 0.10% of CBS Corp. as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Advisor Partners LLC raised its position in shares of CBS Corp. by 0.7% in the first quarter. Advisor Partners LLC now owns 5,218 shares of the media conglomerate’s stock worth $287,000 after buying an additional 34 shares in the last quarter. Hollencrest Securities LLC raised its position in shares of CBS Corp. by 0.5% in the second quarter. Hollencrest Securities LLC now owns 7,334 shares of the media conglomerate’s stock worth $399,000 after buying an additional 34 shares in the last quarter. Abner Herrman & Brock LLC raised its position in shares of CBS Corp. by 0.7% in the second quarter. Abner Herrman & Brock LLC now owns 7,572 shares of the media conglomerate’s stock worth $436,000 after buying an additional 50 shares in the last quarter. TIAA CREF Trust Co. FSB MO raised its position in shares of CBS Corp. by 0.5% in the second quarter. TIAA CREF Trust Co. FSB MO now owns 10,184 shares of the media conglomerate’s stock worth $554,000 after buying an additional 54 shares in the last quarter. Finally, LS Investment Advisors LLC raised its position in shares of CBS Corp. by 1.1% in the second quarter. LS Investment Advisors LLC now owns 8,334 shares of the media conglomerate’s stock worth $454,000 after buying an additional 87 shares in the last quarter. 76.78% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for CBS Corp. (NYSE:CBS)

CBS Corp. (NYSE:CBS) traded up 1.55% on Wednesday, reaching $56.41. The company’s stock had a trading volume of 5,376,347 shares. The stock’s 50 day moving average price is $52.15 and its 200 day moving average price is $53.75. CBS Corp. has a 12 month low of $41.36 and a 12 month high of $58.22. The company has a market cap of $25.08 billion, a P/E ratio of 16.69 and a beta of 1.81.

CBS Corp. (NYSE:CBS) last announced its quarterly earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.07. The company earned $3.29 billion during the quarter, compared to the consensus estimate of $3.21 billion. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 earnings per share. Equities research analysts forecast that CBS Corp. will post $3.09 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were issued a dividend of $0.18 per share. The ex-dividend date was Wednesday, September 7th. This is an increase from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 annualized dividend and a dividend yield of 1.30%. CBS Corp.’s dividend payout ratio is 21.30%.

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. reissued a “buy” rating on shares of CBS Corp. in a report on Thursday, June 30th. Brean Capital reissued a “buy” rating and set a $65.00 price objective on shares of CBS Corp. in a report on Sunday, July 17th. Zacks Investment Research upgraded CBS Corp. from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Thursday, August 4th. Jefferies Group restated a “buy” rating on shares of CBS Corp. in a research note on Friday, September 30th. Finally, Wells Fargo & Co. downgraded CBS Corp. to a “buy” rating in a research note on Monday, July 11th. Five research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. CBS Corp. currently has an average rating of “Buy” and an average price target of $62.64.

About CBS Corp.

CBS Corporation is a mass media company. The Company’s segments include Entertainment, Cable Networks, Publishing and Local Broadcasting. Its Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Interactive, and CBS Films.

5 Day Chart for NYSE:CBS

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