Teachers Retirement System of The State of Kentucky Has $1.83 Million Stake in Viacom Inc. (NASDAQ:VIAB)
Teachers Retirement System of The State of Kentucky lowered its position in Viacom Inc. (NASDAQ:VIAB) by 7.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,326 shares of the company’s stock after selling 3,300 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Viacom were worth $1,833,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of VIAB. LMR Partners LLP purchased a new stake in shares of Viacom during the first quarter worth approximately $874,000. Wetherby Asset Management Inc. raised its stake in shares of Viacom by 0.7% in the first quarter. Wetherby Asset Management Inc. now owns 7,186 shares of the company’s stock worth $335,000 after buying an additional 53 shares in the last quarter. Stuyvesant Capital Management raised its stake in shares of Viacom by 7.7% in the first quarter. Stuyvesant Capital Management now owns 68,050 shares of the company’s stock worth $3,172,000 after buying an additional 4,850 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Viacom by 7.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,434,293 shares of the company’s stock worth $66,867,000 after buying an additional 101,737 shares in the last quarter. Finally, Korea Investment CORP raised its stake in shares of Viacom by 43.9% in the first quarter. Korea Investment CORP now owns 209,932 shares of the company’s stock worth $9,787,000 after buying an additional 64,022 shares in the last quarter. Institutional investors and hedge funds own 77.33% of the company’s stock.
Viacom Inc. (VIAB) traded up 2.87% during trading on Thursday, hitting $35.07. The stock had a trading volume of 5,524,765 shares. Viacom Inc. has a one year low of $32.68 and a one year high of $46.72. The stock’s 50-day moving average is $34.80 and its 200 day moving average is $39.46. The firm has a market cap of $12.36 billion, a price-to-earnings ratio of 10.08 and a beta of 1.57.
Viacom (NASDAQ:VIAB) last issued its earnings results on Thursday, May 4th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.20. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Viacom had a net margin of 9.32% and a return on equity of 32.00%. Viacom’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 EPS. Equities analysts anticipate that Viacom Inc. will post $3.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a $0.20 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.28%. Viacom’s payout ratio is 26.40%.
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A number of equities research analysts recently commented on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $52.00 target price on shares of Viacom in a research report on Monday, April 17th. J P Morgan Chase & Co restated an “overweight” rating and issued a $48.00 price objective on shares of Viacom in a research report on Monday, June 12th. BidaskClub lowered Viacom from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada lowered their price objective on Viacom from $35.00 to $30.00 and set an “underperform” rating on the stock in a research report on Monday, May 15th. Finally, BMO Capital Markets lowered their price objective on Viacom from $44.00 to $42.00 and set a “market perform” rating on the stock in a research report on Monday, May 15th. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $43.14.
Viacom Inc offers global media brands that create television programs, motion pictures, short-form content, applications, games, consumer products, social media experiences and other entertainment content. As of September 30, 2016, the Company offered its services for audiences in more than 180 countries.
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