SG Americas Securities LLC Boosts Position in CBS Corporation (CBS)
SG Americas Securities LLC raised its stake in shares of CBS Corporation (NYSE:CBS) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,498 shares of the media conglomerate’s stock after buying an additional 880 shares during the period. SG Americas Securities LLC’s holdings in CBS Corporation were worth $3,412,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. GSB Wealth Management LLC raised its stake in CBS Corporation by 0.3% in the first quarter. GSB Wealth Management LLC now owns 4,532 shares of the media conglomerate’s stock valued at $314,000 after buying an additional 12 shares in the last quarter. WASHINGTON TRUST Co raised its stake in CBS Corporation by 0.8% in the first quarter. WASHINGTON TRUST Co now owns 4,481 shares of the media conglomerate’s stock valued at $311,000 after buying an additional 37 shares in the last quarter. 1ST Source Bank raised its stake in CBS Corporation by 1.2% in the first quarter. 1ST Source Bank now owns 4,321 shares of the media conglomerate’s stock valued at $300,000 after buying an additional 50 shares in the last quarter. Palladium Partners LLC raised its stake in CBS Corporation by 1.7% in the first quarter. Palladium Partners LLC now owns 3,517 shares of the media conglomerate’s stock valued at $244,000 after buying an additional 60 shares in the last quarter. Finally, Osborn Williams & Donohoe LLC raised its stake in CBS Corporation by 1.0% in the second quarter. Osborn Williams & Donohoe LLC now owns 10,312 shares of the media conglomerate’s stock valued at $658,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 74.03% of the company’s stock.
CBS Corporation (NYSE:CBS) opened at 64.80 on Monday. The stock has a market cap of $26.03 billion, a P/E ratio of 164.89 and a beta of 1.71. CBS Corporation has a 52 week low of $48.88 and a 52 week high of $70.10. The stock has a 50 day moving average of $65.06 and a 200-day moving average of $65.03.
CBS Corporation (NYSE:CBS) last posted its earnings results on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.07. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the firm posted $0.93 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts forecast that CBS Corporation will post $4.46 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, September 7th. CBS Corporation’s payout ratio is 211.76%.
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A number of analysts recently issued reports on CBS shares. BidaskClub upgraded shares of CBS Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Loop Capital restated a “buy” rating and set a $78.00 target price on shares of CBS Corporation in a research report on Sunday. Royal Bank Of Canada set a $75.00 target price on shares of CBS Corporation and gave the stock a “buy” rating in a research report on Tuesday, June 6th. Cowen and Company restated an “outperform” rating and set a $70.00 target price on shares of CBS Corporation in a research report on Monday, May 15th. Finally, Jefferies Group LLC restated a “buy” rating and set a $71.00 target price on shares of CBS Corporation in a research report on Wednesday, June 14th. Six research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. CBS Corporation currently has a consensus rating of “Buy” and an average price target of $73.02.
In other news, CEO Leslie Moonves sold 200,000 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $63.79, for a total value of $12,758,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,232,652 shares in the company, valued at $78,630,871.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gil D. Schwartz sold 5,270 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $64.08, for a total transaction of $337,701.60. Following the completion of the sale, the executive vice president now owns 60,322 shares of the company’s stock, valued at $3,865,433.76. The disclosure for this sale can be found here. Insiders sold 226,874 shares of company stock valued at $14,499,946 over the last 90 days. 2.03% of the stock is owned by corporate insiders.
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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