Leslie Moonves Sells 150,000 Shares of CBS Corporation (CBS) Stock
CBS Corporation (NYSE:CBS) CEO Leslie Moonves sold 150,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $64.68, for a total value of $9,702,000.00. Following the completion of the transaction, the chief executive officer now owns 1,182,652 shares in the company, valued at $76,493,931.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Leslie Moonves also recently made the following trade(s):
- On Wednesday, July 12th, Leslie Moonves sold 200,000 shares of CBS Corporation stock. The stock was sold at an average price of $63.79, for a total value of $12,758,000.00.
Shares of CBS Corporation (NYSE:CBS) opened at 63.89 on Friday. The stock has a market cap of $25.66 billion, a PE ratio of 162.57 and a beta of 1.71. CBS Corporation has a 12-month low of $48.88 and a 12-month high of $70.10. The firm has a 50-day moving average price of $65.19 and a 200 day moving average price of $65.04.
CBS Corporation (NYSE:CBS) last announced its quarterly earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.07. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.09 billion. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 EPS. Equities research analysts expect that CBS Corporation will post $4.46 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be issued a $0.18 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.72 annualized dividend and a yield of 1.13%. CBS Corporation’s dividend payout ratio (DPR) is presently 211.76%.
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A number of hedge funds have recently bought and sold shares of the stock. Dupont Capital Management Corp bought a new stake in CBS Corporation during the second quarter valued at $102,000. Israel Discount Bank of New York bought a new stake in CBS Corporation during the first quarter valued at $114,000. Parallel Advisors LLC increased its stake in CBS Corporation by 42.5% in the second quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock valued at $118,000 after buying an additional 532 shares during the period. Ruggie Capital Group bought a new stake in CBS Corporation during the first quarter valued at $120,000. Finally, State of Alaska Department of Revenue bought a new stake in CBS Corporation during the first quarter valued at $157,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.
A number of brokerages have weighed in on CBS. Citigroup Inc. restated a “buy” rating and issued a $76.00 target price (up from $75.00) on shares of CBS Corporation in a research note on Wednesday. Loop Capital restated a “buy” rating and issued a $78.00 target price on shares of CBS Corporation in a research note on Sunday, August 20th. Barclays PLC set a $57.00 target price on CBS Corporation and gave the stock a “hold” rating in a research note on Friday, August 11th. Argus restated a “buy” rating and issued a $79.00 target price (up from $71.00) on shares of CBS Corporation in a research note on Thursday, August 10th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $73.00 target price (up from $71.00) on shares of CBS Corporation in a research note on Wednesday, August 9th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $73.13.
About CBS Corporation
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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