CBS Corporation (CBS) Shares Sold by Nicholas Company Inc.
Nicholas Company Inc. lessened its holdings in shares of CBS Corporation (NYSE:CBS) by 0.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,006,570 shares of the media conglomerate’s stock after selling 90 shares during the period. CBS Corporation accounts for approximately 1.4% of Nicholas Company Inc.’s investment portfolio, making the stock its 19th biggest holding. Nicholas Company Inc. owned approximately 0.25% of CBS Corporation worth $64,199,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of CBS. Dupont Capital Management Corp acquired a new position in CBS Corporation during the second quarter worth approximately $102,000. Israel Discount Bank of New York acquired a new position in CBS Corporation during the first quarter worth approximately $114,000. Parallel Advisors LLC increased its position in CBS Corporation by 42.5% during the second quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock worth $118,000 after buying an additional 532 shares during the period. Ruggie Capital Group acquired a new position in CBS Corporation during the first quarter worth approximately $120,000. Finally, Independent Portfolio Consultants Inc. increased its position in CBS Corporation by 31.4% during the second quarter. Independent Portfolio Consultants Inc. now owns 2,936 shares of the media conglomerate’s stock worth $187,000 after buying an additional 701 shares during the period. 75.09% of the stock is currently owned by institutional investors and hedge funds.
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In other CBS Corporation news, EVP Anthony G. Ambrosio sold 8,167 shares of the company’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $63.78, for a total transaction of $520,891.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gil D. Schwartz sold 54,131 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $58.40, for a total value of $3,161,250.40. Following the sale, the executive vice president now owns 102,483 shares of the company’s stock, valued at $5,985,007.20. The disclosure for this sale can be found here. Insiders have sold 431,005 shares of company stock valued at $27,363,197 over the last 90 days. 1.67% of the stock is currently owned by insiders.
Shares of CBS Corporation (NYSE:CBS) traded up 0.330% on Friday, reaching $58.342. The company had a trading volume of 1,266,959 shares. The firm has a market capitalization of $23.43 billion, a PE ratio of 148.453 and a beta of 1.70. CBS Corporation has a 52-week low of $48.88 and a 52-week high of $70.10. The company has a 50-day moving average price of $64.08 and a 200-day moving average price of $64.68.
CBS Corporation (NYSE:CBS) last announced its quarterly 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. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.09 billion. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 earnings per share. Equities research analysts forecast that CBS Corporation will post $4.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.72 annualized dividend and a yield of 1.24%. CBS Corporation’s dividend payout ratio is presently 211.76%.
CBS has been the topic of several research analyst reports. Royal Bank Of Canada set a $75.00 price target on CBS Corporation and gave the stock a “buy” rating in a research report on Tuesday, June 6th. Guggenheim reaffirmed a “buy” rating and set a $78.00 price target on shares of CBS Corporation in a research report on Tuesday, June 13th. Jefferies Group LLC reaffirmed a “buy” rating and set a $71.00 price target on shares of CBS Corporation in a research report on Wednesday, June 14th. BidaskClub raised CBS Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Finally, Benchmark Co. reissued a “buy” rating and issued a $76.00 target price on shares of CBS Corporation in a report on Friday, June 16th. Seven investment 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 company’s stock. CBS Corporation has a consensus rating of “Buy” and a consensus price target of $73.44.
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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