New York State Common Retirement Fund decreased its position in shares of CBS Corporation (NYSE:CBS) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 972,328 shares of the media conglomerate’s stock after selling 21,250 shares during the quarter. New York State Common Retirement Fund owned about 0.24% of CBS worth $56,395,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in CBS by 42.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,785 shares of the media conglomerate’s stock worth $118,000 after acquiring an additional 532 shares during the last quarter. Community Trust & Investment Co. lifted its stake in CBS by 1.6% in the third quarter. Community Trust & Investment Co. now owns 128,239 shares of the media conglomerate’s stock valued at $7,438,000 after buying an additional 2,073 shares in the last quarter. Eaton Vance Management lifted its stake in CBS by 27.8% in the second quarter. Eaton Vance Management now owns 734,531 shares of the media conglomerate’s stock valued at $46,848,000 after buying an additional 159,924 shares in the last quarter. Amalgamated Bank lifted its stake in CBS by 53.2% in the second quarter. Amalgamated Bank now owns 42,344 shares of the media conglomerate’s stock valued at $2,701,000 after buying an additional 14,700 shares in the last quarter. Finally, Colony Group LLC lifted its stake in CBS by 8.5% in the second quarter. Colony Group LLC now owns 132,430 shares of the media conglomerate’s stock valued at $8,446,000 after buying an additional 10,394 shares in the last quarter. 74.83% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Gil D. Schwartz sold 54,131 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $58.40, for a total transaction of $3,161,250.40. Following the transaction, the executive vice president now directly owns 102,483 shares in the company, valued at $5,985,007.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Bruce S. Gordon sold 5,093 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $55.50, for a total transaction of $282,661.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 364,317 shares of company stock worth $21,234,894. 2.03% of the stock is owned by corporate insiders.

A number of brokerages have weighed in on CBS. Barclays set a $57.00 price target on shares of CBS and gave the company a “hold” rating in a research note on Friday, August 11th. Argus reaffirmed a “buy” rating and issued a $79.00 price target (up previously from $71.00) on shares of CBS in a research note on Thursday, August 10th. BMO Capital Markets reaffirmed a “buy” rating and issued a $80.00 price target on shares of CBS in a research note on Tuesday, August 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $77.00 price target (up previously from $75.00) on shares of CBS in a research note on Tuesday, August 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 price target on shares of CBS in a research note on Tuesday, August 8th. Six investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $73.33.

CBS Corporation (NYSE:CBS) opened at $58.10 on Wednesday. The firm has a market cap of $24,050.70, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.08 and a beta of 1.62. CBS Corporation has a fifty-two week low of $52.75 and a fifty-two week high of $70.10. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 3.03.

CBS (NYSE:CBS) last issued its earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.04. The business had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.26 billion. CBS had a net margin of 2.14% and a return on equity of 58.49%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 earnings per share. analysts anticipate that CBS Corporation will post 4.39 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Monday, December 11th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $0.72 dividend on an annualized basis and a yield of 1.24%. CBS’s payout ratio is 98.63%.

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

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