Vestor Capital LLC Reduces Holdings in CBS Corporation (CBS)
Vestor Capital LLC cut its position in CBS Corporation (NYSE:CBS) by 56.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,705 shares of the media conglomerate’s stock after selling 37,748 shares during the quarter. Vestor Capital LLC’s holdings in CBS Corporation were worth $1,831,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Glenview Capital Management LLC raised its position in CBS Corporation by 6.7% in the first quarter. Glenview Capital Management LLC now owns 5,471,963 shares of the media conglomerate’s stock valued at $379,535,000 after purchasing an additional 343,424 shares during the last quarter. Alliancebernstein L.P. raised its position in CBS Corporation by 7.1% in the first quarter. Alliancebernstein L.P. now owns 5,393,198 shares of the media conglomerate’s stock valued at $374,072,000 after purchasing an additional 358,785 shares during the last quarter. Geode Capital Management LLC raised its position in CBS Corporation by 3.1% in the first quarter. Geode Capital Management LLC now owns 3,680,166 shares of the media conglomerate’s stock valued at $254,889,000 after purchasing an additional 109,782 shares during the last quarter. FMR LLC raised its position in CBS Corporation by 21.2% in the first quarter. FMR LLC now owns 3,530,274 shares of the media conglomerate’s stock valued at $244,860,000 after purchasing an additional 618,593 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in CBS Corporation by 15.6% in the first quarter. Victory Capital Management Inc. now owns 2,365,683 shares of the media conglomerate’s stock valued at $164,084,000 after purchasing an additional 318,747 shares during the last quarter. Hedge funds and other institutional investors own 75.09% of the company’s stock.
Shares of CBS Corporation (NYSE CBS) traded up 2.52% during trading on Wednesday, reaching $60.30. The company had a trading volume of 1,502,731 shares. The company’s 50 day moving average is $64.69 and its 200-day moving average is $64.82. The stock has a market capitalization of $24.22 billion, a price-to-earnings ratio of 153.44 and a beta of 1.70. CBS Corporation has a 1-year low of $48.88 and a 1-year high of $70.10.
CBS Corporation (NYSE:CBS) last posted its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the company posted $0.93 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts anticipate that CBS Corporation will post $4.46 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.72 dividend on an annualized basis and a yield of 1.22%. CBS Corporation’s payout ratio is 211.76%.
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In other news, EVP Anthony G. Ambrosio sold 8,167 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $65.96, for a total transaction of $538,695.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Leslie Moonves sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $63.79, for a total transaction of $12,758,000.00. Following the sale, the chief executive officer now owns 1,232,652 shares of the company’s stock, valued at approximately $78,630,871.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 376,874 shares of company stock valued at $24,201,946. 2.03% of the stock is owned by insiders.
A number of equities analysts have recently issued reports on CBS shares. Needham & Company LLC restated a “buy” rating and set a $80.00 price objective on shares of CBS Corporation in a research report on Wednesday. BidaskClub upgraded CBS Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $71.00 target price on shares of CBS Corporation in a report on Wednesday, June 14th. Royal Bank Of Canada set a $75.00 price objective on CBS Corporation and gave the company a “buy” rating in a research note on Tuesday, June 6th. Finally, Argus reissued a “buy” rating and issued a $79.00 price objective (up previously from $71.00) on shares of CBS Corporation in a research note on Thursday, August 10th. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $73.44.
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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