CBS Co. (NYSE:CBS) Short Interest Update
CBS Co. (NYSE:CBS) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 10,700,400 shares, a growth of 6.2% from the July 31st total of 10,072,800 shares. Based on an average daily volume of 2,800,000 shares, the short-interest ratio is presently 3.8 days. Currently, 3.3% of the company’s stock are sold short.
A number of institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC grew its position in CBS by 22.3% during the first quarter. Janney Montgomery Scott LLC now owns 17,121 shares of the media conglomerate’s stock valued at $814,000 after buying an additional 3,118 shares during the period. Janus Henderson Group PLC grew its position in CBS by 29.6% during the first quarter. Janus Henderson Group PLC now owns 118,554 shares of the media conglomerate’s stock valued at $5,636,000 after buying an additional 27,081 shares during the period. Comerica Bank grew its position in CBS by 2.1% during the first quarter. Comerica Bank now owns 69,255 shares of the media conglomerate’s stock valued at $3,575,000 after buying an additional 1,400 shares during the period. Bbva Compass Bancshares Inc. acquired a new stake in CBS during the first quarter valued at $203,000. Finally, Stephens Inc. AR grew its position in CBS by 176.1% during the first quarter. Stephens Inc. AR now owns 17,103 shares of the media conglomerate’s stock valued at $813,000 after buying an additional 10,909 shares during the period. Institutional investors and hedge funds own 74.46% of the company’s stock.
CBS stock traded up $0.23 during mid-day trading on Monday, reaching $44.05. 192,781 shares of the company traded hands, compared to its average volume of 4,693,142. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.65 and a quick ratio of 1.14. CBS has a fifty-two week low of $40.65 and a fifty-two week high of $59.56. The company has a market capitalization of $16.26 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 0.69 and a beta of 1.22. The firm’s fifty day moving average is $45.91 and its two-hundred day moving average is $48.72.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.63%. CBS’s payout ratio is 13.87%.
Several equities research analysts have recently weighed in on the stock. TheStreet cut shares of CBS from a “b-” rating to a “c+” rating in a research report on Friday, August 23rd. Citigroup lowered their price target on shares of CBS from $60.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. ValuEngine cut shares of CBS from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 15th. Bank of America raised shares of CBS from a “neutral” rating to a “buy” rating and increased their target price for the company from $58.00 to $63.00 in a research report on Wednesday, August 14th. Finally, BMO Capital Markets cut shares of CBS from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $60.00 to $51.00 in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. CBS has a consensus rating of “Hold” and an average target price of $59.47.
CBS Corporation operates as a mass media company worldwide. The company operates in four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces theatrical films; and digital streaming services.
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