SG Americas Securities LLC cut its holdings in CBS Co. (NYSE:CBS) by 12.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 179,869 shares of the media conglomerate’s stock after selling 24,905 shares during the period. SG Americas Securities LLC’s holdings in CBS were worth $7,261,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CBS. Ellevest Inc. acquired a new stake in shares of CBS during the 2nd quarter worth $25,000. Whitener Capital Management Inc. increased its holdings in shares of CBS by 57.1% during the 2nd quarter. Whitener Capital Management Inc. now owns 550 shares of the media conglomerate’s stock worth $27,000 after buying an additional 200 shares during the last quarter. Carroll Financial Associates Inc. increased its holdings in shares of CBS by 96.5% during the 2nd quarter. Carroll Financial Associates Inc. now owns 560 shares of the media conglomerate’s stock worth $27,000 after buying an additional 275 shares during the last quarter. Personal Wealth Partners acquired a new stake in shares of CBS during the 2nd quarter worth $29,000. Finally, NEXT Financial Group Inc increased its holdings in shares of CBS by 70.2% during the 2nd quarter. NEXT Financial Group Inc now owns 594 shares of the media conglomerate’s stock worth $30,000 after buying an additional 245 shares during the last quarter. Institutional investors own 73.95% of the company’s stock.

CBS stock traded up $0.31 during trading on Friday, reaching $38.11. 3,651,502 shares of the company’s stock were exchanged, compared to its average volume of 3,338,688. The company’s 50-day moving average is $38.20 and its two-hundred day moving average is $45.76. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.14 and a current ratio of 1.65. CBS Co. has a 52-week low of $35.02 and a 52-week high of $58.38. The firm has a market cap of $14.05 billion, a price-to-earnings ratio of 7.34, a PEG ratio of 0.63 and a beta of 1.17.

CBS (NYSE:CBS) last announced its quarterly earnings results on Thursday, August 8th. The media conglomerate reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03. CBS had a net margin of 20.13% and a return on equity of 55.03%. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the prior year, the company earned $1.12 EPS. The firm’s revenue was up 9.7% on a year-over-year basis. Analysts anticipate that CBS Co. will post 5.11 EPS for the current year.

A number of analysts have recently commented on the company. UBS Group set a $54.00 price objective on CBS and gave the stock a “hold” rating in a report on Friday, August 9th. Loop Capital dropped their price objective on CBS to $50.00 and set a “buy” rating for the company in a report on Friday, October 18th. Barrington Research restated a “buy” rating and set a $47.00 price objective on shares of CBS in a report on Tuesday, November 5th. Benchmark dropped their price objective on CBS from $68.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, Wells Fargo & Co dropped their price objective on CBS from $40.00 to $31.00 and set an “underperform” rating for the company in a report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $51.50.

CBS Profile

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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Institutional Ownership by Quarter for CBS (NYSE:CBS)

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