Enterprise Financial Services Corp decreased its position in CBS Corporation (NYSE:CBS) by 39.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 4,140 shares of the media conglomerate’s stock after selling 2,750 shares during the period. Enterprise Financial Services Corp’s holdings in CBS Corporation were worth $264,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. GSB Wealth Management LLC boosted its position in CBS Corporation by 0.3% in the first quarter. GSB Wealth Management LLC now owns 4,532 shares of the media conglomerate’s stock valued at $314,000 after buying an additional 12 shares during the period. WASHINGTON TRUST Co boosted its position in CBS Corporation by 0.8% in the first quarter. WASHINGTON TRUST Co now owns 4,481 shares of the media conglomerate’s stock valued at $311,000 after buying an additional 37 shares during the period. 1ST Source Bank boosted its position in CBS Corporation by 1.2% in the first quarter. 1ST Source Bank now owns 4,321 shares of the media conglomerate’s stock valued at $300,000 after buying an additional 50 shares during the period. Palladium Partners LLC boosted its position in CBS Corporation by 1.7% in the first quarter. Palladium Partners LLC now owns 3,517 shares of the media conglomerate’s stock valued at $244,000 after buying an additional 60 shares during the period. Finally, Osborn Williams & Donohoe LLC boosted its position in CBS Corporation by 1.0% in the second quarter. Osborn Williams & Donohoe LLC now owns 10,312 shares of the media conglomerate’s stock valued at $658,000 after buying an additional 100 shares during the period. Institutional investors own 74.03% of the company’s stock.
Shares of CBS Corporation (CBS) opened at 65.69 on Friday. The stock’s 50 day moving average price is $65.02 and its 200-day moving average price is $65.03. CBS Corporation has a 12 month low of $48.88 and a 12 month high of $70.10. The firm has a market cap of $26.38 billion, a P/E ratio of 167.15 and a beta of 1.71.
CBS Corporation (NYSE:CBS) last issued its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.07. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.09 billion. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. CBS Corporation’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 earnings per share. Equities research analysts anticipate that CBS Corporation will post $4.46 earnings per share for the current fiscal 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 paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Thursday, September 7th. CBS Corporation’s dividend payout ratio (DPR) is 211.76%.
Several research analysts recently commented on the company. BidaskClub upgraded CBS Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. Royal Bank Of Canada set a $75.00 price objective on CBS Corporation and gave the company a “buy” rating in a report on Tuesday, June 6th. Cowen and Company reissued an “outperform” rating and issued a $70.00 price objective on shares of CBS Corporation in a report on Monday, May 15th. Jefferies Group LLC reissued a “buy” rating and issued a $71.00 price objective on shares of CBS Corporation in a report on Wednesday, June 14th. Finally, Needham & Company LLC boosted their price objective on CBS Corporation from $72.00 to $80.00 and gave the company a “buy” rating in a report on Friday, April 28th. Six equities research 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. The company currently has a consensus rating of “Buy” and an average target price of $72.94.
In related news, EVP Anthony G. Ambrosio sold 8,167 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $63.78, for a total transaction of $520,891.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Leslie Moonves sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $63.79, for a total transaction of $12,758,000.00. Following the transaction, the chief executive officer now directly owns 1,232,652 shares in the company, valued at $78,630,871.08. The disclosure for this sale can be found here. Insiders sold 226,874 shares of company stock worth $14,499,946 over the last ninety days. Insiders own 1.67% of the company’s stock.
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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