Douglass Winthrop Advisors LLC continued to hold its stake in CBS Corporation (NYSE:CBS) during the second quarter, Holdings Channel reports. The firm owned 6,400 shares of the media conglomerate’s stock at the end of the second quarter. Douglass Winthrop Advisors LLC’s holdings in CBS Corporation were worth $408,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of CBS. Bridgewater Wealth & Financial Management LLC raised its stake in shares of CBS Corporation by 12.3% in the second quarter. Bridgewater Wealth & Financial Management LLC now owns 3,421 shares of the media conglomerate’s stock valued at $218,000 after buying an additional 374 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of CBS Corporation by 1.7% in the second quarter. SG Americas Securities LLC now owns 53,498 shares of the media conglomerate’s stock valued at $3,412,000 after buying an additional 880 shares in the last quarter. Dowling & Yahnke LLC raised its stake in shares of CBS Corporation by 4.1% in the second quarter. Dowling & Yahnke LLC now owns 7,905 shares of the media conglomerate’s stock valued at $504,000 after buying an additional 314 shares in the last quarter. Dupont Capital Management Corp bought a new stake in shares of CBS Corporation during the second quarter valued at $102,000. Finally, Canada Pension Plan Investment Board raised its stake in shares of CBS Corporation by 59.8% in the second quarter. Canada Pension Plan Investment Board now owns 498,300 shares of the media conglomerate’s stock valued at $31,782,000 after buying an additional 186,527 shares in the last quarter. 74.03% of the stock is currently owned by institutional investors and hedge funds.
CBS Corporation (NYSE:CBS) opened at 64.80 on Friday. The firm has a market cap of $26.03 billion, a price-to-earnings ratio of 164.89 and a beta of 1.71. CBS Corporation has a 52-week low of $48.88 and a 52-week high of $70.10. The company has a 50 day moving average price of $65.06 and a 200-day moving average price of $65.03.
CBS Corporation (NYSE:CBS) last announced its quarterly earnings data on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the previous year, the firm earned $0.93 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that CBS Corporation will post $4.46 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.11%. CBS Corporation’s dividend payout ratio (DPR) is presently 211.76%.
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Several equities research analysts have weighed in on the company. BidaskClub raised CBS Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Royal Bank Of Canada set a $75.00 target price on CBS Corporation and gave the stock a “buy” rating in a research report on Tuesday, June 6th. Cowen and Company reaffirmed an “outperform” rating and issued a $70.00 target price on shares of CBS Corporation in a research report on Monday, May 15th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $71.00 target price on shares of CBS Corporation in a research report on Wednesday, June 14th. Finally, Needham & Company LLC increased their target price on CBS Corporation from $72.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Six analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $72.94.
In related news, EVP Gil D. Schwartz sold 5,270 shares of CBS Corporation stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $64.08, for a total transaction of $337,701.60. Following the completion of the sale, the executive vice president now directly owns 60,322 shares of the company’s stock, valued at $3,865,433.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Anthony G. Ambrosio sold 8,167 shares of CBS Corporation stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $65.96, for a total value of $538,695.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 226,874 shares of company stock valued at $14,499,946. 1.67% of the stock is owned by insiders.
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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