CBS Corporation (NYSE:CBS) Short Interest Down 77.7% in November

CBS Corporation (NYSE:CBS) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 15,429,720 shares, a drop of 77.7% from the November 15th total of 69,281,182 shares. Based on an average daily volume of 12,312,480 shares, the days-to-cover ratio is presently 1.3 days. Currently, 4.4% of the company’s shares are short sold.

In other news, CEO Leslie Moonves sold 85,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $57.85, for a total value of $4,917,250.00. Following the transaction, the chief executive officer now directly owns 884,513 shares in the company, valued at approximately $51,169,077.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles K. Gifford sold 5,093 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $57.33, for a total value of $291,981.69. Following the completion of the transaction, the director now owns 70,273 shares in the company, valued at $4,028,751.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,279 shares of company stock worth $5,794,978. Company insiders own 2.03% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Fred Alger Management Inc. grew its position in shares of CBS by 0.6% in the 2nd quarter. Fred Alger Management Inc. now owns 4,880,086 shares of the media conglomerate’s stock worth $311,252,000 after acquiring an additional 29,986 shares in the last quarter. Sound Shore Management Inc. CT grew its position in shares of CBS by 32.8% in the 3rd quarter. Sound Shore Management Inc. CT now owns 2,440,353 shares of the media conglomerate’s stock worth $141,540,000 after acquiring an additional 603,157 shares in the last quarter. Focused Investors LLC grew its position in shares of CBS by 43.0% in the 3rd quarter. Focused Investors LLC now owns 1,624,900 shares of the media conglomerate’s stock worth $94,244,000 after acquiring an additional 488,700 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of CBS by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,147,664 shares of the media conglomerate’s stock worth $66,565,000 after acquiring an additional 10,212 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in shares of CBS by 0.4% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 751,312 shares of the media conglomerate’s stock worth $43,576,000 after acquiring an additional 2,978 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Shares of CBS (NYSE CBS) traded up $1.12 during midday trading on Thursday, reaching $57.78. The company’s stock had a trading volume of 3,483,080 shares, compared to its average volume of 4,160,000. CBS has a 12-month low of $52.75 and a 12-month high of $70.10. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 3.03. The firm has a market cap of $23,120.00, a price-to-earnings ratio of 16.80, a PEG ratio of 0.91 and a beta of 1.62.

CBS (NYSE:CBS) last issued its quarterly earnings data on Thursday, November 2nd. The media conglomerate reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.26 billion. CBS had a return on equity of 58.49% and a net margin of 2.14%. CBS’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS. equities analysts anticipate that CBS will post 4.4 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Monday, December 11th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, December 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.25%. CBS’s payout ratio is 20.93%.

A number of equities analysts have recently commented on the company. Pivotal Research restated a “hold” rating and issued a $64.00 price objective (up from $62.00) on shares of CBS in a report on Tuesday. Cowen reiterated a “buy” rating on shares of CBS in a report on Thursday, September 21st. Jefferies Group reiterated a “buy” rating and set a $73.00 target price on shares of CBS in a report on Tuesday, October 3rd. Needham & Company LLC reiterated a “buy” rating and set a $80.00 target price on shares of CBS in a report on Wednesday, September 13th. Finally, Piper Jaffray Companies set a $70.00 target price on CBS and gave the company a “buy” rating in a report on Wednesday, January 3rd. Seven research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $72.04.

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CBS 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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