Public Employees Retirement Association of Colorado trimmed its stake in shares of CBS Co. (NYSE:CBS) by 9.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,026 shares of the media conglomerate’s stock after selling 6,018 shares during the period. Public Employees Retirement Association of Colorado’s holdings in CBS were worth $3,136,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Parsons Capital Management Inc. RI grew its position in shares of CBS by 10.5% in the 4th quarter. Parsons Capital Management Inc. RI now owns 10,544 shares of the media conglomerate’s stock worth $622,000 after buying an additional 1,005 shares during the last quarter. Dowling & Yahnke LLC lifted its stake in CBS by 15.1% during the 1st quarter. Dowling & Yahnke LLC now owns 8,202 shares of the media conglomerate’s stock valued at $422,000 after acquiring an additional 1,074 shares during the period. Osborn Williams & Donohoe LLC lifted its stake in shares of CBS by 11.1% in the 4th quarter. Osborn Williams & Donohoe LLC now owns 10,986 shares of the media conglomerate’s stock valued at $648,000 after purchasing an additional 1,095 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of CBS by 5.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 28,372 shares of the media conglomerate’s stock valued at $1,674,000 after purchasing an additional 1,437 shares during the period. Finally, Ellington Management Group LLC lifted its stake in shares of CBS by 37.0% in the 4th quarter. Ellington Management Group LLC now owns 6,300 shares of the media conglomerate’s stock valued at $372,000 after purchasing an additional 1,700 shares during the period. 77.91% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Leslie Moonves sold 85,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 20th. The stock was sold at an average price of $50.46, for a total transaction of $4,289,100.00. Following the sale, the chief executive officer now directly owns 915,531 shares of the company’s stock, valued at approximately $46,197,694.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 330,000 shares of company stock worth $17,174,900. Corporate insiders own 1.80% of the company’s stock.
CBS traded up $0.80 during midday trading on Friday, hitting $52.41. The company’s stock had a trading volume of 107,263 shares, compared to its average volume of 4,137,209. The company has a debt-to-equity ratio of 4.78, a current ratio of 1.52 and a quick ratio of 1.13. CBS Co. has a 52-week low of $53.76 and a 52-week high of $54.58. The stock has a market capitalization of $20.40 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 0.73 and a beta of 1.49.
CBS (NYSE:CBS) last released its quarterly earnings results on Thursday, May 3rd. The media conglomerate reported $1.34 EPS for the quarter, topping the consensus estimate of $1.19 by $0.15. CBS had a return on equity of 77.15% and a net margin of 7.94%. The firm had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the previous year, the company posted $1.04 EPS. CBS’s revenue for the quarter was up 12.5% on a year-over-year basis. equities research analysts anticipate that CBS Co. will post 5.24 earnings per share for the current year.
CBS Company Profile
CBS Corporation operates as a mass media company worldwide. The company operates through 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, acquires, and distributes theatrical motion pictures; and digital streaming services.
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