Systematic Financial Management LP decreased its position in CBS Corporation (NYSE:CBS) by 64.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 168,790 shares of the media conglomerate’s stock after selling 304,679 shares during the period. Systematic Financial Management LP’s holdings in CBS Corporation were worth $10,738,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. NEXT Financial Group Inc increased its stake in shares of CBS Corporation by 295.0% in the third quarter. NEXT Financial Group Inc now owns 2,773 shares of the media conglomerate’s stock worth $152,000 after buying an additional 2,071 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in shares of CBS Corporation by 114.5% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 3,052 shares of the media conglomerate’s stock worth $167,000 after buying an additional 1,629 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of CBS Corporation during the fourth quarter worth about $230,000. Telos Capital Management Inc. increased its stake in shares of CBS Corporation by 1.0% in the third quarter. Telos Capital Management Inc. now owns 3,966 shares of the media conglomerate’s stock worth $217,000 after buying an additional 40 shares in the last quarter. Finally, YHB Investment Advisors Inc. bought a new stake in shares of CBS Corporation during the third quarter worth about $222,000. 78.18% of the stock is currently owned by institutional investors and hedge funds.
CBS Corporation (NYSE:CBS) traded down 0.14% during trading on Friday, hitting $65.33. 3,694,052 shares of the company’s stock traded hands. The company’s 50 day moving average is $64.01 and its 200-day moving average is $58.08. The stock has a market cap of $28.07 billion, a P/E ratio of 18.35 and a beta of 1.66. CBS Corporation has a 12 month low of $44.90 and a 12 month high of $66.88.
CBS Corporation (NYSE:CBS) last issued its quarterly earnings data on Wednesday, February 15th. The media conglomerate reported $1.11 EPS for the quarter, beating the consensus estimate of $1.10 by $0.01. The firm earned $3.52 billion during the quarter, compared to the consensus estimate of $4.03 billion. CBS Corporation had a net margin of 11.32% and a return on equity of 33.06%. On average, analysts predict that CBS Corporation will post $4.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Friday, March 10th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Wednesday, March 8th. CBS Corporation’s dividend payout ratio (DPR) is 20.17%.
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A number of equities research analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of CBS Corporation in a research report on Thursday. J P Morgan Chase & Co reissued a “buy” rating and set a $69.00 price target on shares of CBS Corporation in a research report on Friday, November 4th. BMO Capital Markets reissued a “buy” rating and set a $73.00 price target on shares of CBS Corporation in a research report on Thursday. RBC Capital Markets reissued a “buy” rating and set a $70.00 price target on shares of CBS Corporation in a research report on Thursday. Finally, Royal Bank Of Canada increased their price target on CBS Corporation from $70.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. CBS Corporation presently has an average rating of “Buy” and an average target price of $68.22.
About CBS Corporation
CBS Corporation is a mass media company. The Company’s segments include Entertainment, Cable Networks, Publishing and Local Broadcasting. Its Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Interactive, and CBS Films.
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