Sompo Japan Nipponkoa Asset Management CO. LTD. Lowers Stake in CBS Co. (CBS)

Sompo Japan Nipponkoa Asset Management CO. LTD. reduced its position in CBS Co. (NYSE:CBS) by 3.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 123,500 shares of the media conglomerate’s stock after selling 4,660 shares during the period. CBS accounts for 1.5% of Sompo Japan Nipponkoa Asset Management CO. LTD.’s investment portfolio, making the stock its 23rd biggest holding. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in CBS were worth $7,095,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cannell Peter B & Co. Inc. increased its stake in shares of CBS by 3.7% in the 3rd quarter. Cannell Peter B & Co. Inc. now owns 316,692 shares of the media conglomerate’s stock valued at $18,194,000 after buying an additional 11,389 shares during the period. Chicago Partners Investment Group LLC increased its stake in shares of CBS by 95.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,257 shares of the media conglomerate’s stock valued at $122,000 after buying an additional 1,100 shares during the period. Becker Capital Management Inc. increased its stake in shares of CBS by 1.5% in the 3rd quarter. Becker Capital Management Inc. now owns 440,400 shares of the media conglomerate’s stock valued at $25,301,000 after buying an additional 6,650 shares during the period. Icon Advisers Inc. Co. increased its stake in shares of CBS by 11.1% in the 3rd quarter. Icon Advisers Inc. Co. now owns 28,000 shares of the media conglomerate’s stock valued at $1,609,000 after buying an additional 2,800 shares during the period. Finally, Gulf International Bank UK Ltd increased its stake in shares of CBS by 3.1% in the 3rd quarter. Gulf International Bank UK Ltd now owns 109,291 shares of the media conglomerate’s stock valued at $6,278,000 after buying an additional 3,300 shares during the period. 74.82% of the stock is owned by institutional investors.

CBS stock opened at $58.09 on Friday. The company has a debt-to-equity ratio of 3.76, a quick ratio of 1.05 and a current ratio of 1.51. The stock has a market cap of $21.73 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 0.74 and a beta of 1.19. CBS Co. has a 1-year low of $47.54 and a 1-year high of $61.59.

CBS (NYSE:CBS) last posted its earnings results on Thursday, November 1st. The media conglomerate reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.02. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. CBS had a return on equity of 86.51% and a net margin of 9.42%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 earnings per share. Analysts predict that CBS Co. will post 5.25 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Tuesday, December 11th will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, December 10th. This represents a $0.72 annualized dividend and a yield of 1.24%. CBS’s dividend payout ratio is presently 17.18%.

Several research analysts have recently issued reports on CBS shares. Barrington Research restated a “buy” rating and issued a $71.00 price target on shares of CBS in a research report on Monday, August 6th. ValuEngine lowered CBS from a “sell” rating to a “strong sell” rating in a research report on Monday, July 30th. Morgan Stanley restated an “equal weight” rating and issued a $65.00 price target on shares of CBS in a research report on Monday, October 15th. UBS Group lowered CBS from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $72.00 to $60.00 in a research report on Monday, September 10th. Finally, Imperial Capital raised their price target on CBS from $71.00 to $76.00 and gave the stock an “outperform” rating in a research report on Friday, November 2nd. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $66.51.

In other CBS news, EVP Anthony G. Ambrosio sold 2,234 shares of CBS stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $58.16, for a total transaction of $129,929.44. Following the transaction, the executive vice president now directly owns 74,703 shares in the company, valued at $4,344,726.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Anthony G. Ambrosio sold 3,449 shares of CBS stock in a transaction dated Tuesday, October 9th. The stock was sold at an average price of $57.67, for a total value of $198,903.83. Following the transaction, the executive vice president now owns 72,702 shares in the company, valued at $4,192,724.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,480 shares of company stock worth $1,117,598. Corporate insiders own 1.80% of the company’s stock.

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CBS 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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Institutional Ownership by Quarter for CBS (NYSE:CBS)

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