Aviance Capital Management LLC Takes $484,000 Position in CBS Co. (CBS)

Aviance Capital Management LLC bought a new position in shares of CBS Co. (NYSE:CBS) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,081 shares of the media conglomerate’s stock, valued at approximately $484,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CBS. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in shares of CBS during the 4th quarter valued at about $599,000. Canada Pension Plan Investment Board lifted its position in CBS by 50.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 466,687 shares of the media conglomerate’s stock valued at $20,402,000 after buying an additional 155,492 shares during the last quarter. Heritage Trust Co lifted its position in CBS by 2.7% in the fourth quarter. Heritage Trust Co now owns 10,378 shares of the media conglomerate’s stock valued at $454,000 after buying an additional 275 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its position in CBS by 43.5% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 422,194 shares of the media conglomerate’s stock valued at $18,458,000 after buying an additional 127,925 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its position in CBS by 387.6% in the fourth quarter. DAVENPORT & Co LLC now owns 22,090 shares of the media conglomerate’s stock valued at $966,000 after buying an additional 17,560 shares during the last quarter. 74.58% of the stock is currently owned by institutional investors.

Shares of NYSE:CBS opened at $48.24 on Friday. The company has a debt-to-equity ratio of 3.38, a quick ratio of 1.04 and a current ratio of 1.48. The stock has a market cap of $18.16 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 0.66 and a beta of 1.26. CBS Co. has a 1 year low of $41.38 and a 1 year high of $59.59.

CBS (NYSE:CBS) last issued its quarterly earnings results on Thursday, February 14th. The media conglomerate reported $1.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.03). The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.13 billion. CBS had a return on equity of 83.61% and a net margin of 13.50%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. Analysts anticipate that CBS Co. will post 5.66 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.72 dividend on an annualized basis and a yield of 1.49%. CBS’s dividend payout ratio (DPR) is presently 13.87%.

In other CBS news, EVP Jonathan Anschell sold 20,730 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $50.11, for a total transaction of $1,038,780.30. Following the sale, the executive vice president now directly owns 23,358 shares in the company, valued at $1,170,469.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary L. Countryman sold 4,584 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $51.35, for a total transaction of $235,388.40. Following the sale, the director now owns 63,454 shares in the company, valued at $3,258,362.90. The disclosure for this sale can be found here. 0.51% of the stock is owned by corporate insiders.

A number of research analysts have commented on CBS shares. Goldman Sachs Group started coverage on shares of CBS in a research report on Thursday, November 29th. They issued a “neutral” rating and a $59.00 target price on the stock. Atlantic Securities cut shares of CBS from an “overweight” rating to a “neutral” rating and set a $56.00 target price on the stock. in a research report on Monday, February 11th. Moffett Nathanson raised shares of CBS from a “neutral” rating to a “buy” rating in a research report on Thursday, January 17th. BMO Capital Markets reaffirmed a “buy” rating and issued a $63.00 target price on shares of CBS in a research report on Tuesday, February 5th. Finally, Loop Capital decreased their target price on shares of CBS from $68.00 to $59.00 in a research report on Thursday, December 27th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $64.10.

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CBS Profile

CBS Corporation operates as a mass media company worldwide. The company operates in 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 theatrical films; and digital streaming services.

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Institutional Ownership by Quarter for CBS (NYSE:CBS)

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