Personal Wealth Partners Invests $29,000 in CBS Co. (NYSE:CBS)

Personal Wealth Partners purchased a new position in shares of CBS Co. (NYSE:CBS) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 583 shares of the media conglomerate’s stock, valued at approximately $29,000.

Several other institutional investors have also recently modified their holdings of CBS. Sound Shore Management Inc. CT lifted its holdings in shares of CBS by 26.9% during the 1st quarter. Sound Shore Management Inc. CT now owns 3,672,642 shares of the media conglomerate’s stock worth $174,561,000 after acquiring an additional 779,563 shares during the period. Letko Brosseau & Associates Inc. lifted its stake in CBS by 35.1% in the 1st quarter. Letko Brosseau & Associates Inc. now owns 1,779,282 shares of the media conglomerate’s stock valued at $84,569,000 after purchasing an additional 462,110 shares during the last quarter. Hawkeye Capital Management LLC bought a new position in CBS in the 1st quarter valued at approximately $14,097,000. Polaris Greystone Financial Group LLC lifted its stake in CBS by 144.3% in the 2nd quarter. Polaris Greystone Financial Group LLC now owns 499,709 shares of the media conglomerate’s stock valued at $25,260,000 after purchasing an additional 295,127 shares during the last quarter. Finally, Toronto Dominion Bank lifted its stake in CBS by 116.1% in the 1st quarter. Toronto Dominion Bank now owns 490,382 shares of the media conglomerate’s stock valued at $23,304,000 after purchasing an additional 263,487 shares during the last quarter. 73.20% of the stock is owned by institutional investors.

NYSE CBS traded down $1.91 on Friday, hitting $48.91. The company’s stock had a trading volume of 4,949,556 shares, compared to its average volume of 2,647,496. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.16 and a current ratio of 1.50. CBS Co. has a 1-year low of $41.38 and a 1-year high of $59.56. The stock’s 50-day simple moving average is $51.08. The company has a market capitalization of $19.05 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.78 and a beta of 1.17.

CBS (NYSE:CBS) last announced its quarterly earnings results on Thursday, August 8th. The media conglomerate reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.03. CBS had a net margin of 20.13% and a return on equity of 61.57%. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the prior year, the company posted $1.12 EPS. The company’s revenue was up 9.7% on a year-over-year basis. As a group, research analysts expect that CBS Co. will post 5.51 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Monday, September 9th. CBS’s dividend payout ratio (DPR) is currently 13.87%.

Several brokerages recently commented on CBS. TheStreet raised shares of CBS from a “c+” rating to a “b-” rating in a research note on Tuesday, April 30th. Loop Capital increased their price objective on shares of CBS to $65.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. BMO Capital Markets dropped their price objective on shares of CBS from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday. Barrington Research dropped their price objective on shares of CBS from $72.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. Finally, Wolfe Research raised shares of CBS from a “peer perform” rating to an “outperform” rating in a research note on Thursday, May 30th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $63.25.

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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