CBS Corp. (CBS) Shares Bought by HL Financial Services LLC
HL Financial Services LLC boosted its position in CBS Corp. (NYSE:CBS) by 17.0% during the second quarter, Holdings Channel reports. The institutional investor owned 43,198 shares of the media conglomerate’s stock after buying an additional 6,271 shares during the period. HL Financial Services LLC’s holdings in CBS Corp. were worth $2,352,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Advisor Partners LLC raised its stake in shares of CBS Corp. by 0.7% in the first quarter. Advisor Partners LLC now owns 5,218 shares of the media conglomerate’s stock worth $287,000 after buying an additional 34 shares in the last quarter. Hollencrest Securities LLC raised its stake in shares of CBS Corp. by 0.5% in the second quarter. Hollencrest Securities LLC now owns 7,334 shares of the media conglomerate’s stock worth $399,000 after buying an additional 34 shares in the last quarter. Abner Herrman & Brock LLC raised its stake in shares of CBS Corp. by 0.7% in the second quarter. Abner Herrman & Brock LLC now owns 7,572 shares of the media conglomerate’s stock worth $436,000 after buying an additional 50 shares in the last quarter. TIAA CREF Trust Co. FSB MO raised its stake in shares of CBS Corp. by 0.5% in the second quarter. TIAA CREF Trust Co. FSB MO now owns 10,184 shares of the media conglomerate’s stock worth $554,000 after buying an additional 54 shares in the last quarter. Finally, LS Investment Advisors LLC raised its stake in shares of CBS Corp. by 1.1% in the second quarter. LS Investment Advisors LLC now owns 8,334 shares of the media conglomerate’s stock worth $454,000 after buying an additional 87 shares in the last quarter. 76.78% of the stock is currently owned by hedge funds and other institutional investors.
CBS Corp. (NYSE:CBS) traded up 0.22% during mid-day trading on Wednesday, reaching $50.08. The company’s stock had a trading volume of 7,149,860 shares. CBS Corp. has a 12 month low of $38.51 and a 12 month high of $58.22. The firm has a market capitalization of $22.27 billion, a PE ratio of 14.82 and a beta of 1.89. The stock’s 50-day moving average is $51.91 and its 200-day moving average is $53.73.
CBS Corp. (NYSE:CBS) last announced its earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.07. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same period in the previous year, the company earned $0.74 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that CBS Corp. will post $3.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.44%. This is a positive change from CBS Corp.’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, September 7th. CBS Corp.’s payout ratio is presently 21.30%.
A number of brokerages have recently issued reports on CBS. Brean Capital started coverage on CBS Corp. in a research note on Thursday, July 7th. They issued a “buy” rating and a $65.00 price target on the stock. JPMorgan Chase & Co. reiterated a “buy” rating on shares of CBS Corp. in a research report on Thursday, June 30th. Zacks Investment Research upgraded CBS Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Thursday, August 4th. Guggenheim reiterated a “buy” rating and set a $63.00 price objective on shares of CBS Corp. in a research report on Saturday, September 3rd. Finally, Wells Fargo & Co. downgraded CBS Corp. to a “buy” rating in a research report on Monday, July 11th. Four analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $62.01.
About CBS Corp.
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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