CBS (CBS) Sets New 52-Week Low at $47.47
Shares of CBS Co. (NYSE:CBS) reached a new 52-week low during trading on Thursday . The company traded as low as $47.47 and last traded at $47.91, with a volume of 167274 shares changing hands. The stock had previously closed at $48.66.
A number of analysts recently commented on the company. Imperial Capital reaffirmed a “buy” rating on shares of CBS in a research note on Monday, November 5th. ValuEngine raised CBS from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. Zacks Investment Research lowered CBS from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Royal Bank of Canada increased their price objective on CBS to $70.00 and gave the company a “positive” rating in a research note on Friday, November 2nd. They noted that the move was a valuation call. Finally, Benchmark reissued a “buy” rating and issued a $90.00 price target on shares of CBS in a research note on Friday, November 2nd. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $66.14.
The company has a quick ratio of 1.05, a current ratio of 1.51 and a debt-to-equity ratio of 3.76. The company has a market capitalization of $18.06 billion, a PE ratio of 11.42, a PEG ratio of 0.61 and a beta of 1.19.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Tuesday, December 11th will be issued a $0.18 dividend. The ex-dividend date is Monday, December 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.50%. CBS’s dividend payout ratio (DPR) is 17.18%.
In other news, EVP Anthony G. Ambrosio sold 3,449 shares of the firm’s 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 directly owns 72,702 shares in the company, valued at approximately $4,192,724.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Anthony G. Ambrosio sold 2,234 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $58.16, for a total value of $129,929.44. Following the completion of the transaction, the executive vice president now owns 74,703 shares in the company, valued at $4,344,726.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,380 shares of company stock worth $1,001,762. Company insiders own 0.51% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in shares of CBS by 31.6% in the 3rd quarter. Capital Research Global Investors now owns 32,802,753 shares of the media conglomerate’s stock worth $1,884,518,000 after purchasing an additional 7,877,689 shares during the period. Capital International Investors raised its holdings in shares of CBS by 77.7% during the 3rd quarter. Capital International Investors now owns 3,988,800 shares of the media conglomerate’s stock valued at $229,157,000 after buying an additional 1,744,200 shares during the period. Victory Capital Management Inc. raised its holdings in shares of CBS by 21.3% during the 3rd quarter. Victory Capital Management Inc. now owns 3,234,338 shares of the media conglomerate’s stock valued at $185,813,000 after buying an additional 568,942 shares during the period. FIL Ltd raised its holdings in shares of CBS by 3.4% during the 3rd quarter. FIL Ltd now owns 2,053,844 shares of the media conglomerate’s stock valued at $117,994,000 after buying an additional 67,476 shares during the period. Finally, Primecap Management Co. CA raised its holdings in shares of CBS by 0.4% during the 3rd quarter. Primecap Management Co. CA now owns 1,806,377 shares of the media conglomerate’s stock valued at $103,776,000 after buying an additional 6,320 shares during the period. Institutional investors own 68.78% of the company’s stock.
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About CBS (NYSE:CBS)
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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