CBS Co. (CBS) CEO Leslie Moonves Sells 85,000 Shares
CBS Co. (NYSE:CBS) CEO Leslie Moonves sold 85,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $55.08, for a total value of $4,681,800.00. Following the transaction, the chief executive officer now owns 993,159 shares in the company, valued at $54,703,197.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Leslie Moonves also recently made the following trade(s):
- On Wednesday, January 17th, Leslie Moonves sold 85,000 shares of CBS stock. The shares were sold at an average price of $59.07, for a total value of $5,020,950.00.
- On Tuesday, December 12th, Leslie Moonves sold 85,000 shares of CBS stock. The shares were sold at an average price of $57.85, for a total value of $4,917,250.00.
Shares of CBS Co. (CBS) opened at $53.32 on Friday. CBS Co. has a 1 year low of $50.63 and a 1 year high of $70.10. The firm has a market capitalization of $21,330.00, a PE ratio of 12.55, a P/E/G ratio of 0.77 and a beta of 1.51. The company has a debt-to-equity ratio of 4.78, a quick ratio of 1.12 and a current ratio of 1.58.
The company also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Thursday, March 8th. CBS’s dividend payout ratio (DPR) is presently 16.94%.
Hedge funds have recently added to or reduced their stakes in the stock. Engine Capital Management LLC acquired a new stake in CBS during the third quarter worth about $2,610,000. FNY Managed Accounts LLC acquired a new stake in CBS during the third quarter worth about $2,031,000. Community Trust & Investment Co. grew its position in CBS by 1.6% during the third quarter. Community Trust & Investment Co. now owns 128,239 shares of the media conglomerate’s stock worth $7,438,000 after buying an additional 2,073 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in CBS during the third quarter worth about $1,740,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in CBS during the third quarter worth about $1,469,000. 75.21% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have weighed in on the company. B. Riley cut their target price on CBS from $84.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Royal Bank of Canada set a $71.00 target price on CBS and gave the company a “buy” rating in a report on Saturday, February 17th. Stephens assumed coverage on CBS in a report on Thursday, December 14th. They set an “overweight” rating and a $70.00 target price on the stock. Pivotal Research restated a “hold” rating and set a $64.00 target price on shares of CBS in a report on Friday, February 16th. Finally, Citigroup cut their target price on CBS from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Nine research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $70.83.
CBS Company Profile
CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.
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