CBS Corporation (CBS) Position Decreased by Colony Group LLC
Colony Group LLC reduced its stake in shares of CBS Corporation (NYSE:CBS) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,986 shares of the media conglomerate’s stock after selling 1,444 shares during the quarter. Colony Group LLC’s holdings in CBS were worth $7,597,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of CBS. Dupont Capital Management Corp bought a new stake in shares of CBS during the second quarter valued at about $102,000. Dowling & Yahnke LLC raised its stake in shares of CBS by 4.1% during the second quarter. Dowling & Yahnke LLC now owns 7,905 shares of the media conglomerate’s stock valued at $504,000 after purchasing an additional 314 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of CBS by 1.7% during the second quarter. SG Americas Securities LLC now owns 53,498 shares of the media conglomerate’s stock valued at $3,412,000 after purchasing an additional 880 shares in the last quarter. Bridgewater Wealth & Financial Management LLC raised its stake in shares of CBS by 12.3% during the second quarter. Bridgewater Wealth & Financial Management LLC now owns 3,421 shares of the media conglomerate’s stock valued at $218,000 after purchasing an additional 374 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in shares of CBS by 13.0% during the second quarter. Blair William & Co. IL now owns 8,779 shares of the media conglomerate’s stock valued at $560,000 after purchasing an additional 1,013 shares in the last quarter. Institutional investors and hedge funds own 74.83% of the company’s stock.
CBS Corporation (NYSE CBS) opened at $57.68 on Tuesday. The firm has a market capitalization of $22,994.23, a PE ratio of 13.36, a P/E/G ratio of 1.03 and a beta of 1.62. CBS Corporation has a 12 month low of $52.75 and a 12 month high of $70.10. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.55 and a quick ratio of 1.10.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Monday, December 11th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, December 8th. This represents a $0.72 annualized dividend and a yield of 1.25%. CBS’s dividend payout ratio (DPR) is presently 98.63%.
In other CBS news, Director Arnold Kopelson sold 5,093 shares of CBS stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $59.51, for a total transaction of $303,084.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Leslie Moonves sold 150,000 shares of CBS stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $57.62, for a total value of $8,643,000.00. Following the transaction, the chief executive officer now directly owns 1,182,652 shares in the company, valued at approximately $68,144,408.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 315,279 shares of company stock worth $18,376,728. Company insiders own 2.03% of the company’s stock.
Several equities research analysts have commented on CBS shares. Cowen reiterated a “buy” rating on shares of CBS in a research report on Thursday, September 21st. B. Riley reiterated a “buy” rating on shares of CBS in a research report on Friday, November 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $80.00 price target on shares of CBS in a research report on Wednesday, September 20th. Zacks Investment Research upgraded shares of CBS from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price target (down from $80.00) on shares of CBS in a research report on Friday, November 3rd. Six investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $73.29.
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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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