Ferguson Wellman Capital Management Inc. Buys 44,808 Shares of CBS Co. (CBS)
Ferguson Wellman Capital Management Inc. boosted its stake in shares of CBS Co. (NYSE:CBS) by 10.6% in the 1st quarter, HoldingsChannel reports. The fund owned 467,002 shares of the media conglomerate’s stock after buying an additional 44,808 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in CBS were worth $22,197,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. Campbell Newman Asset Management Inc. grew its holdings in CBS by 4.0% in the first quarter. Campbell Newman Asset Management Inc. now owns 5,186 shares of the media conglomerate’s stock valued at $246,000 after purchasing an additional 198 shares during the period. Heritage Trust Co boosted its stake in shares of CBS by 2.7% in the fourth quarter. Heritage Trust Co now owns 10,378 shares of the media conglomerate’s stock worth $454,000 after acquiring an additional 275 shares during the last quarter. Regent Investment Management LLC boosted its stake in shares of CBS by 2.1% in the fourth quarter. Regent Investment Management LLC now owns 14,437 shares of the media conglomerate’s stock worth $631,000 after acquiring an additional 300 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of CBS by 21.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,750 shares of the media conglomerate’s stock worth $77,000 after acquiring an additional 307 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of CBS by 0.7% in the fourth quarter. Nuveen Asset Management LLC now owns 54,028 shares of the media conglomerate’s stock worth $2,362,000 after acquiring an additional 350 shares during the last quarter. Institutional investors own 75.70% of the company’s stock.
A number of analysts have recently issued reports on the company. Barrington Research reaffirmed a “buy” rating and issued a $72.00 price target on shares of CBS in a research note on Monday, February 4th. TheStreet lowered CBS from a “b-” rating to a “c+” rating in a research note on Monday, December 31st. Moffett Nathanson raised CBS from a “neutral” rating to a “buy” rating in a research note on Thursday, January 17th. Benchmark lowered their price target on CBS from $90.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, February 13th. Finally, Atlantic Securities lowered CBS from an “overweight” rating to a “neutral” rating and set a $56.00 price target on the stock. in a research note on Monday, February 11th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $64.28.
CBS (NYSE:CBS) last released its quarterly earnings data on Thursday, February 14th. The media conglomerate reported $1.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.03). The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.13 billion. CBS had a return on equity of 83.61% and a net margin of 13.50%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $1.20 EPS. Equities analysts anticipate that CBS Co. will post 5.65 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Friday, March 8th. CBS’s dividend payout ratio (DPR) is currently 13.87%.
In other CBS news, Director Gary L. Countryman sold 4,584 shares of the business’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $51.35, for a total transaction of $235,388.40. Following the transaction, the director now owns 63,454 shares of the company’s stock, valued at $3,258,362.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Anschell sold 20,730 shares of the business’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $50.11, for a total value of $1,038,780.30. Following the transaction, the executive vice president now directly owns 23,358 shares in the company, valued at approximately $1,170,469.38. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.
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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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