Olstein Capital Management L.P. Has $6.55 Million Stake in Viacom Inc. (VIAB)
Olstein Capital Management L.P. raised its stake in Viacom Inc. (NASDAQ:VIAB) by 25.9% during the second quarter, Holdings Channel reports. The firm owned 195,100 shares of the company’s stock after buying an additional 40,100 shares during the period. Olstein Capital Management L.P.’s holdings in Viacom were worth $6,550,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in Viacom by 3,068.5% in the first quarter. BlackRock Inc. now owns 21,485,851 shares of the company’s stock valued at $1,001,671,000 after buying an additional 20,807,733 shares during the period. Wellington Management Group LLP boosted its stake in Viacom by 3,113.9% in the first quarter. Wellington Management Group LLP now owns 20,233,146 shares of the company’s stock valued at $943,269,000 after buying an additional 19,603,597 shares during the period. State Street Corp boosted its stake in Viacom by 1.4% in the first quarter. State Street Corp now owns 15,523,719 shares of the company’s stock valued at $723,729,000 after buying an additional 207,253 shares during the period. FMR LLC boosted its stake in Viacom by 36.1% in the first quarter. FMR LLC now owns 9,311,109 shares of the company’s stock valued at $434,084,000 after buying an additional 2,467,925 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in Viacom by 23.4% in the first quarter. TIAA CREF Investment Management LLC now owns 4,752,876 shares of the company’s stock valued at $221,579,000 after buying an additional 900,264 shares during the period. Institutional investors and hedge funds own 77.96% of the company’s stock.
Shares of Viacom Inc. (NASDAQ:VIAB) opened at 30.23 on Tuesday. The stock’s 50 day moving average price is $33.91 and its 200-day moving average price is $38.88. Viacom Inc. has a 12 month low of $29.65 and a 12 month high of $46.72. The stock has a market capitalization of $12.16 billion, a price-to-earnings ratio of 8.32 and a beta of 1.57.
Viacom (NASDAQ:VIAB) last released its earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.12. The firm had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.29 billion. Viacom had a net margin of 11.04% and a return on equity of 30.89%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 EPS. Equities analysts forecast that Viacom Inc. will post $3.87 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Thursday, September 14th. Viacom’s dividend payout ratio is 21.98%.
Several equities research analysts have recently issued reports on VIAB shares. Zacks Investment Research upgraded Viacom from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and set a $52.00 price objective on shares of Viacom in a report on Monday, April 17th. J P Morgan Chase & Co restated an “overweight” rating and set a $48.00 price objective on shares of Viacom in a report on Monday, June 12th. Barclays PLC set a $37.00 price objective on Viacom and gave the stock an “equal weight” rating in a report on Friday, August 4th. Finally, Sanford C. Bernstein restated an “underperform” rating and set a $29.00 price objective on shares of Viacom in a report on Friday, June 16th. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $42.14.
Viacom Inc offers global media brands that create television programs, motion pictures, short-form content, applications, games, consumer products, social media experiences and other entertainment content. As of September 30, 2016, the Company offered its services for audiences in more than 180 countries.
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