Oribel Capital Management LP Takes Position in CBS Co. (CBS)
Oribel Capital Management LP acquired a new position in shares of CBS Co. (NYSE:CBS) during the first quarter, Holdings Channel reports. The institutional investor acquired 24,100 shares of the media conglomerate’s stock, valued at approximately $1,671,000.
Other large investors also recently added to or reduced their stakes in the company. GSB Wealth Management LLC increased its stake in CBS by 0.3% in the first quarter. GSB Wealth Management LLC now owns 4,532 shares of the media conglomerate’s stock worth $314,000 after buying an additional 12 shares during the last quarter. Silvercrest Asset Management Group LLC increased its stake in CBS by 0.6% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 5,997 shares of the media conglomerate’s stock worth $382,000 after buying an additional 37 shares during the last quarter. WASHINGTON TRUST Co increased its stake in CBS by 0.8% in the first quarter. WASHINGTON TRUST Co now owns 4,481 shares of the media conglomerate’s stock worth $311,000 after buying an additional 37 shares during the last quarter. 1ST Source Bank increased its stake in CBS by 1.2% in the first quarter. 1ST Source Bank now owns 4,321 shares of the media conglomerate’s stock worth $300,000 after buying an additional 50 shares during the last quarter. Finally, Palladium Partners LLC increased its stake in CBS by 1.7% in the first quarter. Palladium Partners LLC now owns 3,517 shares of the media conglomerate’s stock worth $244,000 after buying an additional 60 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.
Shares of CBS Co. (NYSE CBS) traded up 1.17% during mid-day trading on Friday, hitting $62.23. 3,595,385 shares of the company’s stock traded hands. CBS Co. has a 52 week low of $48.88 and a 52 week high of $70.10. The company has a market cap of $25.26 billion, a PE ratio of 50.76 and a beta of 1.69. The firm has a 50-day moving average of $62.22 and a 200 day moving average of $64.63.
CBS (NYSE:CBS) last issued its quarterly earnings results on Thursday, May 4th. The media conglomerate reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.09. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.29 billion. CBS had a net margin of 14.09% and a return on equity of 55.40%. CBS’s revenue was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.02 earnings per share. Equities research analysts predict that CBS Co. will post $4.47 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Friday, June 9th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Wednesday, June 7th. CBS’s dividend payout ratio is presently 63.72%.
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A number of research firms have weighed in on CBS. Barclays PLC set a $56.00 price objective on CBS and gave the company a “hold” rating in a report on Saturday, February 18th. Instinet lifted their price objective on CBS from $72.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, March 30th. Royal Bank Of Canada set a $75.00 price objective on CBS and gave the company a “buy” rating in a report on Tuesday, June 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $71.00 price objective on shares of CBS in a report on Wednesday. Finally, BidaskClub raised CBS from a “strong sell” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. CBS currently has an average rating of “Buy” and an average price target of $71.17.
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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