Ruggie Capital Group maintained its stake in shares of CBS Corporation (NYSE:CBS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,723 shares of the media conglomerate’s stock at the end of the second quarter. Ruggie Capital Group’s holdings in CBS Corporation were worth $110,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Focused Investors LLC purchased a new stake in shares of CBS Corporation during the second quarter worth approximately $72,467,000. Scopus Asset Management L.P. boosted its stake in shares of CBS Corporation by 166.7% in the first quarter. Scopus Asset Management L.P. now owns 1,350,000 shares of the media conglomerate’s stock worth $93,636,000 after buying an additional 843,900 shares in the last quarter. FMR LLC boosted its stake in shares of CBS Corporation by 21.2% in the first quarter. FMR LLC now owns 3,530,274 shares of the media conglomerate’s stock worth $244,860,000 after buying an additional 618,593 shares in the last quarter. BlueCrest Capital Management Ltd boosted its stake in shares of CBS Corporation by 957.7% in the first quarter. BlueCrest Capital Management Ltd now owns 431,485 shares of the media conglomerate’s stock worth $29,928,000 after buying an additional 390,689 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of CBS Corporation during the first quarter worth approximately $26,684,000. Hedge funds and other institutional investors own 75.42% of the company’s stock.

CBS Corporation (NYSE CBS) opened at 65.35 on Thursday. The stock has a 50 day moving average of $64.57 and a 200-day moving average of $64.92. CBS Corporation has a 12 month low of $48.88 and a 12 month high of $70.10. The firm has a market cap of $26.53 billion, a P/E ratio of 53.30 and a beta of 1.71.

CBS Corporation (NYSE:CBS) last announced its quarterly earnings results on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the firm posted $0.93 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. Equities research analysts predict that CBS Corporation will post $4.46 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, September 7th. CBS Corporation’s payout ratio is 211.76%.

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CBS has been the subject of a number of recent analyst reports. Rosenblatt Securities increased their price target on shares of CBS Corporation to $40.00 and gave the company a “neutral” rating in a research note on Monday, April 17th. Needham & Company LLC reissued a “buy” rating and issued a $80.00 price objective on shares of CBS Corporation in a research report on Wednesday, June 28th. BidaskClub raised shares of CBS Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Jefferies Group LLC reissued a “buy” rating and issued a $71.00 price objective on shares of CBS Corporation in a research report on Wednesday, June 14th. Finally, Guggenheim reissued a “buy” rating and issued a $80.00 price objective on shares of CBS Corporation in a research report on Friday, April 14th. Six research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $72.60.

In related news, EVP Gil D. Schwartz sold 5,270 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $65.40, for a total value of $344,658.00. Following the completion of the sale, the executive vice president now owns 60,322 shares of the company’s stock, valued at $3,945,058.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the firm’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $63.78, for a total value of $520,891.26. The disclosure for this sale can be found here. Insiders sold 218,707 shares of company stock valued at $13,961,251 in the last ninety days. 1.67% of the stock is currently owned by insiders.

CBS Corporation 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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Institutional Ownership by Quarter for CBS Corporation (NYSE:CBS)

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