Todd Asset Management LLC Increases Position in CBS Corporation (CBS)
Todd Asset Management LLC increased its holdings in CBS Corporation (NYSE:CBS) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 718,344 shares of the company’s stock after purchasing an additional 1,503 shares during the period. CBS Corporation makes up about 1.2% of Todd Asset Management LLC’s investment portfolio, making the stock its 18th largest position. Todd Asset Management LLC owned about 0.18% of CBS Corporation worth $41,664,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Dupont Capital Management Corp bought a new stake in CBS Corporation in the second quarter worth $102,000. Parallel Advisors LLC increased its position in CBS Corporation by 42.5% in the second quarter. Parallel Advisors LLC now owns 1,785 shares of the company’s stock worth $118,000 after purchasing an additional 532 shares during the last quarter. Tocqueville Asset Management L.P. bought a new stake in CBS Corporation in the second quarter worth $205,000. Bridgewater Wealth & Financial Management LLC increased its position in CBS Corporation by 12.3% in the second quarter. Bridgewater Wealth & Financial Management LLC now owns 3,421 shares of the company’s stock worth $218,000 after purchasing an additional 374 shares during the last quarter. Finally, Palladium Partners LLC increased its position in CBS Corporation by 6.8% in the second quarter. Palladium Partners LLC now owns 3,757 shares of the company’s stock worth $240,000 after purchasing an additional 240 shares during the last quarter. Institutional investors own 74.57% of the company’s stock.
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In other CBS Corporation news, CEO Leslie Moonves sold 150,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $64.68, for a total value of $9,702,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,182,652 shares in the company, valued at $76,493,931.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce S. Gordon sold 5,093 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $55.50, for a total transaction of $282,661.50. The disclosure for this sale can be found here. Insiders sold 723,224 shares of company stock valued at $30,650,442 over the last quarter. 2.03% of the stock is currently owned by corporate insiders.
CBS Corporation (NYSE:CBS) traded down $0.99 during trading hours on Monday, reaching $55.75. 17,242,093 shares of the company were exchanged, compared to its average volume of 7,682,605. The stock has a market capitalization of $22,706.10, a price-to-earnings ratio of 13.19, a PEG ratio of 1.02 and a beta of 1.62. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 3.03. CBS Corporation has a 52 week low of $52.75 and a 52 week high of $70.10.
CBS Corporation (NYSE:CBS) last announced its earnings results on Thursday, November 2nd. The company reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.04. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.26 billion. CBS Corporation had a net margin of 2.14% and a return on equity of 58.49%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 earnings per share. sell-side analysts predict that CBS Corporation will post 4.39 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the stock. BMO Capital Markets restated a “buy” rating and issued a $80.00 price target on shares of CBS Corporation in a research report on Tuesday, August 8th. BidaskClub upgraded shares of CBS Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC restated a “buy” rating and issued a $73.00 price target (up previously from $71.00) on shares of CBS Corporation in a research report on Wednesday, August 9th. Argus reiterated a “buy” rating and set a $79.00 price objective (up previously from $71.00) on shares of CBS Corporation in a research report on Thursday, August 10th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $76.00 price objective (up previously from $75.00) on shares of CBS Corporation in a research report on Wednesday, August 23rd. Six analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. CBS Corporation currently has an average rating of “Buy” and a consensus price target of $73.33.
About CBS Corporation
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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