Point72 Asset Management L.P. acquired a new position in CBS Corporation (NYSE:CBS) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 385,229 shares of the media conglomerate’s stock, valued at approximately $26,719,000. Point72 Asset Management L.P. owned 0.09% of CBS Corporation as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of CBS. Israel Discount Bank of New York acquired a new position in shares of CBS Corporation during the first quarter worth about $114,000. Ruggie Capital Group acquired a new position in shares of CBS Corporation during the first quarter worth about $120,000. State of Alaska Department of Revenue acquired a new position in shares of CBS Corporation during the first quarter worth about $157,000. Holderness Investments Co. acquired a new position in shares of CBS Corporation during the first quarter worth about $203,000. Finally, Granite Investment Partners LLC acquired a new position in shares of CBS Corporation during the first quarter worth about $212,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.
CBS Corporation (NYSE:CBS) traded down 0.19% during trading on Friday, reaching $67.43. The company’s stock had a trading volume of 1,523,810 shares. The company’s 50-day moving average is $63.76 and its 200-day moving average is $64.79. The company has a market capitalization of $27.37 billion, a P/E ratio of 55.00 and a beta of 1.70. CBS Corporation has a 1-year low of $48.88 and a 1-year high of $70.10.
CBS Corporation (NYSE:CBS) last released its quarterly earnings data 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 the consensus estimate of $3.29 billion. CBS Corporation had a return on equity of 41.55% and a net margin of 3.96%. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period last year, the business posted $1.02 EPS. Equities analysts anticipate that CBS Corporation will post $4.44 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.07%. CBS Corporation’s dividend payout ratio (DPR) is 63.72%.
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A number of brokerages have recently issued reports on CBS. BidaskClub upgraded CBS Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday. Benchmark Co. increased their target price on CBS Corporation from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, May 5th. Jefferies Group LLC restated a “buy” rating and issued a $71.00 price objective on shares of CBS Corporation in a report on Monday, July 10th. Pivotal Research restated a “hold” rating and issued a $67.00 price objective on shares of CBS Corporation in a report on Sunday, April 23rd. Finally, Cowen and Company restated an “outperform” rating and issued a $70.00 price objective on shares of CBS Corporation in a report on Monday, May 15th. Six research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $71.34.
In other news, CEO Leslie Moonves sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $63.79, for a total value of $12,758,000.00. Following the transaction, the chief executive officer now directly owns 1,232,652 shares in the company, valued at approximately $78,630,871.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Anthony G. Ambrosio sold 8,167 shares of the firm’s stock in a transaction dated 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. Over the last 90 days, insiders sold 213,437 shares of company stock worth $13,616,593. Company insiders own 1.67% of the company’s stock.
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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