CBS (NYSE:CBS) had its price objective trimmed by B. Riley from $84.00 to $73.00 in a research note published on Friday morning, Marketbeat reports. The firm currently has a buy rating on the media conglomerate’s stock.
Other research analysts have also recently issued research reports about the company. Pivotal Research reaffirmed a hold rating and set a $64.00 target price on shares of CBS in a research note on Friday. Stephens cut CBS from an overweight rating to an equal weight rating and cut their target price for the company from $72.00 to $64.00 in a research note on Monday, January 22nd. Piper Jaffray Companies set a $70.00 target price on CBS and gave the company a buy rating in a research note on Wednesday, January 3rd. ValuEngine cut CBS from a buy rating to a hold rating in a research note on Friday, February 2nd. Finally, Needham & Company LLC reaffirmed a buy rating and set a $70.00 target price (down previously from $80.00) on shares of CBS in a research note on Friday, November 3rd. Nine equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $71.21.
CBS (NYSE CBS) opened at $55.39 on Friday. The company has a market capitalization of $22,170.00, a P/E ratio of 17.26, a PEG ratio of 0.81 and a beta of 1.50. CBS has a 52 week low of $50.63 and a 52 week high of $70.10. The company has a debt-to-equity ratio of 4.78, a quick ratio of 1.12 and a current ratio of 1.58.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be paid a $0.18 dividend. The ex-dividend date is Thursday, March 8th. This represents a $0.72 annualized dividend and a yield of 1.30%. CBS’s dividend payout ratio (DPR) is currently 22.43%.
In other CBS news, Director Arnold Kopelson sold 5,093 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $59.51, for a total transaction of $303,084.43. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Leslie Moonves sold 85,000 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $57.85, for a total value of $4,917,250.00. Following the sale, the chief executive officer now directly owns 884,513 shares in the company, valued at approximately $51,169,077.05. The disclosure for this sale can be found here. In the last three months, insiders sold 226,377 shares of company stock worth $13,319,103. 2.03% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CBS. Focused Investors LLC boosted its position in CBS by 57.9% during the 4th quarter. Focused Investors LLC now owns 2,565,400 shares of the media conglomerate’s stock valued at $151,359,000 after acquiring an additional 940,500 shares in the last quarter. Victory Capital Management Inc. boosted its position in CBS by 26.3% during the 4th quarter. Victory Capital Management Inc. now owns 3,577,959 shares of the media conglomerate’s stock valued at $211,100,000 after acquiring an additional 744,366 shares in the last quarter. Sound Shore Management Inc. CT boosted its position in CBS by 32.8% during the 3rd quarter. Sound Shore Management Inc. CT now owns 2,440,353 shares of the media conglomerate’s stock valued at $141,540,000 after acquiring an additional 603,157 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in CBS by 10.9% during the 4th quarter. TIAA CREF Investment Management LLC now owns 4,529,331 shares of the media conglomerate’s stock valued at $267,231,000 after acquiring an additional 443,907 shares in the last quarter. Finally, Klingenstein Fields & Co. LLC bought a new stake in CBS during the 4th quarter valued at $26,182,000. 75.21% of the stock is currently owned by institutional investors and hedge funds.
CBS 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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