Bank of The West Cuts Holdings in CBS Co. (CBS)

Bank of The West lowered its position in CBS Co. (NYSE:CBS) by 51.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,860 shares of the media conglomerate’s stock after selling 31,597 shares during the quarter. Bank of The West’s holdings in CBS were worth $1,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CBS. Capital Research Global Investors boosted its stake in CBS by 31.6% in the third quarter. Capital Research Global Investors now owns 32,802,753 shares of the media conglomerate’s stock worth $1,884,518,000 after buying an additional 7,877,689 shares in the last quarter. Capital International Investors boosted its stake in CBS by 77.7% in the third quarter. Capital International Investors now owns 3,988,800 shares of the media conglomerate’s stock worth $229,157,000 after buying an additional 1,744,200 shares in the last quarter. State Treasurer State of Michigan boosted its stake in CBS by 566.9% in the fourth quarter. State Treasurer State of Michigan now owns 672,427 shares of the media conglomerate’s stock worth $29,399,000 after buying an additional 571,600 shares in the last quarter. Victory Capital Management Inc. boosted its stake in CBS by 21.3% in the third quarter. Victory Capital Management Inc. now owns 3,234,338 shares of the media conglomerate’s stock worth $185,813,000 after buying an additional 568,942 shares in the last quarter. Finally, Capital Guardian Trust Co. purchased a new stake in CBS in the third quarter worth approximately $30,851,000. 74.45% of the stock is owned by institutional investors and hedge funds.

NYSE:CBS opened at $51.20 on Thursday. The company has a market cap of $18.93 billion, a PE ratio of 9.85, a P/E/G ratio of 0.60 and a beta of 1.32. CBS Co. has a fifty-two week low of $41.38 and a fifty-two week high of $59.59. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 3.38.

CBS (NYSE:CBS) last released its quarterly earnings data on Thursday, February 14th. The media conglomerate reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.03). The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.13 billion. CBS had a net margin of 13.50% and a return on equity of 83.61%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the company posted $1.20 EPS. Sell-side analysts anticipate that CBS Co. will post 5.73 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.41%. CBS’s dividend payout ratio is presently 13.87%.

Several analysts have issued reports on CBS shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $63.00 target price on shares of CBS in a research note on Tuesday, February 5th. Imperial Capital reaffirmed an “outperform” rating and issued a $72.00 target price (down previously from $75.00) on shares of CBS in a research note on Tuesday. Loop Capital cut their target price on CBS from $68.00 to $59.00 in a research note on Thursday, December 27th. Stephens raised CBS from an “equal weight” rating to an “overweight” rating and set a $58.00 price objective for the company in a research note on Wednesday, January 2nd. Finally, Barrington Research reissued a “buy” rating and set a $72.00 price objective on shares of CBS in a research note on Tuesday. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $64.10.

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CBS Profile

CBS Corporation operates as a mass media company worldwide. The company operates through four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces, acquires, and distributes theatrical motion pictures; and digital streaming services.

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Institutional Ownership by Quarter for CBS (NYSE:CBS)

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