American Trust Investment Advisors LLC boosted its holdings in CBS Co. (NYSE:CBS) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,279 shares of the media conglomerate’s stock after acquiring an additional 420 shares during the quarter. CBS accounts for approximately 3.0% of American Trust Investment Advisors LLC’s holdings, making the stock its 10th largest position. American Trust Investment Advisors LLC’s holdings in CBS were worth $3,856,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in CBS. Whitener Capital Management Inc. grew its stake in shares of CBS by 57.1% in the 2nd quarter. Whitener Capital Management Inc. now owns 550 shares of the media conglomerate’s stock valued at $27,000 after buying an additional 200 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in CBS by 2.3% during the 1st quarter. Stratos Wealth Partners LTD. now owns 10,074 shares of the media conglomerate’s stock worth $479,000 after buying an additional 228 shares in the last quarter. NEXT Financial Group Inc lifted its holdings in CBS by 70.2% during the 2nd quarter. NEXT Financial Group Inc now owns 594 shares of the media conglomerate’s stock worth $30,000 after buying an additional 245 shares in the last quarter. Shamrock Asset Management LLC lifted its holdings in CBS by 4.4% during the 2nd quarter. Shamrock Asset Management LLC now owns 6,129 shares of the media conglomerate’s stock worth $306,000 after buying an additional 258 shares in the last quarter. Finally, Carroll Financial Associates Inc. lifted its holdings in CBS by 96.5% during the 2nd quarter. Carroll Financial Associates Inc. now owns 560 shares of the media conglomerate’s stock worth $27,000 after buying an additional 275 shares in the last quarter. 74.69% of the stock is currently owned by institutional investors and hedge funds.
NYSE CBS traded up $0.17 on Friday, reaching $43.99. The company’s stock had a trading volume of 27,407 shares, compared to its average volume of 4,875,512. CBS Co. has a twelve month low of $40.65 and a twelve month high of $59.56. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.14 and a current ratio of 1.65. The stock has a market cap of $16.42 billion, a PE ratio of 8.49, a PEG ratio of 0.70 and a beta of 1.22. The firm’s 50 day moving average is $46.05 and its two-hundred day moving average is $48.76.
CBS (NYSE:CBS) last issued its quarterly earnings results on Thursday, August 8th. The media conglomerate reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.03. CBS had a net margin of 20.13% and a return on equity of 55.03%. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the prior year, the company earned $1.12 EPS. CBS’s revenue was up 9.7% on a year-over-year basis. Equities research analysts anticipate that CBS Co. will post 5.48 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Monday, September 9th. CBS’s dividend payout ratio is presently 13.87%.
A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein reduced their target price on shares of CBS from $46.00 to $35.00 and set an “underperform” rating on the stock in a report on Tuesday, September 3rd. BMO Capital Markets lowered shares of CBS from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $60.00 to $51.00 in a report on Wednesday, August 14th. TheStreet lowered shares of CBS from a “b-” rating to a “c+” rating in a report on Friday, August 23rd. Stephens set a $64.00 target price on shares of CBS and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Wolfe Research raised shares of CBS from a “peer perform” rating to an “outperform” rating in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.47.
CBS Corporation operates as a mass media company worldwide. The company operates in 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 theatrical films; and digital streaming services.
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