Chevy Chase Trust Holdings Inc. Lowers Stake in CBS Co. (CBS)

Chevy Chase Trust Holdings Inc. cut its position in shares of CBS Co. (NYSE:CBS) by 3.3% during the third quarter, HoldingsChannel.com reports. The firm owned 278,504 shares of the media conglomerate’s stock after selling 9,358 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in CBS were worth $16,000,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Klingenstein Fields & Co. LLC increased its position in shares of CBS by 6.1% during the second quarter. Klingenstein Fields & Co. LLC now owns 445,675 shares of the media conglomerate’s stock valued at $25,056,000 after purchasing an additional 25,649 shares during the period. Inverness Counsel LLC NY bought a new stake in shares of CBS during the second quarter valued at approximately $4,541,000. Mathes Company Inc. bought a new stake in shares of CBS during the second quarter valued at approximately $250,000. Greenleaf Trust acquired a new stake in CBS in the 2nd quarter valued at $240,000. Finally, Dupont Capital Management Corp boosted its stake in CBS by 101.9% in the 2nd quarter. Dupont Capital Management Corp now owns 5,190 shares of the media conglomerate’s stock valued at $292,000 after buying an additional 2,620 shares in the last quarter. Institutional investors and hedge funds own 74.84% of the company’s stock.

CBS stock opened at $53.83 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.10 and a debt-to-equity ratio of 4.37. The firm has a market capitalization of $20.24 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36. CBS Co. has a 52 week low of $47.54 and a 52 week high of $61.59.



CBS (NYSE:CBS) last posted its quarterly earnings data on Thursday, August 2nd. The media conglomerate reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.46 billion. CBS had a return on equity of 81.10% and a net margin of 10.21%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 earnings per share. Research analysts anticipate that CBS Co. will post 5.25 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Monday, September 10th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Friday, September 7th. CBS’s dividend payout ratio is currently 17.18%.

Several analysts recently commented on the company. Zacks Investment Research raised CBS from a “sell” rating to a “hold” rating in a research note on Friday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $65.00 price target on shares of CBS in a research note on Monday, October 15th. ValuEngine raised CBS from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. B. Riley boosted their price target on CBS from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 26th. Finally, UBS Group lowered CBS from a “buy” rating to a “neutral” rating and decreased their price target for the company from $72.00 to $60.00 in a research note on Monday, September 10th. Eleven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $66.08.

In other CBS news, EVP Anthony G. Ambrosio sold 3,449 shares of the business’s stock in a transaction on Tuesday, October 9th. The stock was sold at an average price of $57.67, for a total value of $198,903.83. Following the transaction, the executive vice president now owns 72,702 shares of the company’s stock, valued at $4,192,724.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Anthony G. Ambrosio sold 11,697 shares of the business’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $57.53, for a total value of $672,928.41. Following the completion of the transaction, the executive vice president now directly owns 80,950 shares in the company, valued at approximately $4,657,053.50. The disclosure for this sale can be found here. In the last three months, insiders sold 17,246 shares of company stock worth $987,668. Insiders own 1.80% of the company’s stock.

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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