Kimelman & Baird LLC cut its holdings in shares of CBS Co. (NYSE:CBS) by 20.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 247,268 shares of the media conglomerate’s stock after selling 64,324 shares during the period. CBS comprises approximately 1.7% of Kimelman & Baird LLC’s portfolio, making the stock its 26th largest position. Kimelman & Baird LLC owned 0.07% of CBS worth $10,811,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Canada Pension Plan Investment Board boosted its holdings in CBS by 50.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 466,687 shares of the media conglomerate’s stock worth $20,402,000 after acquiring an additional 155,492 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in CBS in the 4th quarter valued at about $599,000. Nwam LLC raised its stake in CBS by 9.1% in the 4th quarter. Nwam LLC now owns 7,675 shares of the media conglomerate’s stock valued at $336,000 after acquiring an additional 640 shares during the period. Commonwealth Bank of Australia raised its stake in CBS by 17.5% in the 4th quarter. Commonwealth Bank of Australia now owns 79,412 shares of the media conglomerate’s stock valued at $3,465,000 after acquiring an additional 11,827 shares during the period. Finally, Heritage Trust Co raised its stake in CBS by 2.7% in the 4th quarter. Heritage Trust Co now owns 10,378 shares of the media conglomerate’s stock valued at $454,000 after acquiring an additional 275 shares during the period. Institutional investors and hedge funds own 75.69% of the company’s stock.
A number of brokerages recently issued reports on CBS. Barrington Research restated a “buy” rating and issued a $72.00 price objective on shares of CBS in a research note on Tuesday, February 19th. Imperial Capital restated an “outperform” rating and issued a $72.00 price objective (down from $75.00) on shares of CBS in a research note on Tuesday, February 19th. Benchmark decreased their price target on CBS from $90.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, February 13th. Atlantic Securities cut CBS from an “overweight” rating to a “neutral” rating and set a $56.00 price target on the stock. in a research report on Monday, February 11th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $63.00 price target on shares of CBS in a research report on Tuesday, February 5th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $64.10.
CBS traded up $1.08 during midday trading on Monday, hitting $46.14. The stock had a trading volume of 71,191 shares, compared to its average volume of 3,157,055. The firm has a market cap of $17.13 billion, a P/E ratio of 8.72, a P/E/G ratio of 0.60 and a beta of 1.26. The company has a debt-to-equity ratio of 3.38, a current ratio of 1.48 and a quick ratio of 1.04. CBS Co. has a 1 year low of $41.38 and a 1 year high of $59.59.
CBS (NYSE:CBS) last issued its earnings results on Thursday, February 14th. The media conglomerate reported $1.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.03). The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.13 billion. CBS had a return on equity of 83.61% and a net margin of 13.50%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 EPS. On average, equities analysts anticipate that CBS Co. will post 5.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.56%. The ex-dividend date is Friday, March 8th. CBS’s dividend payout ratio is currently 13.87%.
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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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