Tiverton Asset Management LLC Decreases Stock Holdings in CBS Co. (NYSE:CBS)

Tiverton Asset Management LLC trimmed its holdings in shares of CBS Co. (NYSE:CBS) by 32.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,961 shares of the media conglomerate’s stock after selling 1,403 shares during the quarter. Tiverton Asset Management LLC’s holdings in CBS were worth $148,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Allstate Corp increased its position in shares of CBS by 61.2% during the first quarter. Allstate Corp now owns 10,904 shares of the media conglomerate’s stock valued at $518,000 after acquiring an additional 4,141 shares during the last quarter. Tech Square Trading LP bought a new position in CBS during the first quarter valued at $299,000. TD Asset Management Inc. grew its holdings in CBS by 0.5% during the second quarter. TD Asset Management Inc. now owns 228,823 shares of the media conglomerate’s stock valued at $11,418,000 after purchasing an additional 1,042 shares during the period. Aperio Group LLC grew its holdings in CBS by 22.3% during the second quarter. Aperio Group LLC now owns 202,369 shares of the media conglomerate’s stock valued at $10,098,000 after purchasing an additional 36,944 shares during the period. Finally, Letko Brosseau & Associates Inc. grew its holdings in CBS by 35.1% during the first quarter. Letko Brosseau & Associates Inc. now owns 1,779,282 shares of the media conglomerate’s stock valued at $84,569,000 after purchasing an additional 462,110 shares during the period. 74.69% of the stock is owned by institutional investors.

Shares of CBS stock traded up $0.09 during trading hours on Thursday, reaching $43.90. The company had a trading volume of 4,649,623 shares, compared to its average volume of 2,972,853. CBS Co. has a one year low of $40.65 and a one year high of $59.56. The business has a fifty day simple moving average of $46.05 and a 200 day simple moving average of $48.76. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.65 and a quick ratio of 1.14. The firm has a market cap of $16.20 billion, a PE ratio of 8.46, a price-to-earnings-growth ratio of 0.69 and a beta of 1.22.



CBS (NYSE:CBS) last posted its quarterly earnings results on Thursday, August 8th. The media conglomerate reported $1.16 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.03. CBS had a return on equity of 55.03% and a net margin of 20.13%. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period last year, the company earned $1.12 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, research analysts forecast that CBS Co. will post 5.48 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Monday, September 9th. CBS’s payout ratio is currently 13.87%.

Several equities analysts have weighed in on the company. TheStreet lowered CBS from a “b-” rating to a “c+” rating in a report on Friday, August 23rd. Benchmark reduced their price objective on CBS from $71.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Wolfe Research raised CBS from a “peer perform” rating to an “outperform” rating in a report on Thursday, May 30th. Sanford C. Bernstein reduced their price objective on CBS from $46.00 to $35.00 and set an “underperform” rating for the company in a report on Tuesday, September 3rd. Finally, UBS Group set a $54.00 price objective on CBS and gave the company a “hold” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $59.47.

About CBS

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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Institutional Ownership by Quarter for CBS (NYSE:CBS)

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