Oppenheimer & Co. Inc. Purchases 6,255 Shares of CBS Co. (CBS)

Oppenheimer & Co. Inc. boosted its position in CBS Co. (NYSE:CBS) by 18.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,288 shares of the media conglomerate’s stock after purchasing an additional 6,255 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in CBS were worth $1,867,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CBS. Investec Asset Management LTD lifted its stake in CBS by 1.4% in the first quarter. Investec Asset Management LTD now owns 3,776,288 shares of the media conglomerate’s stock valued at $179,487,000 after acquiring an additional 52,050 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of CBS by 2.1% in the fourth quarter. Victory Capital Management Inc. now owns 3,301,372 shares of the media conglomerate’s stock worth $144,337,000 after buying an additional 67,034 shares during the last quarter. Baupost Group LLC MA acquired a new stake in shares of CBS in the fourth quarter worth $111,357,000. APG Asset Management N.V. lifted its stake in shares of CBS by 26.7% in the fourth quarter. APG Asset Management N.V. now owns 2,242,918 shares of the media conglomerate’s stock worth $85,781,000 after buying an additional 472,042 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of CBS by 14.3% in the fourth quarter. Legal & General Group Plc now owns 1,809,362 shares of the media conglomerate’s stock worth $79,105,000 after buying an additional 226,403 shares during the last quarter. Institutional investors own 76.13% of the company’s stock.

Several equities analysts recently commented on the stock. Atlantic Securities lowered shares of CBS from an “overweight” rating to a “neutral” rating and set a $56.00 price target on the stock. in a report on Monday, February 11th. Loop Capital boosted their price target on shares of CBS to $65.00 and gave the company a “buy” rating in a report on Monday, April 22nd. BMO Capital Markets reissued a “buy” rating and issued a $63.00 price target on shares of CBS in a report on Tuesday, February 5th. Barrington Research reaffirmed a “buy” rating and issued a $72.00 target price on shares of CBS in a report on Tuesday, February 19th. Finally, Benchmark lowered their target price on shares of CBS from $90.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, February 13th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $62.93.

CBS stock traded down $0.60 during trading hours on Wednesday, reaching $48.32. 1,849,900 shares of the company’s stock traded hands, compared to its average volume of 2,832,187. The company has a market cap of $18.34 billion, a PE ratio of 9.31, a PEG ratio of 0.62 and a beta of 1.26. The company has a current ratio of 1.50, a quick ratio of 1.16 and a debt-to-equity ratio of 2.35. CBS Co. has a fifty-two week low of $41.38 and a fifty-two week high of $59.59.

CBS (NYSE:CBS) last announced its quarterly earnings results on Thursday, May 2nd. The media conglomerate reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). The firm had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.31 billion. CBS had a net margin of 20.32% and a return on equity of 66.79%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.34 earnings per share. Research analysts forecast that CBS Co. will post 5.62 EPS for the current year.

In other news, Director Gary L. Countryman sold 4,584 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $51.35, for a total transaction of $235,388.40. Following the completion of the transaction, the director now directly owns 63,454 shares of the company’s stock, valued at approximately $3,258,362.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan Anschell sold 20,730 shares of the firm’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $50.11, for a total transaction of $1,038,780.30. Following the completion of the transaction, the executive vice president now directly owns 23,358 shares of the company’s stock, valued at $1,170,469.38. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders.

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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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