Public Employees Retirement Association of Colorado grew its stake in shares of CBS Co. (NYSE:CBS) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,577 shares of the media conglomerate’s stock after buying an additional 3,336 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in CBS were worth $3,022,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its position in shares of CBS by 29.6% in the first quarter. Janus Henderson Group PLC now owns 118,554 shares of the media conglomerate’s stock worth $5,636,000 after acquiring an additional 27,081 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in CBS during the first quarter valued at approximately $53,000. Janney Montgomery Scott LLC grew its position in CBS by 22.3% during the first quarter. Janney Montgomery Scott LLC now owns 17,121 shares of the media conglomerate’s stock valued at $814,000 after purchasing an additional 3,118 shares in the last quarter. Osborn Williams & Donohoe LLC grew its position in CBS by 3.6% during the first quarter. Osborn Williams & Donohoe LLC now owns 11,386 shares of the media conglomerate’s stock valued at $587,000 after purchasing an additional 400 shares in the last quarter. Finally, Quantamental Technologies LLC grew its position in CBS by 12.9% during the first quarter. Quantamental Technologies LLC now owns 8,388 shares of the media conglomerate’s stock valued at $399,000 after purchasing an additional 958 shares in the last quarter. Institutional investors own 73.25% of the company’s stock.
Shares of CBS traded down $0.90 during trading hours on Wednesday, hitting $46.72. The stock had a trading volume of 1,928,384 shares, compared to its average volume of 2,107,422. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.16 and a current ratio of 1.50. CBS Co. has a 52 week low of $41.38 and a 52 week high of $59.59. The firm has a market cap of $17.80 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 0.69 and a beta of 1.26.
CBS (NYSE:CBS) last posted its earnings results on Thursday, May 2nd. The media conglomerate reported $1.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.01). CBS had a return on equity of 66.79% and a net margin of 20.32%. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the previous year, the company posted $1.34 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that CBS Co. will post 5.62 EPS for the current fiscal year.
In other CBS news, EVP Jonathan Anschell sold 20,730 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 23,358 shares in the company, valued at approximately $1,170,469.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.56% of the company’s stock.
A number of brokerages recently commented on CBS. Barrington Research lowered their price objective on shares of CBS from $72.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. TheStreet raised shares of CBS from a “c+” rating to a “b-” rating in a research report on Tuesday, April 30th. Loop Capital boosted their target price on shares of CBS to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. 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. Finally, Benchmark reduced their price objective on shares of CBS from $90.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, February 13th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. CBS has a consensus rating of “Buy” and an average target price of $62.93.
CBS Company Profile
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.
Read More: Recession
Receive News & Ratings for CBS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS and related companies with MarketBeat.com's FREE daily email newsletter.