OppenheimerFunds Inc. Decreases Stake in CBS Co. (NYSE:CBS)

OppenheimerFunds Inc. cut its holdings in CBS Co. (NYSE:CBS) by 2.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 536,811 shares of the media conglomerate’s stock after selling 15,691 shares during the period. OppenheimerFunds Inc.’s holdings in CBS were worth $25,515,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tech Square Trading LP acquired a new position in CBS during the 1st quarter valued at about $299,000. Greenwood Capital Associates LLC acquired a new stake in shares of CBS in the 1st quarter worth approximately $243,000. Benson Investment Management Company Inc. lifted its stake in shares of CBS by 21.1% in the 1st quarter. Benson Investment Management Company Inc. now owns 68,595 shares of the media conglomerate’s stock worth $3,260,000 after acquiring an additional 11,935 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of CBS by 18.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 39,288 shares of the media conglomerate’s stock worth $1,867,000 after acquiring an additional 6,255 shares during the period. Finally, APG Asset Management N.V. lifted its stake in shares of CBS by 26.7% in the 4th quarter. APG Asset Management N.V. now owns 2,242,918 shares of the media conglomerate’s stock worth $85,781,000 after acquiring an additional 472,042 shares during the period. 73.24% of the stock is owned by institutional investors and hedge funds.

NYSE CBS opened at $49.33 on Friday. 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 12 month low of $41.38 and a 12 month high of $59.59. The company has a market capitalization of $18.11 billion, a P/E ratio of 9.50, a price-to-earnings-growth ratio of 0.70 and a beta of 1.22.

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

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 10th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.46%. CBS’s payout ratio is currently 13.87%.

A number of analysts have recently weighed in on CBS shares. Loop Capital upped their price target on shares of CBS to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Imperial Capital reaffirmed an “outperform” rating and issued a $72.00 price target (down from $75.00) on shares of CBS in a research note on Tuesday, February 19th. Wolfe Research raised shares of CBS from a “peer perform” rating to an “outperform” rating in a research note on Thursday, May 30th. TheStreet raised shares of CBS from a “c+” rating to a “b-” rating in a research note on Tuesday, April 30th. Finally, Barrington Research reaffirmed a “buy” rating and issued a $72.00 price target on shares of CBS in a research note on Tuesday, February 19th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $62.93.

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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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