CBS Co. (NYSE:CBS) Shares Purchased by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. boosted its holdings in CBS Co. (NYSE:CBS) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 156,044 shares of the media conglomerate’s stock after acquiring an additional 3,800 shares during the period. Pictet Asset Management Ltd.’s holdings in CBS were worth $6,299,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CBS. Whitener Capital Management Inc. boosted its holdings in shares of CBS by 57.1% during the second quarter. Whitener Capital Management Inc. now owns 550 shares of the media conglomerate’s stock valued at $27,000 after acquiring an additional 200 shares during the period. NEXT Financial Group Inc boosted its stake in CBS by 70.2% during the 2nd quarter. NEXT Financial Group Inc now owns 594 shares of the media conglomerate’s stock valued at $30,000 after purchasing an additional 245 shares during the period. Shamrock Asset Management LLC boosted its stake in CBS by 4.4% during the 2nd quarter. Shamrock Asset Management LLC now owns 6,129 shares of the media conglomerate’s stock valued at $306,000 after purchasing an additional 258 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in CBS by 1.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 19,438 shares of the media conglomerate’s stock worth $970,000 after purchasing an additional 293 shares during the last quarter. Finally, MML Investors Services LLC grew its position in CBS by 4.1% in the 2nd quarter. MML Investors Services LLC now owns 7,821 shares of the media conglomerate’s stock worth $390,000 after purchasing an additional 311 shares during the last quarter. Institutional investors own 76.99% of the company’s stock.

Shares of NYSE CBS opened at $39.34 on Wednesday. CBS Co. has a 1 year low of $35.02 and a 1 year high of $53.91. The firm has a market cap of $15.13 billion, a P/E ratio of 8.11, a PEG ratio of 0.73 and a beta of 1.21. The stock has a fifty day moving average price of $37.96 and a two-hundred day moving average price of $44.47. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.05 and a current ratio of 1.52.

CBS (NYSE:CBS) last posted its quarterly earnings data on Tuesday, November 12th. The media conglomerate reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.04. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.37 billion. CBS had a return on equity of 44.13% and a net margin of 18.98%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.24 EPS. On average, research analysts predict that CBS Co. will post 4.96 earnings per share for the current fiscal year.

In other news, Director Gary L. Countryman sold 5,093 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $38.89, for a total transaction of $198,066.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by corporate insiders.

CBS has been the topic of a number of recent analyst reports. UBS Group set a $54.00 price target on CBS and gave the company a “hold” rating in a report on Friday, August 9th. Huber Research lowered CBS from an “overweight” rating to an “underweight” rating in a report on Tuesday, November 12th. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of CBS in a research report on Tuesday, November 12th. Citigroup cut their target price on CBS from $60.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Finally, Barrington Research reiterated a “buy” rating and set a $47.00 price target on shares of CBS in a research report on Tuesday, November 12th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. CBS presently has a consensus rating of “Hold” and a consensus price target of $51.94.

CBS 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.

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Institutional Ownership by Quarter for CBS (NYSE:CBS)

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