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.
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 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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