1ST Source Bank continued to hold its stake in shares of CBS Corp. (NYSE:CBS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,254 shares of the media conglomerate’s stock at the end of the second quarter. 1ST Source Bank’s holdings in CBS Corp. were worth $232,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of CBS. Legal & General Group Plc increased its stake in shares of CBS Corp. by 1.8% in the first quarter. Legal & General Group Plc now owns 1,941,497 shares of the media conglomerate’s stock valued at $106,956,000 after buying an additional 34,593 shares during the period. Old Mutual Global Investors UK Ltd. increased its stake in shares of CBS Corp. by 1,184,230.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,883,086 shares of the media conglomerate’s stock valued at $102,515,000 after buying an additional 1,882,927 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in shares of CBS Corp. during the first quarter valued at about $51,458,000. New York State Teachers Retirement System increased its stake in shares of CBS Corp. by 1.9% in the second quarter. New York State Teachers Retirement System now owns 751,498 shares of the media conglomerate’s stock valued at $40,912,000 after buying an additional 14,088 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of CBS Corp. by 56.0% in the first quarter. Canada Pension Plan Investment Board now owns 630,127 shares of the media conglomerate’s stock valued at $34,714,000 after buying an additional 226,227 shares during the period. Institutional investors and hedge funds own 76.80% of the company’s stock.
CBS Corp. (NYSE:CBS) traded down 0.045% during midday trading on Tuesday, hitting $55.365. 1,890,278 shares of the stock traded hands. The stock’s 50-day moving average price is $53.07 and its 200-day moving average price is $53.83. The stock has a market capitalization of $24.62 billion, a P/E ratio of 16.380 and a beta of 1.81. CBS Corp. has a 52 week low of $41.36 and a 52 week high of $58.22.
CBS Corp. (NYSE:CBS) last released its earnings results on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.07. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same quarter last year, the firm earned $0.74 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts expect that CBS Corp. will post $3.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 9th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.72 annualized dividend and a dividend yield of 1.30%. This is a positive change from CBS Corp.’s previous quarterly dividend of $0.15. CBS Corp.’s dividend payout ratio (DPR) is currently 21.30%.
Several brokerages have issued reports on CBS. JPMorgan Chase & Co. restated a “buy” rating on shares of CBS Corp. in a research report on Thursday, June 30th. Brean Capital restated a “buy” rating and set a $65.00 price objective on shares of CBS Corp. in a research report on Sunday, July 17th. Zacks Investment Research upgraded shares of CBS Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Thursday, August 4th. Wells Fargo & Co. downgraded shares of CBS Corp. to a “buy” rating in a research report on Monday, July 11th. Finally, Wedbush restated an “outperform” rating and set a $65.00 price objective (down from $73.00) on shares of CBS Corp. in a research report on Monday. Five analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. CBS Corp. presently has a consensus rating of “Buy” and an average target price of $62.64.
CBS Corp. Company Profile
CBS Corporation is a mass media company. The Company’s segments include Entertainment, Cable Networks, Publishing and Local Broadcasting. Its Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Interactive, and CBS Films.