ING Groep NV boosted its stake in shares of CBS Corp. (NYSE:CBS) by 64.6% during the second quarter, Holdings Channel reports. The firm owned 25,662 shares of the media conglomerate’s stock after buying an additional 10,070 shares during the period. ING Groep NV’s holdings in CBS Corp. were worth $1,397,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in CBS. 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 purchased a new stake in shares of CBS Corp. during the first quarter valued at approximately $51,458,000. Junto Capital Management LP purchased a new stake in shares of CBS Corp. during the first quarter valued at approximately $25,427,000. First Quadrant L P CA increased its stake in shares of CBS Corp. by 20,860.0% in the second quarter. First Quadrant L P CA now owns 458,186 shares of the media conglomerate’s stock valued at $24,944,000 after buying an additional 456,000 shares during the period. Finally, Friess Associates LLC purchased a new stake in shares of CBS Corp. during the first quarter valued at approximately $15,703,000. 76.78% of the stock is currently owned by institutional investors.
Shares of CBS Corp. (NYSE:CBS) traded down 0.35% during mid-day trading on Thursday, reaching $56.21. The company had a trading volume of 3,971,549 shares. The stock’s 50-day moving average price is $52.31 and its 200 day moving average price is $53.77. The company has a market capitalization of $24.99 billion, a PE ratio of 16.63 and a beta of 1.81. CBS Corp. has a 1-year low of $41.36 and a 1-year high of $58.22.
CBS Corp. (NYSE:CBS) last announced its quarterly earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. The company earned $3.29 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the previous year, the company posted $0.74 earnings per share. CBS Corp.’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts expect that CBS Corp. will post $3.09 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 9th were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This is an increase from CBS Corp.’s previous quarterly dividend of $0.15. This represents a $0.72 dividend on an annualized basis and a yield of 1.28%. CBS Corp.’s payout ratio is presently 21.30%.
Several analysts recently commented on CBS shares. Drexel Hamilton started coverage on shares of CBS Corp. in a research report on Tuesday, September 6th. They set a “buy” rating and a $65.00 price objective on the stock. Jefferies Group restated a “buy” rating on shares of CBS Corp. in a research note on Monday, September 12th. BMO Capital Markets restated an “outperform” rating and set a $63.00 target price on shares of CBS Corp. in a research note on Sunday, July 31st. Zacks Investment Research upgraded shares of CBS Corp. from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Wednesday, July 20th. Finally, Telsey Advisory Group cut shares of CBS Corp. from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $67.00 to $57.00 in a research note on Thursday, September 22nd. Five equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. CBS Corp. presently has an average rating of “Buy” and a consensus 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.
Want to see what other hedge funds are holding CBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBS Corp. (NYSE:CBS).
Receive News & Ratings for CBS Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBS Corp. and related companies with MarketBeat.com's FREE daily email newsletter.