Teacher Retirement System of Texas boosted its stake in shares of CBS Corp. (NYSE:CBS) by 27.8% during the second quarter, Holdings Channel reports. The firm owned 30,192 shares of the media conglomerate’s stock after buying an additional 6,574 shares during the period. Teacher Retirement System of Texas’ holdings in CBS Corp. were worth $1,644,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CBS. Old Mutual Global Investors UK Ltd. increased its position 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 CBS Corp. during the first quarter valued at about $51,458,000. Junto Capital Management LP bought a new stake in CBS Corp. during the first quarter valued at about $25,427,000. First Quadrant L P CA boosted its stake in 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 in the last quarter. Finally, Gluskin Sheff & Assoc Inc. bought a new stake in CBS Corp. during the second quarter valued at about $24,255,000. Institutional investors and hedge funds own 76.78% of the company’s stock.
Shares of CBS Corp. (NYSE:CBS) opened at 50.91 on Friday. The stock has a market capitalization of $22.63 billion, a price-to-earnings ratio of 15.06 and a beta of 1.89. CBS Corp. has a 52-week low of $38.51 and a 52-week high of $58.22. The stock has a 50 day moving average of $51.83 and a 200-day moving average of $53.70.
CBS Corp. (NYSE:CBS) last announced its quarterly earnings data on Thursday, July 28th. The media conglomerate reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.07. The firm earned $3.29 billion during the quarter, compared to analyst estimates of $3.21 billion. CBS Corp. had a return on equity of 31.53% and a net margin of 11.07%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the company earned $0.74 earnings per share. On average, equities research analysts predict that CBS Corp. will post $3.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.41%. This is a positive change from CBS Corp.’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, September 7th. CBS Corp.’s dividend payout ratio (DPR) is presently 21.30%.
Several analysts recently issued reports on CBS shares. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $75.00 price target on shares of CBS Corp. in a report on Friday, July 29th. Deutsche Bank AG upped their price target on shares of CBS Corp. from $65.00 to $68.00 and gave the company a “buy” rating in a report on Friday, July 29th. Pivotal Research reaffirmed a “buy” rating on shares of CBS Corp. in a report on Sunday, July 24th. Zacks Investment Research raised shares of CBS Corp. from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Wednesday, July 20th. Finally, Brean Capital reaffirmed a “buy” rating and issued a $65.00 price target on shares of CBS Corp. in a report on Sunday, July 17th. Five analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $61.67.
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.
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