Commonwealth of Pennsylvania Public School Empls Retrmt SYS Increases Stake in CBS Co. (CBS)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in CBS Co. (NYSE:CBS) by 22.8% during the first quarter, Holdings Channel reports. The firm owned 27,590 shares of the media conglomerate’s stock after buying an additional 5,120 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in CBS were worth $1,914,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CBS. State of Wisconsin Investment Board boosted its position in CBS by 4.3% in the third quarter. State of Wisconsin Investment Board now owns 557,857 shares of the media conglomerate’s stock valued at $30,537,000 after buying an additional 23,200 shares during the period. Mizuho Trust & Banking Co. Ltd. boosted its position in CBS by 0.5% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 668,266 shares of the media conglomerate’s stock valued at $36,581,000 after buying an additional 3,405 shares during the period. Nordea Investment Management AB boosted its position in CBS by 6.9% in the third quarter. Nordea Investment Management AB now owns 186,981 shares of the media conglomerate’s stock valued at $10,235,000 after buying an additional 12,002 shares during the period. Sit Investment Associates Inc. boosted its position in CBS by 38.7% in the third quarter. Sit Investment Associates Inc. now owns 431,260 shares of the media conglomerate’s stock valued at $23,607,000 after buying an additional 120,260 shares during the period. Finally, San Francisco Sentry Investment Group CA boosted its position in CBS by 11.2% in the third quarter. San Francisco Sentry Investment Group CA now owns 13,918 shares of the media conglomerate’s stock valued at $762,000 after buying an additional 1,400 shares during the period. Hedge funds and other institutional investors own 78.18% of the company’s stock.

Institutional Ownership by Quarter for CBS (NYSE:CBS)

Shares of CBS Co. (NYSE:CBS) traded up 2.12% during midday trading on Friday, hitting $61.66. 4,054,402 shares of the company traded hands. The stock’s 50-day moving average is $65.97 and its 200 day moving average is $64.19. The stock has a market capitalization of $25.03 billion, a P/E ratio of 50.29 and a beta of 1.66. CBS Co. has a 12-month low of $48.88 and a 12-month high of $70.10.

CBS (NYSE:CBS) last released its quarterly earnings data on Thursday, May 4th. The media conglomerate reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.09. CBS had a net margin of 11.32% and a return on equity of 33.06%. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the firm earned $1.02 EPS. CBS’s quarterly revenue was down 6.9% compared to the same quarter last year. On average, analysts expect that CBS Co. will post $4.46 earnings per share for the current year.

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Several research analysts have commented on CBS shares. Zacks Investment Research cut shares of CBS from a “buy” rating to a “hold” rating in a research report on Thursday, January 19th. Credit Suisse Group AG started coverage on shares of CBS in a research report on Friday, January 20th. They issued an “outperform” rating and a $75.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $72.00 target price (up previously from $65.00) on shares of CBS in a research report on Tuesday, January 24th. Jefferies Group LLC restated a “buy” rating and issued a $71.00 target price (up previously from $65.00) on shares of CBS in a research report on Friday, February 3rd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $70.00 target price on shares of CBS in a research report on Friday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $71.37.

In related news, COO Joseph R. Ianniello sold 68,869 shares of CBS stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $67.40, for a total transaction of $4,641,770.60. Following the transaction, the chief operating officer now owns 305,580 shares of the company’s stock, valued at approximately $20,596,092. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lawrence Tu sold 28,641 shares of CBS stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $67.68, for a total transaction of $1,938,422.88. Following the transaction, the executive vice president now directly owns 5,732 shares in the company, valued at approximately $387,941.76. The disclosure for this sale can be found here. 1.67% of the stock is owned by company insiders.

CBS Company Profile

CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.

5 Day Chart for NYSE:CBS

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