Cornerstone Capital Management Holdings LLC. Has $3.62 Million Holdings in CBS Corporation (CBS)

Cornerstone Capital Management Holdings LLC. lessened its stake in shares of CBS Corporation (NYSE:CBS) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,495 shares of the media conglomerate’s stock after selling 1,631 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in CBS were worth $3,623,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CBS. Dupont Capital Management Corp acquired a new position in shares of CBS during the 2nd quarter worth about $102,000. SG Americas Securities LLC raised its position in shares of CBS by 1.7% during the 2nd quarter. SG Americas Securities LLC now owns 53,498 shares of the media conglomerate’s stock worth $3,412,000 after purchasing an additional 880 shares during the last quarter. Blair William & Co. IL raised its position in shares of CBS by 13.0% during the 2nd quarter. Blair William & Co. IL now owns 8,779 shares of the media conglomerate’s stock worth $560,000 after purchasing an additional 1,013 shares during the last quarter. Tocqueville Asset Management L.P. acquired a new position in shares of CBS during the 2nd quarter worth about $205,000. Finally, Thompson Investment Management Inc. raised its position in shares of CBS by 1.2% during the 2nd quarter. Thompson Investment Management Inc. now owns 89,274 shares of the media conglomerate’s stock worth $5,694,000 after purchasing an additional 1,018 shares during the last quarter. Hedge funds and other institutional investors own 74.83% of the company’s stock.

Shares of CBS Corporation (CBS) opened at $58.90 on Monday. CBS Corporation has a one year low of $52.75 and a one year high of $70.10. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 3.03. The firm has a market cap of $23,570.48, a P/E ratio of 13.70, a PEG ratio of 1.06 and a beta of 1.62.

CBS (NYSE:CBS) last posted its quarterly earnings results on Thursday, November 2nd. The media conglomerate reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.04. CBS had a net margin of 2.14% and a return on equity of 58.49%. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the prior year, the company posted $1.05 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. sell-side analysts forecast that CBS Corporation will post 4.39 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Monday, December 11th will be paid a $0.18 dividend. The ex-dividend date is Friday, December 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.22%. CBS’s dividend payout ratio (DPR) is 98.63%.

CBS has been the subject of a number of recent research reports. ValuEngine downgraded shares of CBS from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Zacks Investment Research downgraded shares of CBS from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Barclays cut their price objective on shares of CBS from $57.00 to $55.00 and set an “equal weight” rating for the company in a report on Friday, October 13th. Cowen reiterated a “buy” rating and issued a $69.00 price objective on shares of CBS in a report on Friday, October 27th. Finally, Credit Suisse Group cut their price objective on shares of CBS from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Six research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $73.17.

In related news, Director Charles K. Gifford sold 5,093 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $57.33, for a total transaction of $291,981.69. Following the completion of the transaction, the director now owns 70,273 shares of the company’s stock, valued at approximately $4,028,751.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Leslie Moonves sold 150,000 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $57.62, for a total transaction of $8,643,000.00. Following the transaction, the chief executive officer now directly owns 1,182,652 shares of the company’s stock, valued at approximately $68,144,408.24. The disclosure for this sale can be found here. In the last three months, insiders sold 400,279 shares of company stock valued at $23,293,978. Corporate insiders own 1.67% of the company’s stock.

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CBS 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.

Institutional Ownership by Quarter for CBS (NYSE:CBS)

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