ETF Managers Group LLC Buys Shares of 32,519 CBS Co. Common Stock (CBS)

ETF Managers Group LLC bought a new position in CBS Co. Common Stock (NYSE:CBS) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 32,519 shares of the media conglomerate’s stock, valued at approximately $1,649,000.

Other institutional investors have also recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC boosted its stake in CBS Co. Common Stock by 10.9% in the 4th quarter. TIAA CREF Investment Management LLC now owns 4,529,331 shares of the media conglomerate’s stock worth $267,231,000 after purchasing an additional 443,907 shares during the period. Sound Shore Management Inc. CT boosted its stake in CBS Co. Common Stock by 17.0% in the 1st quarter. Sound Shore Management Inc. CT now owns 3,510,235 shares of the media conglomerate’s stock worth $180,391,000 after purchasing an additional 508,961 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of CBS Co. Common Stock by 143.8% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 2,100,000 shares of the media conglomerate’s stock valued at $107,919,000 after acquiring an additional 1,238,670 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of CBS Co. Common Stock by 3.5% during the 4th quarter. Teachers Advisors LLC now owns 1,437,701 shares of the media conglomerate’s stock valued at $84,824,000 after acquiring an additional 48,036 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of CBS Co. Common Stock by 1.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,426,041 shares of the media conglomerate’s stock valued at $73,285,000 after acquiring an additional 14,353 shares during the last quarter. 75.20% of the stock is owned by institutional investors.

Shares of CBS Co. Common Stock opened at $54.26 on Thursday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 4.78, a current ratio of 1.52 and a quick ratio of 1.13. The stock has a market capitalization of $19.70 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 0.68 and a beta of 1.47. CBS Co. Common Stock has a fifty-two week low of $47.54 and a fifty-two week high of $68.75.

CBS Co. Common Stock (NYSE:CBS) last issued its quarterly earnings results on Thursday, May 3rd. The media conglomerate reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.15. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.65 billion. CBS Co. Common Stock had a return on equity of 77.15% and a net margin of 7.94%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $1.04 earnings per share. equities analysts anticipate that CBS Co. Common Stock will post 5.26 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, July 1st. Shareholders of record on Friday, June 8th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, June 7th. CBS Co. Common Stock’s dividend payout ratio is presently 17.18%.

In related news, CEO Leslie Moonves sold 85,000 shares of CBS Co. Common Stock stock in a transaction dated Wednesday, April 11th. The stock was sold at an average price of $51.05, for a total transaction of $4,339,250.00. Following the completion of the sale, the chief executive officer now owns 885,831 shares of the company’s stock, valued at $45,221,672.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan Anschell sold 10,000 shares of CBS Co. Common Stock stock in a transaction dated Friday, May 25th. The stock was sold at an average price of $51.05, for a total value of $510,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 255,000 shares of company stock valued at $13,003,600. Corporate insiders own 1.80% of the company’s stock.

A number of research firms have recently commented on CBS. B. Riley lowered their target price on CBS Co. Common Stock from $84.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Royal Bank of Canada set a $71.00 target price on CBS Co. Common Stock and gave the company a “buy” rating in a research report on Saturday, February 17th. Pivotal Research reiterated a “hold” rating and set a $64.00 target price on shares of CBS Co. Common Stock in a research report on Friday, February 16th. Citigroup lowered their price target on CBS Co. Common Stock from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Finally, Stephens set a $58.00 target price on CBS Co. Common Stock and gave the stock a “hold” rating in a research note on Monday, May 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $68.47.

CBS Co. Common Stock Company Profile

CBS Corporation operates as a mass media company worldwide. The company operates through four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces, acquires, and distributes theatrical motion pictures; and digital streaming services.

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Institutional Ownership by Quarter for CBS Co. Common Stock (NYSE:CBS)

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