Kentucky Retirement Systems Acquires New Position in CBS Co. (CBS)

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Kentucky Retirement Systems acquired a new position in CBS Co. (NYSE:CBS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 46,076 shares of the media conglomerate’s stock, valued at approximately $2,937,000.

A number of other institutional investors have also bought and sold shares of CBS. Capital Research Global Investors boosted its stake in CBS by 31.6% in the third quarter. Capital Research Global Investors now owns 32,802,753 shares of the media conglomerate’s stock worth $1,884,518,000 after purchasing an additional 7,877,689 shares in the last quarter. Capital International Investors lifted its stake in shares of CBS by 77.7% during the third quarter. Capital International Investors now owns 3,988,800 shares of the media conglomerate’s stock valued at $229,157,000 after acquiring an additional 1,744,200 shares during the period. Victory Capital Management Inc. lifted its stake in shares of CBS by 21.3% during the third quarter. Victory Capital Management Inc. now owns 3,234,338 shares of the media conglomerate’s stock valued at $185,813,000 after acquiring an additional 568,942 shares during the period. Capital Guardian Trust Co. acquired a new position in shares of CBS during the third quarter valued at $30,851,000. Finally, Menora Mivtachim Holdings LTD. acquired a new position in shares of CBS during the third quarter valued at $23,264,000. 68.76% of the stock is currently owned by institutional investors.

NYSE CBS opened at $46.20 on Wednesday. CBS Co. has a 12 month low of $45.83 and a 12 month high of $61.59. The stock has a market capitalization of $17.52 billion, a P/E ratio of 11.03, a P/E/G ratio of 0.60 and a beta of 1.19. The company has a quick ratio of 1.05, a current ratio of 1.51 and a debt-to-equity ratio of 3.76.

CBS (NYSE:CBS) last announced its quarterly earnings results on Thursday, November 1st. The media conglomerate reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.02. CBS had a return on equity of 86.51% and a net margin of 9.42%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the company earned $1.11 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research analysts predict that CBS Co. will post 5.23 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Tuesday, December 11th will be issued a $0.18 dividend. The ex-dividend date is Monday, December 10th. This represents a $0.72 annualized dividend and a dividend yield of 1.56%. CBS’s dividend payout ratio (DPR) is currently 17.18%.

Several equities analysts have recently issued reports on CBS shares. Imperial Capital reaffirmed a “buy” rating on shares of CBS in a research note on Monday, November 5th. Barrington Research reaffirmed a “buy” rating and set a $73.00 price target on shares of CBS in a research note on Monday, September 10th. B. Riley upped their price target on CBS from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 26th. Benchmark reaffirmed a “buy” rating and set a $90.00 price target on shares of CBS in a research note on Friday, November 2nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $65.00 price target on shares of CBS in a research note on Monday, October 15th. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $66.14.

In other news, EVP Anthony G. Ambrosio sold 2,234 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $58.16, for a total transaction of $129,929.44. Following the completion of the transaction, the executive vice president now directly owns 74,703 shares of the company’s stock, valued at $4,344,726.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Anthony G. Ambrosio sold 3,449 shares of the company’s stock in a transaction dated Tuesday, October 9th. The stock was sold at an average price of $57.67, for a total value of $198,903.83. Following the transaction, the executive vice president now directly owns 72,702 shares of the company’s stock, valued at $4,192,724.34. The disclosure for this sale can be found here. Insiders sold 17,380 shares of company stock valued at $1,001,762 over the last 90 days. Corporate insiders own 0.51% of the company’s stock.

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CBS 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 (NYSE:CBS)

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