Tredje AP fonden Has $1.02 Million Position in CBS Co. (CBS)

Tredje AP fonden trimmed its holdings in CBS Co. (NYSE:CBS) by 44.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 50,692 shares of the media conglomerate’s stock after selling 41,250 shares during the period. Tredje AP fonden’s holdings in CBS were worth $1,016,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CBS. Xact Kapitalforvaltning AB boosted its position in shares of CBS by 3.2% during the fourth quarter. Xact Kapitalforvaltning AB now owns 65,958 shares of the media conglomerate’s stock worth $3,892,000 after buying an additional 2,041 shares during the period. Toronto Dominion Bank boosted its position in shares of CBS by 12.5% during the fourth quarter. Toronto Dominion Bank now owns 155,517 shares of the media conglomerate’s stock worth $9,176,000 after buying an additional 17,240 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of CBS by 53.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 21,419 shares of the media conglomerate’s stock worth $1,264,000 after buying an additional 7,436 shares during the period. Tower View Investment Management & Research LLC purchased a new position in shares of CBS during the fourth quarter worth $1,201,000. Finally, Financial Counselors Inc. boosted its position in shares of CBS by 51.9% during the fourth quarter. Financial Counselors Inc. now owns 139,468 shares of the media conglomerate’s stock worth $8,229,000 after buying an additional 47,637 shares during the period. Institutional investors own 75.61% of the company’s stock.

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Several research analysts have recently commented on the company. Wells Fargo & Co lowered CBS from an “outperform” rating to a “market perform” rating and set a $63.00 price target for the company. in a research report on Monday, January 29th. ValuEngine lowered CBS from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Pivotal Research restated a “hold” rating and set a $64.00 price target on shares of CBS in a research report on Friday, February 16th. Benchmark reiterated a “buy” rating on shares of CBS in a research note on Friday, February 16th. Finally, B. Riley reduced their price objective on CBS from $84.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $68.47.

In other CBS news, CEO Leslie Moonves sold 85,000 shares of the firm’s stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $50.46, for a total value of $4,289,100.00. Following the sale, the chief executive officer now directly owns 915,531 shares in the company, valued at $46,197,694.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 330,000 shares of company stock worth $17,174,900. 1.80% of the stock is owned by insiders.

CBS opened at $50.51 on Thursday, Marketbeat reports. CBS Co. has a 1-year low of $47.54 and a 1-year high of $68.75. The company has a debt-to-equity ratio of 4.78, a quick ratio of 1.13 and a current ratio of 1.52. The firm has a market capitalization of $19.53 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 0.68 and a beta of 1.49.

CBS (NYSE:CBS) last posted its quarterly earnings results on Thursday, May 3rd. The media conglomerate reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.15. CBS had a return on equity of 77.15% and a net margin of 7.94%. The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same period last year, the firm earned $1.04 earnings per share. CBS’s quarterly revenue was up 12.5% on a year-over-year basis. analysts anticipate that CBS Co. will post 5.24 earnings per share for the current fiscal year.

CBS 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.