Envestnet Asset Management Inc. boosted its position in shares of CBS Co. (NYSE:CBS) by 150.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 347,637 shares of the media conglomerate’s stock after acquiring an additional 208,900 shares during the quarter. Envestnet Asset Management Inc. owned 0.09% of CBS worth $14,034,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Nuveen Asset Management LLC increased its position in CBS by 5,546.4% in the second quarter. Nuveen Asset Management LLC now owns 3,295,299 shares of the media conglomerate’s stock worth $164,435,000 after buying an additional 3,236,938 shares in the last quarter. Baupost Group LLC MA boosted its stake in CBS by 17.1% during the second quarter. Baupost Group LLC MA now owns 10,000,000 shares of the media conglomerate’s stock valued at $499,000,000 after buying an additional 1,457,984 shares during the last quarter. Holocene Advisors LP bought a new position in CBS during the second quarter valued at approximately $62,339,000. Victory Capital Management Inc. boosted its stake in CBS by 27.3% during the second quarter. Victory Capital Management Inc. now owns 4,267,052 shares of the media conglomerate’s stock valued at $212,927,000 after buying an additional 916,183 shares during the last quarter. Finally, Balyasny Asset Management LLC boosted its stake in CBS by 399.3% during the second quarter. Balyasny Asset Management LLC now owns 867,961 shares of the media conglomerate’s stock valued at $43,311,000 after buying an additional 694,137 shares during the last quarter. Institutional investors own 74.32% of the company’s stock.
NYSE:CBS opened at $36.39 on Friday. CBS Co. has a one year low of $35.02 and a one year high of $59.56. The stock has a market cap of $13.56 billion, a P/E ratio of 7.01, a PEG ratio of 0.60 and a beta of 1.19. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.65 and a quick ratio of 1.14. The company has a fifty day moving average price of $39.23 and a 200 day moving average price of $46.36.
CBS (NYSE:CBS) last announced its quarterly earnings data on Thursday, August 8th. The media conglomerate reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.71 billion. CBS had a net margin of 20.13% and a return on equity of 55.03%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 EPS. As a group, equities research analysts anticipate that CBS Co. will post 5.17 EPS for the current year.
A number of equities analysts recently commented on CBS shares. Stephens set a $64.00 price target on CBS and gave the company a “buy” rating in a research note on Wednesday, August 21st. Citigroup decreased their price objective on CBS from $57.00 to $51.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. ValuEngine raised shares of CBS from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. UBS Group set a $54.00 target price on shares of CBS and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Barclays dropped their price objective on shares of CBS from $53.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Monday, October 21st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. CBS currently has an average rating of “Hold” and an average target price of $53.76.
CBS Company Profile
CBS Corporation operates as a mass media company worldwide. The company operates in 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 theatrical films; and digital streaming services.
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