CBS Co. (CBS) Stake Decreased by Amalgamated Bank

Amalgamated Bank trimmed its holdings in CBS Co. (NYSE:CBS) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,479 shares of the media conglomerate’s stock after selling 1,374 shares during the period. Amalgamated Bank’s holdings in CBS were worth $2,120,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Heritage Trust Co grew its stake in shares of CBS by 2.7% in the fourth quarter. Heritage Trust Co now owns 10,378 shares of the media conglomerate’s stock worth $454,000 after purchasing an additional 275 shares during the last quarter. Regent Investment Management LLC boosted its position in CBS by 2.1% during the fourth quarter. Regent Investment Management LLC now owns 14,437 shares of the media conglomerate’s stock valued at $631,000 after acquiring an additional 300 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of CBS by 21.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,750 shares of the media conglomerate’s stock valued at $77,000 after purchasing an additional 307 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of CBS by 0.7% during the fourth quarter. Nuveen Asset Management LLC now owns 54,028 shares of the media conglomerate’s stock valued at $2,362,000 after purchasing an additional 350 shares during the period. Finally, CSat Investment Advisory L.P. raised its holdings in shares of CBS by 17.4% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,596 shares of the media conglomerate’s stock valued at $113,000 after purchasing an additional 384 shares during the period. Institutional investors own 75.73% of the company’s stock.

Shares of CBS traded down $0.14 during trading hours on Friday, reaching $52.39. 2,172,584 shares of the company traded hands, compared to its average volume of 2,724,154. CBS Co. has a 12 month low of $41.38 and a 12 month high of $59.59. The firm has a market capitalization of $19.54 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 0.70 and a beta of 1.24. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 3.38.

CBS (NYSE:CBS) last issued its quarterly earnings results on Thursday, February 14th. The media conglomerate reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.03). CBS had a net margin of 13.50% and a return on equity of 83.61%. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period last year, the business earned $1.20 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. On average, research analysts forecast that CBS Co. will post 5.65 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given a dividend of $0.18 per share. The ex-dividend date was Friday, March 8th. This represents a $0.72 dividend on an annualized basis and a yield of 1.37%. CBS’s dividend payout ratio (DPR) is currently 13.87%.

CBS has been the topic of several recent analyst reports. Loop Capital lowered their target price on shares of CBS from $68.00 to $59.00 in a research note on Thursday, December 27th. Stephens upgraded shares of CBS from an “equal weight” rating to an “overweight” rating and set a $58.00 price objective on the stock in a research report on Wednesday, January 2nd. TheStreet cut shares of CBS from a “b-” rating to a “c+” rating in a research report on Monday, December 31st. Moffett Nathanson upgraded shares of CBS from a “neutral” rating to a “buy” rating in a research report on Thursday, January 17th. Finally, Barrington Research restated a “buy” rating and set a $72.00 price objective on shares of CBS in a research report on Monday, February 4th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $64.28.

In other CBS news, EVP Jonathan Anschell sold 20,730 shares of CBS stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $50.11, for a total value of $1,038,780.30. Following the completion of the transaction, the executive vice president now directly owns 23,358 shares of the company’s stock, valued at $1,170,469.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary L. Countryman sold 4,584 shares of CBS stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $51.35, for a total transaction of $235,388.40. Following the completion of the transaction, the director now directly owns 63,454 shares of the company’s stock, valued at $3,258,362.90. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by insiders.

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CBS 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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Institutional Ownership by Quarter for CBS (NYSE:CBS)

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