Equities research analysts at Stephens initiated coverage on shares of CBS (NYSE:CBS) in a report released on Thursday, The Fly reports. The brokerage set an “overweight” rating on the media conglomerate’s stock.
CBS has been the subject of a number of other reports. Citigroup restated a “buy” rating and set a $76.00 price objective (up from $75.00) on shares of CBS in a research report on Wednesday, August 23rd. ValuEngine lowered CBS from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Zacks Investment Research upgraded CBS from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Credit Suisse Group reduced their price target on CBS from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Finally, Loop Capital reiterated a “buy” rating and set a $78.00 price target on shares of CBS in a report on Sunday, August 20th. Six analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $73.29.
CBS (NYSE:CBS) opened at $57.17 on Thursday. The firm has a market capitalization of $23,198.32, a PE ratio of 13.48, a P/E/G ratio of 1.04 and a beta of 1.62. CBS has a 12 month low of $52.75 and a 12 month high of $70.10. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.55 and a quick ratio of 1.10.
In related news, Director Arnold Kopelson sold 5,093 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $59.51, for a total value of $303,084.43. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Leslie Moonves sold 150,000 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $57.62, for a total value of $8,643,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,182,652 shares in the company, valued at approximately $68,144,408.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 315,279 shares of company stock worth $18,376,728. 1.67% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Capital World Investors boosted its stake in CBS by 1.9% in the second quarter. Capital World Investors now owns 33,362,722 shares of the media conglomerate’s stock worth $1,816,267,000 after purchasing an additional 612,557 shares in the last quarter. BlackRock Institutional Trust Company N.A. lifted its stake in shares of CBS by 0.3% during the third quarter. BlackRock Institutional Trust Company N.A. now owns 11,500,295 shares of the media conglomerate’s stock valued at $629,526,000 after acquiring an additional 30,822 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of CBS by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 9,700,725 shares of the media conglomerate’s stock valued at $528,106,000 after acquiring an additional 401,343 shares during the period. Boston Partners lifted its stake in shares of CBS by 343.1% during the fourth quarter. Boston Partners now owns 7,782,031 shares of the media conglomerate’s stock valued at $366,767,000 after acquiring an additional 6,025,739 shares during the period. Finally, Glenview Capital Management LLC lifted its stake in shares of CBS by 6.7% during the first quarter. Glenview Capital Management LLC now owns 5,471,963 shares of the media conglomerate’s stock valued at $379,535,000 after acquiring an additional 343,424 shares during the period. 74.83% of the stock is currently owned by institutional investors and hedge funds.
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CBS Company Profile
CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.
