Ownership Action Alert: CBS Corp (NYSE:CBS) First Quarter Institutional Investor Sentiment Steady

November 25, 2016 - By Richard Conner   ·   0 Comments

Ownership Action Alert: CBS Corp (NYSE:CBS) First Quarter Institutional Investor Sentiment Steady

Sentiment for CBS Corp (NYSE:CBS)

CBS Corp (NYSE:CBS) institutional sentiment increased to 0.91 in 2016 Q2. Its up 0.02, from 0.89 in 2016Q1. The ratio has increased, as 253 funds opened new or increased holdings, while 284 sold and decreased equity positions in CBS Corp. The funds in our partner’s database now have: 282.48 million shares, down from 309.41 million shares in 2016Q1. Also, the number of funds holding CBS Corp in their top 10 holdings decreased from 24 to 19 for a decrease of 5. Sold All: 50 Reduced: 234 Increased: 201 New Position: 52.

CBS Corporation is a mass media company. The company has a market cap of $27.93 billion. The Company’s divisions include Entertainment, Cable Networks, Publishing and Local Broadcasting. It has a 16.67 P/E ratio. The Company’s Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group ; CBS Interactive, and CBS Films.

About 380,321 shares traded hands. CBS Corporation (NYSE:CBS) has risen 6.23% since April 22, 2016 and is uptrending. It has outperformed by 0.82% the S&P500.

Analysts await CBS Corporation (NYSE:CBS) to report earnings on February, 9. They expect $1.13 EPS, up 22.83% or $0.21 from last year’s $0.92 per share. CBS’s profit will be $520.79M for 13.40 P/E if the $1.13 EPS becomes a reality. After $1.05 actual EPS reported by CBS Corporation for the previous quarter, Wall Street now forecasts 7.62% EPS growth.

According to Zacks Investment Research, “CBS Corporation is a mass media company that creates and distributes industry-leading content to audiences worldwide. CBS has businesses with origins that date back to the beginnings of broadcast as well as new ventures that operate on media’s leading edge. It owns the most-watched television network in the U.S. and one of the world’s largest entertainment libraries. CBS’s operations span nearly every field of media and entertainment, including cable, publishing, radio, TV, film, outdoor advertising, and interactive and socially responsible media. Its businesses include CBS Television Network, The CW (owned by CBS Corporation and Warner Bros. Entertainment), Showtime Networks, CBS Sports Network, Smithsonian Networks, Simon & Schuster, CBS Television Stations, CBS Radio, CBS Outdoor, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, CBS Consumer Products, CBS Home Entertainment, CBS Films and CBS EcoMedia. For more information, go to www.cbscorporation.com.”

Chieftain Capital Management Inc. holds 19.62% of its portfolio in CBS Corporation for 6.85 million shares. Tanaka Capital Management Inc owns 107,699 shares or 15.06% of their US portfolio. Moreover, Park Circle Co has 5.96% invested in the company for 151,725 shares. The California-based Dorsal Capital Management Llc has invested 5.42% in the stock. Harvey Capital Management Inc, a Florida-based fund reported 185,500 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 10 insider sales for $5.93 million net activity.

CBS Corporation (NYSE:CBS) Ratings Coverage

Ratings analysis reveals 76% of CBS Corp’s analysts are positive. Out of 21 Wall Street analysts rating CBS Corp, 16 give it “Buy”, 0 “Sell” rating, while 5 recommend “Hold”. The lowest target is $49 while the high is $75. The stock’s average target of $60.05 is -0.89% below today’s ($60.59) share price. CBS was included in 45 notes of analysts from August 6, 2015. Benchmark maintained the shares of CBS in a report on Tuesday, May 3 with “Buy” rating. Telsey Advisory Group maintained CBS Corporation (NYSE:CBS) rating on Friday, May 20. Telsey Advisory Group has “Outperform” rating and $67 price target. On Tuesday, August 18 the stock rating was maintained by Pivotal Research with “Buy”. The firm has “Buy” rating given on Friday, July 29 by Deutsche Bank. UBS maintained the stock with “Neutral” rating in Wednesday, March 16 report. The rating was upgraded by Deutsche Bank on Thursday, September 10 to “Buy”. The rating was maintained by Cowen & Co with “Buy” on Thursday, August 6. The firm has “Sector Weight” rating by Pacific Crest given on Friday, October 9. The stock has “Outperform” rating given by Telsey Advisory Group on Friday, February 5. The company was downgraded on Tuesday, August 18 by Wells Fargo.

CBS Company Profile

CBS Corporation, incorporated on November 10, 1986, is a mass media company. The Firm operates through divisions, including Entertainment, Cable Networks, Publishing and Local Broadcasting. The Firm operates businesses, which span the media and entertainment industries, including the CBS Television Network, cable networks, content production and distribution, television and radio stations, Internet businesses, and consumer publishing.

More news for CBS Corporation (NYSE:CBS) were recently published by: Prnewswire.com, which released: “CBS Corporation Reports Third Quarter 2016 Results” on November 03, 2016. Reuters.com‘s article titled: “BRIEF-CBS corporation announces quarterly dividend” and published on November 22, 2016 is yet another important article.

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By Richard Conner


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