Koninklijke Philips N.V. $PHG Shares Sold by Causeway Capital Management LLC

Key Points

• Causeway Capital Management LLC reduced its stake in Koninklijke Philips N.V. by 2.2%, selling 35,038 shares, resulting in ownership of approximately 1.53 million shares valued at about $38.9 million.
• Analysts have downgraded Koninklijke Philips from a "buy" rating to a "hold" rating, though the stock still maintains a consensus rating of "buy" overall.
• The company recently reported quarterly earnings of $0.41 EPS, surpassing estimates, with revenues of $5.05 billion compared to expectations of $4.35 billion.

Causeway Capital Management LLC cut its stake in shares of Koninklijke Philips N.V. (NYSE:PHG - Free Report) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,531,812 shares of the technology company's stock after selling 35,038 shares during the period. Causeway Capital Management LLC owned approximately 0.16% of Koninklijke Philips worth $38,908,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PHG. Fiduciary Management Inc. WI increased its position in shares of Koninklijke Philips by 21.7% during the first quarter. Fiduciary Management Inc. WI now owns 7,515,737 shares of the technology company's stock valued at $190,900,000 after acquiring an additional 1,339,055 shares during the last quarter. Northern Trust Corp increased its position in shares of Koninklijke Philips by 36.6% during the fourth quarter. Northern Trust Corp now owns 1,608,749 shares of the technology company's stock valued at $40,734,000 after acquiring an additional 430,757 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Koninklijke Philips by 3,094.8% during the first quarter. GAMMA Investing LLC now owns 350,241 shares of the technology company's stock valued at $8,896,000 after acquiring an additional 339,278 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Koninklijke Philips in the fourth quarter valued at approximately $3,039,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Koninklijke Philips by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,396,095 shares of the technology company's stock valued at $111,662,000 after purchasing an additional 106,044 shares during the period. 13.67% of the stock is currently owned by institutional investors and hedge funds.

Koninklijke Philips Stock Up 0.0%

Koninklijke Philips stock traded up $0.01 during trading on Friday, reaching $27.59. The stock had a trading volume of 1,019,659 shares, compared to its average volume of 813,772. Koninklijke Philips N.V. has a 52-week low of $21.48 and a 52-week high of $32.91. The business has a 50 day moving average price of $25.76 and a 200 day moving average price of $25.01. The company has a quick ratio of 0.81, a current ratio of 1.26 and a debt-to-equity ratio of 0.69. The stock has a market cap of $26.56 billion, a PE ratio of 145.18, a P/E/G ratio of 0.75 and a beta of 0.75.

Koninklijke Philips (NYSE:PHG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.12. Koninklijke Philips had a net margin of 1.00% and a return on equity of 11.95%. The company had revenue of $5.05 billion during the quarter, compared to the consensus estimate of $4.35 billion. On average, analysts predict that Koninklijke Philips N.V. will post 1.63 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Koninklijke Philips from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy".

About Koninklijke Philips

Koninklijke Philips N.V. operates as a health technology company in North America, the Greater China, and internationally. The company operates through Diagnosis & Treatment Businesses, Connected Care Businesses, and Personal Health Businesses segments. It also provides diagnostic imaging solutions, includes magnetic resonance imaging, X-ray systems, and computed tomography (CT) systems and software comprising detector-based spectral CT solutions, as well as molecular and hybrid imaging solutions for nuclear medicine; echography solutions focused on diagnosis, treatment planning and guidance for cardiology, general imaging, obstetrics/gynecology, and point-of-care applications; integrated interventional systems, and interventional diagnostic and therapeutic devices to treat coronary artery and peripheral vascular disease.