Koninklijke Philips N.V. (NYSE:PHG) Sees Significant Decline in Short Interest

Key Points

• Short interest fell sharply — down 37.2% to 1,674,460 shares as of Jan. 30, equal to about 0.2% of shares and a short-interest ratio of 2.4 days based on average volume.
• Earnings beat — Philips reported $0.70 EPS vs. $0.50 expected and revenue of $5.98 billion vs. $5.03 billion consensus, reflecting stronger-than-expected quarterly performance.
• Dividend increase — the company raised its annual dividend to $1.013 per share (from $0.89), payable June 3 with an ex-dividend date of May 13.

Koninklijke Philips N.V. (NYSE:PHG - Get Free Report) was the target of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 1,674,460 shares, a decrease of 37.2% from the January 15th total of 2,667,267 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 700,274 shares, the short-interest ratio is currently 2.4 days. Based on an average trading volume of 700,274 shares, the short-interest ratio is currently 2.4 days. Currently, 0.2% of the shares of the company are sold short.

Koninklijke Philips Trading Down 1.0%

PHG stock traded down $0.32 during midday trading on Friday, hitting $31.09. The stock had a trading volume of 457,287 shares, compared to its average volume of 1,018,115. The business has a fifty day moving average price of $28.45 and a two-hundred day moving average price of $27.96. The company has a current ratio of 1.32, a quick ratio of 0.86 and a debt-to-equity ratio of 0.63. Koninklijke Philips has a 1-year low of $21.48 and a 1-year high of $33.44. The firm has a market cap of $29.94 billion, a P/E ratio of 29.36, a price-to-earnings-growth ratio of 0.91 and a beta of 0.79.

Koninklijke Philips (NYSE:PHG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.20. The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.03 billion. Koninklijke Philips had a net margin of 5.09% and a return on equity of 13.68%. On average, sell-side analysts predict that Koninklijke Philips will post 1.63 earnings per share for the current fiscal year.

Koninklijke Philips Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be issued a dividend of $1.013 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This is a positive change from Koninklijke Philips's previous annual dividend of $0.89. This represents a dividend yield of 318.0%. Koninklijke Philips's dividend payout ratio is presently 410.00%.

Analysts Set New Price Targets

Several brokerages have recently commented on PHG. Zacks Research downgraded Koninklijke Philips from a "hold" rating to a "strong sell" rating in a report on Wednesday, January 14th. Wall Street Zen upgraded shares of Koninklijke Philips from a "hold" rating to a "buy" rating in a research report on Saturday, January 10th. Sanford C. Bernstein upgraded shares of Koninklijke Philips to a "hold" rating in a report on Wednesday, December 17th. Royal Bank Of Canada started coverage on Koninklijke Philips in a research note on Wednesday, December 17th. They issued a "sector perform" rating on the stock. Finally, Weiss Ratings upgraded Koninklijke Philips from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, January 12th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold".

Institutional Trading of Koninklijke Philips

Several institutional investors have recently made changes to their positions in PHG. Johnson Financial Group Inc. purchased a new stake in Koninklijke Philips during the third quarter valued at $27,000. Flagship Harbor Advisors LLC bought a new stake in shares of Koninklijke Philips in the 4th quarter worth about $31,000. CIBC Private Wealth Group LLC raised its position in shares of Koninklijke Philips by 179.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,272 shares of the technology company's stock valued at $34,000 after buying an additional 817 shares in the last quarter. AlphaCore Capital LLC bought a new position in shares of Koninklijke Philips in the 2nd quarter valued at about $41,000. Finally, Whipplewood Advisors LLC grew its position in Koninklijke Philips by 39.1% in the second quarter. Whipplewood Advisors LLC now owns 2,108 shares of the technology company's stock worth $51,000 after acquiring an additional 592 shares in the last quarter. Hedge funds and other institutional investors own 13.67% of the company's stock.

About Koninklijke Philips

Koninklijke Philips N.V. NYSE: PHG, commonly known as Philips, is a Dutch multinational company focused on health technology. Founded in Eindhoven in 1891, the company evolved from a diversified electronics manufacturer into a specialist in healthcare products, systems and services. Philips is legally registered in the Netherlands and operates globally, supplying equipment and solutions to hospitals, clinics, healthcare providers and consumers across Europe, the Americas and Asia.

Philips' principal activities center on medical technologies and personal health.

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