Hotchkis & Wiley Capital Management LLC Has $417.27 Million Stake in Koninklijke Philips N.V. (PHG)
Hotchkis & Wiley Capital Management LLC lessened its position in shares of Koninklijke Philips N.V. (NYSE:PHG) by 19.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,127,954 shares of the technology company’s stock after selling 2,416,776 shares during the quarter. Koninklijke Philips comprises approximately 1.6% of Hotchkis & Wiley Capital Management LLC’s portfolio, making the stock its 19th largest position. Hotchkis & Wiley Capital Management LLC owned about 1.08% of Koninklijke Philips worth $417,272,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Koninklijke Philips by 54.6% in the second quarter. BlackRock Inc. now owns 4,111,212 shares of the technology company’s stock valued at $147,264,000 after purchasing an additional 1,452,699 shares during the period. Steadfast Capital Management LP raised its position in Koninklijke Philips by 150.2% in the second quarter. Steadfast Capital Management LP now owns 1,937,781 shares of the technology company’s stock valued at $69,411,000 after purchasing an additional 1,163,201 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Koninklijke Philips by 25.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,344,199 shares of the technology company’s stock valued at $191,429,000 after purchasing an additional 1,081,936 shares during the period. Ameriprise Financial Inc. raised its position in Koninklijke Philips by 263.4% in the third quarter. Ameriprise Financial Inc. now owns 1,492,082 shares of the technology company’s stock valued at $62,344,000 after purchasing an additional 1,081,468 shares during the period. Finally, TPG Group Holdings SBS Advisors Inc. purchased a new stake in Koninklijke Philips in the second quarter valued at approximately $22,328,000. 7.28% of the stock is currently owned by hedge funds and other institutional investors.
PHG has been the topic of a number of research analyst reports. Zacks Investment Research raised Koninklijke Philips from a “hold” rating to a “strong-buy” rating and set a $44.00 target price on the stock in a research report on Tuesday, August 29th. BNP Paribas lowered Koninklijke Philips from an “outperform” rating to a “neutral” rating in a research report on Monday, October 16th. Citigroup reissued a “buy” rating on shares of Koninklijke Philips in a research report on Tuesday, October 24th. Finally, J P Morgan Chase & Co lowered Koninklijke Philips from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $41.50.
Koninklijke Philips N.V. (NYSE PHG) traded down $0.52 during trading hours on Thursday, hitting $38.40. 1,262,100 shares of the company’s stock traded hands, compared to its average volume of 1,601,196. The firm has a market capitalization of $36,462.63, a P/E ratio of 28.83, a price-to-earnings-growth ratio of 3.80 and a beta of 1.41. The company has a current ratio of 1.40, a quick ratio of 1.15 and a debt-to-equity ratio of 0.34. Koninklijke Philips N.V. has a fifty-two week low of $28.19 and a fifty-two week high of $42.35.
Koninklijke Philips (NYSE:PHG) last posted its quarterly earnings results on Monday, October 23rd. The technology company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.04). The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.27 billion. Koninklijke Philips had a return on equity of 7.19% and a net margin of 6.67%. The business’s revenue was down 29.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS. research analysts expect that Koninklijke Philips N.V. will post 1.37 earnings per share for the current fiscal year.
In other Koninklijke Philips news, major shareholder Philips Nv Koninklijke sold 3,334,586 shares of the business’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $1.50, for a total value of $5,001,879.00. Following the completion of the transaction, the insider now owns 29,693,444 shares in the company, valued at $44,540,166. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
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Koninklijke Philips Company Profile
Koninklijke Philips N.V. is the Netherlands-based health technology company. The Company’s segments include Personal Health businesses, Diagnosis & Treatment businesses, Connected Care & Health Informatics businesses, HealthTech Other and Legacy Items. The Personal Health businesses segment is engaged in the health continuum, delivering integrated, connected solutions that support healthier lifestyles and those living with chronic disease.
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