Koninklijke Philips N.V. (NYSE:PHG) Sees Large Decrease in Short Interest

Koninklijke Philips N.V. (NYSE:PHG) was the recipient of a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 1,674,460 shares, a decline of 37.2% from the January 15th total of 2,667,267 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 700,274 shares, the days-to-cover ratio is presently 2.4 days. Based on an average daily volume of 700,274 shares, the days-to-cover ratio is presently 2.4 days. Currently, 0.2% of the company’s shares are sold short.

Koninklijke Philips Price Performance

Shares of Koninklijke Philips stock traded down $0.32 on Friday, reaching $31.09. The company’s stock had a trading volume of 457,287 shares, compared to its average volume of 1,018,115. Koninklijke Philips has a 52-week low of $21.48 and a 52-week high of $33.44. The stock has a 50-day moving average price of $28.45 and a 200-day moving average price of $27.96. The company has a quick ratio of 0.86, a current ratio of 1.32 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $29.94 billion, a P/E ratio of 29.36, a PEG ratio of 0.91 and a beta of 0.79.

Koninklijke Philips (NYSE:PHG) last released its quarterly earnings results on Tuesday, February 10th. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.20. Koninklijke Philips had a return on equity of 13.68% and a net margin of 5.09%.The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.03 billion. Analysts expect that Koninklijke Philips will post 1.63 EPS for the current year.

Koninklijke Philips Increases Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be issued a $1.013 dividend. This represents a dividend yield of 318.0%. 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. Koninklijke Philips’s payout ratio is currently 410.00%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PHG. Oppenheimer Asset Management Inc. boosted its stake in shares of Koninklijke Philips by 15.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 189,720 shares of the technology company’s stock valued at $4,549,000 after purchasing an additional 24,931 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in Koninklijke Philips by 646.3% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 64,084 shares of the technology company’s stock valued at $1,747,000 after buying an additional 55,497 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Koninklijke Philips by 2.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,351,015 shares of the technology company’s stock worth $32,397,000 after buying an additional 32,663 shares in the last quarter. Investment Management Associates Inc. ADV bought a new position in shares of Koninklijke Philips in the 2nd quarter valued at $12,122,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Koninklijke Philips by 125.2% during the 2nd quarter. Bessemer Group Inc. now owns 4,443 shares of the technology company’s stock valued at $106,000 after acquiring an additional 2,470 shares in the last quarter. Institutional investors and hedge funds own 13.67% of the company’s stock.

Koninklijke Philips Company Profile

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.