Causeway Capital Management LLC Acquires 107,117 Shares of Koninklijke Philips N.V. $PHG

Causeway Capital Management LLC grew its holdings in Koninklijke Philips N.V. (NYSE:PHG) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,958,112 shares of the technology company’s stock after purchasing an additional 107,117 shares during the period. Causeway Capital Management LLC owned about 0.20% of Koninklijke Philips worth $53,378,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PHG. Rhumbline Advisers lifted its holdings in shares of Koninklijke Philips by 1.3% during the second quarter. Rhumbline Advisers now owns 29,306 shares of the technology company’s stock valued at $703,000 after purchasing an additional 388 shares in the last quarter. Kitching Partners LLC increased its holdings in Koninklijke Philips by 4.2% in the 2nd quarter. Kitching Partners LLC now owns 11,259 shares of the technology company’s stock worth $270,000 after buying an additional 457 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Koninklijke Philips by 4.4% in the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 11,357 shares of the technology company’s stock worth $310,000 after buying an additional 478 shares in the last quarter. CWM LLC raised its position in Koninklijke Philips by 20.0% in the 3rd quarter. CWM LLC now owns 3,779 shares of the technology company’s stock worth $103,000 after buying an additional 629 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Koninklijke Philips by 6.3% in the 2nd quarter. Franklin Resources Inc. now owns 11,153 shares of the technology company’s stock worth $267,000 after buying an additional 665 shares during the last quarter. Hedge funds and other institutional investors own 13.67% of the company’s stock.

Koninklijke Philips Stock Performance

Shares of NYSE PHG opened at $29.39 on Tuesday. Koninklijke Philips N.V. has a 12-month low of $21.48 and a 12-month high of $33.44. The firm has a market capitalization of $28.30 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 6.06 and a beta of 0.77. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $29.86 and a 200 day moving average of $28.46.

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

Koninklijke Philips Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th will be paid a dividend of $1.013 per share. This is a boost from Koninklijke Philips’s previous annual dividend of $0.89. The ex-dividend date is Wednesday, May 13th. This represents a dividend yield of 318.0%. Koninklijke Philips’s dividend payout ratio is presently 77.36%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PHG. Wall Street Zen downgraded shares of Koninklijke Philips from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Sanford C. Bernstein upgraded shares of Koninklijke Philips to a “hold” rating in a research report on Wednesday, December 17th. Royal Bank Of Canada began coverage on shares of Koninklijke Philips in a report on Wednesday, December 17th. They issued a “sector perform” rating on the stock. Zacks Research raised shares of Koninklijke Philips from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings upgraded shares of Koninklijke Philips from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

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.