Mackenzie Financial Corp Sells 12,644 Shares of Phibro Animal Health Corporation (NASDAQ:PAHC)

Key Points

• Mackenzie Financial Corp reduced its holdings in Phibro Animal Health by 55.6% during the first quarter, owning 10,105 shares valued at $216,000 after selling 12,644 shares.
• Phibro Animal Health reported a quarterly earnings per share (EPS) of $0.63, exceeding estimates of $0.52, with revenue of $347.80 million compared to an expected $352.41 million.
• Phibro Animal Health announced a quarterly dividend of $0.12 per share, representing a dividend yield of 1.7%, with the payout ratio currently at 61.54%.

Mackenzie Financial Corp lessened its stake in Phibro Animal Health Corporation (NASDAQ:PAHC - Free Report) by 55.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,105 shares of the company's stock after selling 12,644 shares during the quarter. Mackenzie Financial Corp's holdings in Phibro Animal Health were worth $216,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Phibro Animal Health in the 4th quarter worth about $29,000. Lazard Asset Management LLC boosted its holdings in shares of Phibro Animal Health by 2,739.7% in the fourth quarter. Lazard Asset Management LLC now owns 1,647 shares of the company's stock valued at $34,000 after acquiring an additional 1,589 shares in the last quarter. Virtus Fund Advisers LLC bought a new position in shares of Phibro Animal Health in the fourth quarter valued at approximately $69,000. Aquatic Capital Management LLC bought a new position in shares of Phibro Animal Health in the fourth quarter valued at approximately $69,000. Finally, Curat Global LLC bought a new position in shares of Phibro Animal Health in the first quarter valued at approximately $146,000. Institutional investors and hedge funds own 99.34% of the company's stock.

Phibro Animal Health Stock Performance

NASDAQ:PAHC traded up $1.28 during midday trading on Wednesday, reaching $30.96. The stock had a trading volume of 337,134 shares, compared to its average volume of 259,600. Phibro Animal Health Corporation has a 1-year low of $16.16 and a 1-year high of $31.80. The firm's fifty day simple moving average is $27.17 and its 200-day simple moving average is $23.61. The company has a debt-to-equity ratio of 2.67, a current ratio of 2.91 and a quick ratio of 1.23. The stock has a market capitalization of $1.25 billion, a P/E ratio of 39.69, a PEG ratio of 0.48 and a beta of 0.80.

Phibro Animal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be paid a $0.12 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 1.6%. Phibro Animal Health's dividend payout ratio (DPR) is presently 61.54%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Phibro Animal Health from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $25.00 to $35.00 in a report on Monday, July 7th. BNP Paribas upgraded shares of Phibro Animal Health to a "hold" rating in a report on Monday, June 16th. Morgan Stanley set a $26.00 price objective on shares of Phibro Animal Health and gave the company an "equal weight" rating in a report on Wednesday, June 25th. BNP Paribas Exane upgraded shares of Phibro Animal Health from an "underperform" rating to a "neutral" rating and set a $24.00 price objective for the company in a report on Monday, June 16th. Finally, Wall Street Zen raised shares of Phibro Animal Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Phibro Animal Health has an average rating of "Hold" and a consensus target price of $24.40.

Phibro Animal Health Company Profile

Phibro Animal Health Corporation operates as an animal health and mineral nutrition company in the United States, Israel, Brazil, Ireland, and internationally. It operates through three segments: Animal Health, Mineral Nutrition, and Performance Products. The company develops, manufactures, and markets various products for food and companion animals including poultry, swine, beef and dairy cattle, aquaculture, and dogs.