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 trimmed its position in Phibro Animal Health Corporation (NASDAQ:PAHC - Free Report) by 55.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PAHC. Vanguard Group Inc. lifted its holdings in shares of Phibro Animal Health by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,514,736 shares of the company's stock worth $31,809,000 after buying an additional 20,604 shares during the last quarter. Nuveen Asset Management LLC increased its position in Phibro Animal Health by 21.4% during the fourth quarter. Nuveen Asset Management LLC now owns 588,001 shares of the company's stock worth $12,348,000 after acquiring an additional 103,618 shares during the period. Renaissance Technologies LLC raised its stake in Phibro Animal Health by 1.9% during the 4th quarter. Renaissance Technologies LLC now owns 557,800 shares of the company's stock valued at $11,714,000 after purchasing an additional 10,600 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Phibro Animal Health by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 515,979 shares of the company's stock valued at $10,838,000 after purchasing an additional 8,510 shares during the period. Finally, CastleKnight Management LP grew its position in Phibro Animal Health by 6.2% in the 4th quarter. CastleKnight Management LP now owns 389,433 shares of the company's stock worth $8,178,000 after purchasing an additional 22,796 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PAHC. BNP Paribas Exane raised 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 research report on Monday, June 16th. JPMorgan Chase & Co. raised Phibro Animal Health from a "neutral" rating to an "overweight" rating and upped their price target for the company from $25.00 to $35.00 in a report on Monday, July 7th. Morgan Stanley set a $26.00 price objective on Phibro Animal Health and gave the stock an "equal weight" rating in a report on Wednesday, June 25th. BNP Paribas raised Phibro Animal Health to a "hold" rating in a research 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 report 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Phibro Animal Health presently has a consensus rating of "Hold" and an average target price of $24.40.

Phibro Animal Health Price Performance

Shares of NASDAQ:PAHC traded down $0.65 on Thursday, hitting $30.32. The stock had a trading volume of 81,767 shares, compared to its average volume of 258,950. The firm's 50 day moving average price is $27.31 and its 200-day moving average price is $23.66. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.23 and a current ratio of 2.91. Phibro Animal Health Corporation has a twelve month low of $16.16 and a twelve month high of $31.80. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 38.87, a price-to-earnings-growth ratio of 0.50 and a beta of 0.80.

Phibro Animal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Wednesday, September 3rd. Phibro Animal Health's dividend payout ratio is currently 61.54%.

Phibro Animal Health 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.