Principal Financial Group Inc. Sells 15,005 Shares of Phibro Animal Health Co. (NASDAQ:PAHC)

Principal Financial Group Inc. cut its stake in Phibro Animal Health Co. (NASDAQ:PAHC) by 13.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 96,087 shares of the company’s stock after selling 15,005 shares during the quarter. Principal Financial Group Inc.’s holdings in Phibro Animal Health were worth $2,164,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in Phibro Animal Health by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 507,469 shares of the company’s stock worth $11,430,000 after purchasing an additional 27,201 shares during the last quarter. Barclays PLC boosted its holdings in shares of Phibro Animal Health by 25.7% in the 3rd quarter. Barclays PLC now owns 143,337 shares of the company’s stock worth $3,228,000 after buying an additional 29,271 shares during the last quarter. Zacks Investment Management bought a new stake in shares of Phibro Animal Health in the 3rd quarter worth approximately $274,000. Virtus Investment Advisers Inc. increased its holdings in Phibro Animal Health by 65.1% in the 3rd quarter. Virtus Investment Advisers Inc. now owns 24,344 shares of the company’s stock worth $548,000 after acquiring an additional 9,600 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Phibro Animal Health by 116.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 192,255 shares of the company’s stock valued at $4,330,000 after buying an additional 103,491 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

Analyst Ratings Changes

PAHC has been the subject of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on Phibro Animal Health in a research report on Tuesday, September 10th. They set a “neutral” rating and a $22.00 target price for the company. StockNews.com upgraded Phibro Animal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday. Morgan Stanley upped their target price on Phibro Animal Health from $20.00 to $25.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Finally, Barclays upped their price objective on shares of Phibro Animal Health from $13.00 to $20.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Phibro Animal Health has an average rating of “Hold” and a consensus target price of $20.50.

Phibro Animal Health Stock Performance

Shares of NASDAQ PAHC opened at $20.52 on Friday. The firm’s 50-day moving average price is $23.01 and its 200-day moving average price is $20.96. Phibro Animal Health Co. has a 52-week low of $10.03 and a 52-week high of $25.98. The company has a market cap of $831.12 million, a PE ratio of 47.72, a PEG ratio of 0.58 and a beta of 0.51. The company has a quick ratio of 1.69, a current ratio of 3.23 and a debt-to-equity ratio of 1.81.

Phibro Animal Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.48 dividend on an annualized basis and a yield of 2.34%. Phibro Animal Health’s dividend payout ratio is presently 111.63%.

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.