Short Interest in Central Garden & Pet (NASDAQ:CENT) Expands By 5.1%

Central Garden & Pet (NASDAQ:CENT) saw a large growth in short interest in June. As of June 30th, there was short interest totalling 1,240,000 shares, a growth of 5.1% from the June 15th total of 1,180,000 shares. Based on an average daily volume of 105,900 shares, the short-interest ratio is presently 11.7 days. Currently, 13.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CENT. Monness Crespi & Hardt upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research report on Thursday, May 9th. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research report on Monday, July 1st. Argus raised Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, May 28th. Finally, Canaccord Genuity Group dropped their target price on Central Garden & Pet from $52.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, July 1st. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $52.75.

Insider Activity

In related news, CFO Nicholas Lahanas sold 30,000 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $39.98, for a total transaction of $1,199,400.00. Following the completion of the sale, the chief financial officer now owns 87,528 shares in the company, valued at approximately $3,499,369.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Howard Machek sold 10,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $40.05, for a total transaction of $400,500.00. Following the sale, the chief accounting officer now owns 51,474 shares in the company, valued at $2,061,533.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Nicholas Lahanas sold 30,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $39.98, for a total value of $1,199,400.00. Following the completion of the sale, the chief financial officer now owns 87,528 shares of the company’s stock, valued at $3,499,369.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 744,218 shares of company stock worth $27,144,928. Corporate insiders own 9.53% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

Several institutional investors have recently modified their holdings of CENT. Orchard Capital Management LLC grew its holdings in Central Garden & Pet by 5.6% during the fourth quarter. Orchard Capital Management LLC now owns 169,107 shares of the company’s stock valued at $8,474,000 after purchasing an additional 8,914 shares during the period. Principal Financial Group Inc. lifted its position in Central Garden & Pet by 6.8% during the 1st quarter. Principal Financial Group Inc. now owns 53,039 shares of the company’s stock worth $2,272,000 after buying an additional 3,397 shares in the last quarter. ProShare Advisors LLC grew its stake in Central Garden & Pet by 92.6% in the first quarter. ProShare Advisors LLC now owns 51,117 shares of the company’s stock valued at $2,189,000 after purchasing an additional 24,575 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Central Garden & Pet by 32.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,862 shares of the company’s stock valued at $1,793,000 after purchasing an additional 10,237 shares during the period. Finally, Values First Advisors Inc. lifted its position in shares of Central Garden & Pet by 7.3% in the fourth quarter. Values First Advisors Inc. now owns 9,941 shares of the company’s stock valued at $498,000 after buying an additional 673 shares during the last quarter. 16.13% of the stock is currently owned by institutional investors and hedge funds.

Central Garden & Pet Trading Up 1.2 %

NASDAQ CENT traded up $0.48 during trading hours on Wednesday, hitting $40.38. The company’s stock had a trading volume of 26,554 shares, compared to its average volume of 112,958. Central Garden & Pet has a twelve month low of $30.75 and a twelve month high of $47.48. The firm has a market capitalization of $2.72 billion, a P/E ratio of 17.92 and a beta of 0.78. The company has a quick ratio of 1.68, a current ratio of 3.33 and a debt-to-equity ratio of 0.79. The stock has a fifty day moving average of $41.43 and a 200 day moving average of $40.80.

Central Garden & Pet (NASDAQ:CENT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.16. The company had revenue of $900.10 million for the quarter, compared to the consensus estimate of $888.74 million. Central Garden & Pet had a return on equity of 11.30% and a net margin of 4.49%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 EPS. Equities research analysts forecast that Central Garden & Pet will post 2.28 earnings per share for the current fiscal year.

About Central Garden & Pet

Central Garden & Pet Company produces and distributes various products for the lawn and garden, and pet supplies markets in the United States. It operates through two segments: Pet and Garden. The Pet segment provides dog and cat supplies, such as dog treats and chews, toys, pet beds and containment, grooming products, waste management, and training pads; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; products for equine and livestock; animal and household health and insect control products; aquariums and terrariums, including fixtures and stands, water conditioners and supplements, water pumps and filters, and lighting systems and accessories; and live fish and small animals, as well as outdoor cushions.