Bayesian Capital Management LP Purchases New Shares in Central Garden & Pet (NASDAQ:CENTA)

Bayesian Capital Management LP purchased a new stake in shares of Central Garden & Pet (NASDAQ:CENTA) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,315 shares of the company’s stock, valued at approximately $418,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CENTA. GAMMA Investing LLC bought a new position in Central Garden & Pet in the 4th quarter valued at $35,000. Public Employees Retirement Association of Colorado grew its position in shares of Central Garden & Pet by 37.4% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 1,650 shares of the company’s stock worth $61,000 after buying an additional 449 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Central Garden & Pet during the 1st quarter worth $174,000. Ameritas Investment Partners Inc. grew its position in shares of Central Garden & Pet by 31.1% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,133 shares of the company’s stock worth $190,000 after buying an additional 1,219 shares in the last quarter. Finally, North Star Investment Management Corp. bought a new position in shares of Central Garden & Pet during the 1st quarter worth $194,000. Hedge funds and other institutional investors own 50.82% of the company’s stock.

Central Garden & Pet Stock Down 1.0 %

Central Garden & Pet stock traded down $0.36 during midday trading on Wednesday, reaching $33.96. The company’s stock had a trading volume of 2,056 shares, compared to its average volume of 261,182. The stock’s 50-day simple moving average is $34.49 and its 200-day simple moving average is $35.43. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.33 and a quick ratio of 1.68. Central Garden & Pet has a 52-week low of $27.88 and a 52-week high of $41.03. The stock has a market capitalization of $2.29 billion, a P/E ratio of 15.42 and a beta of 0.75.

Central Garden & Pet (NASDAQ:CENTA) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.16. Central Garden & Pet had a return on equity of 11.30% and a net margin of 4.49%. The company had revenue of $900.09 million during the quarter, compared to analysts’ expectations of $895.68 million. On average, sell-side analysts expect that Central Garden & Pet will post 2.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CENTA. StockNews.com downgraded Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Monday, July 1st. JPMorgan Chase & Co. dropped their price target on Central Garden & Pet from $40.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Truist Financial raised their price objective on Central Garden & Pet from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Monness Crespi & Hardt raised their price objective on Central Garden & Pet from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a research report on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $40.50.

Insider Transactions at Central Garden & Pet

In other news, CAO Howard Machek sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $40.05, for a total value of $400,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 51,474 shares in the company, valued at $2,061,533.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Howard Machek sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $40.05, for a total value of $400,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 51,474 shares in the company, valued at $2,061,533.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John D. Walker III sold 4,218 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $40.31, for a total value of $170,027.58. Following the completion of the transaction, the insider now owns 85,063 shares of the company’s stock, valued at $3,428,889.53. The disclosure for this sale can be found here. Insiders sold a total of 714,218 shares of company stock worth $25,945,528 over the last three months. 20.28% of the stock is currently owned by insiders.

Central Garden & Pet Company Profile

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.