Short Interest in Central Garden & Pet (NASDAQ:CENTA) Rises By 5.8%

Central Garden & Pet (NASDAQ:CENTA) was the recipient of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 1,280,000 shares, a growth of 5.8% from the June 30th total of 1,210,000 shares. Based on an average daily trading volume, of 271,200 shares, the days-to-cover ratio is presently 4.7 days.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. StockNews.com downgraded Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Monday, July 1st. Monness Crespi & Hardt raised their target price on Central Garden & Pet from $39.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Truist Financial upped their price target on Central Garden & Pet from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, May 13th. JPMorgan Chase & Co. dropped their price objective on shares of Central Garden & Pet from $40.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Finally, Argus upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research note on Tuesday, May 28th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $40.50.

Insider Buying and Selling

In related news, insider John D. Walker III sold 4,218 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $40.31, for a total value of $170,027.58. Following the sale, the insider now directly owns 85,063 shares of the company’s stock, valued at $3,428,889.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Central Garden & Pet news, insider John D. Walker III sold 4,218 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $40.31, for a total transaction of $170,027.58. Following the completion of the sale, the insider now owns 85,063 shares of the company’s stock, valued at $3,428,889.53. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Howard Machek sold 10,000 shares of the company’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 sale, the chief accounting officer now owns 51,474 shares of the company’s stock, valued at $2,061,533.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 714,218 shares of company stock worth $25,945,528. 20.28% of the stock is owned by company insiders.

Institutional Trading of Central Garden & Pet

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB increased its stake in shares of Central Garden & Pet by 33.1% during the first quarter. Nordea Investment Management AB now owns 181,017 shares of the company’s stock valued at $6,739,000 after acquiring an additional 44,969 shares during the period. Lazard Asset Management LLC increased its position in shares of Central Garden & Pet by 1,038.2% during the 1st quarter. Lazard Asset Management LLC now owns 129,744 shares of the company’s stock valued at $4,789,000 after purchasing an additional 118,345 shares during the period. Norges Bank bought a new stake in shares of Central Garden & Pet in the 4th quarter worth $11,786,000. LSV Asset Management acquired a new stake in shares of Central Garden & Pet in the fourth quarter valued at $5,409,000. Finally, Congress Asset Management Co. MA lifted its holdings in shares of Central Garden & Pet by 22.7% in the first quarter. Congress Asset Management Co. MA now owns 183,737 shares of the company’s stock valued at $6,784,000 after buying an additional 33,983 shares during the period. 50.82% of the stock is currently owned by institutional investors.

Central Garden & Pet Stock Performance

NASDAQ:CENTA traded down $0.23 during mid-day trading on Thursday, hitting $34.13. The stock had a trading volume of 287,084 shares, compared to its average volume of 263,132. Central Garden & Pet has a 52 week low of $27.88 and a 52 week high of $41.03. The company has a current ratio of 3.33, a quick ratio of 1.68 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 15.33 and a beta of 0.75. The company has a 50 day simple moving average of $34.38 and a 200-day simple moving average of $35.42.

Central Garden & Pet (NASDAQ:CENTA) last released 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. 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 for the quarter, compared to analysts’ expectations of $895.68 million. On average, research analysts expect that Central Garden & Pet will post 2.23 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.