Central Garden & Pet (NASDAQ:CENTA) Director Brooks Pennington III Sells 1,486 Shares of Stock

Central Garden & Pet (NASDAQ:CENTA) Director Brooks Pennington III sold 1,486 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total value of $48,740.80. Following the completion of the sale, the director now owns 40,743 shares in the company, valued at $1,336,370.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Central Garden & Pet Stock Down 1.0 %

CENTA opened at $32.82 on Thursday. The business’s 50-day simple moving average is $33.48 and its 200-day simple moving average is $35.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.68 and a current ratio of 3.33. Central Garden & Pet has a one year low of $27.88 and a one year high of $41.03. The stock has a market capitalization of $2.21 billion, a P/E ratio of 14.72 and a beta of 0.75.

Central Garden & Pet (NASDAQ:CENTA) last posted its earnings results on Wednesday, August 7th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. Central Garden & Pet had a return on equity of 11.30% and a net margin of 4.49%. The business had revenue of $996.35 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the firm earned $1.40 earnings per share. Analysts anticipate that Central Garden & Pet will post 2.23 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CENTA. Argus upgraded Central Garden & Pet to a “strong-buy” rating in a research note on Tuesday, May 28th. JPMorgan Chase & Co. cut their price target on Central Garden & Pet from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Monness Crespi & Hardt raised their price target on Central Garden & Pet from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. StockNews.com cut Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Monday, July 1st. Finally, Truist Financial raised their price target on Central Garden & Pet from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $42.00.

Institutional Trading of Central Garden & Pet

A number of hedge funds and other institutional investors have recently made changes to their positions in CENTA. Nordea Investment Management AB increased its position in Central Garden & Pet by 33.1% in the 1st 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 Central Garden & Pet by 1,038.2% in the 1st quarter. Lazard Asset Management LLC now owns 129,744 shares of the company’s stock valued at $4,789,000 after acquiring an additional 118,345 shares during the period. Norges Bank acquired a new position in Central Garden & Pet in the 4th quarter valued at about $11,786,000. LSV Asset Management acquired a new position in Central Garden & Pet in the 4th quarter valued at about $5,409,000. Finally, Congress Asset Management Co. MA increased its position in Central Garden & Pet by 22.7% in the 1st quarter. Congress Asset Management Co. MA now owns 183,737 shares of the company’s stock valued at $6,784,000 after acquiring an additional 33,983 shares during the period. Institutional investors and hedge funds own 50.82% of the company’s stock.

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.