Innealta Capital LLC Buys Shares of 2,565 Central Garden & Pet (NASDAQ:CENTA)

Innealta Capital LLC purchased a new stake in shares of Central Garden & Pet (NASDAQ:CENTA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,565 shares of the company’s stock, valued at approximately $85,000.

Several other hedge funds have also modified their holdings of the company. GAMMA Investing LLC acquired a new position in Central Garden & Pet during the 4th quarter valued at about $35,000. CWM LLC increased its holdings in shares of Central Garden & Pet by 3,558.1% during the second quarter. CWM LLC now owns 1,134 shares of the company’s stock valued at $37,000 after acquiring an additional 1,103 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Central Garden & Pet by 37.4% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 1,650 shares of the company’s stock valued at $61,000 after purchasing an additional 449 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Central Garden & Pet by 16.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,511 shares of the company’s stock worth $83,000 after purchasing an additional 355 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Central Garden & Pet during the 1st quarter worth approximately $174,000. 50.82% of the stock is owned by hedge funds and other institutional investors.

Central Garden & Pet Price Performance

NASDAQ CENTA remained flat at $34.20 during trading hours on Friday. The company had a trading volume of 252,982 shares, compared to its average volume of 265,979. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 15.34 and a beta of 0.75. The firm has a fifty day moving average price of $33.45 and a 200-day moving average price of $35.42. 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 12 month low of $27.88 and a 12 month high of $41.03.

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

Insider Activity

In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total transaction of $48,740.80. Following the completion of the sale, the director now directly owns 40,743 shares in the company, valued at approximately $1,336,370.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total value of $48,740.80. Following the transaction, the director now owns 40,743 shares in the company, valued at approximately $1,336,370.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Ranelli sold 2,500 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $34.28, for a total transaction of $85,700.00. Following the sale, the director now directly owns 822 shares of the company’s stock, valued at approximately $28,178.16. The disclosure for this sale can be found here. Company insiders own 20.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CENTA. Argus raised shares of Central Garden & Pet to a “strong-buy” rating in a report on Tuesday, May 28th. JPMorgan Chase & Co. lowered their price target on Central Garden & Pet from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Canaccord Genuity Group raised shares of Central Garden & Pet to a “strong-buy” rating in a report on Monday, July 1st. Truist Financial upped their price target on shares of Central Garden & Pet from $45.00 to $50.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, StockNews.com downgraded Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Monday, July 1st. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Central Garden & Pet has a consensus rating of “Buy” and a consensus price target of $42.00.

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.