William E. Brown Sells 60,000 Shares of Central Garden & Pet (NASDAQ:CENT) Stock

Central Garden & Pet (NASDAQ:CENT) Chairman William E. Brown sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $33.54, for a total value of $2,012,400.00. Following the completion of the sale, the chairman now directly owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Central Garden & Pet Price Performance

Shares of Central Garden & Pet stock traded down $0.22 during midday trading on Tuesday, hitting $39.25. 119,093 shares of the company were exchanged, compared to its average volume of 113,528. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. The firm has a market cap of $2.65 billion, a P/E ratio of 17.79 and a beta of 0.78. Central Garden & Pet has a 52 week low of $30.75 and a 52 week high of $47.48. The firm has a 50 day simple moving average of $38.87 and a 200-day simple moving average of $41.05.

Central Garden & Pet (NASDAQ:CENT) last posted its earnings results on Wednesday, August 7th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.21 by $0.11. The business had revenue of $996.35 million during the quarter, compared to the consensus estimate of $1 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. Central Garden & Pet’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the company earned $1.40 EPS. Research analysts forecast that Central Garden & Pet will post 2.11 earnings per share for the current year.

Hedge Funds Weigh In On Central Garden & Pet

Hedge funds and other institutional investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale bought a new position in shares of Central Garden & Pet during the 2nd quarter worth approximately $51,000. Point72 Asset Management L.P. bought a new position in Central Garden & Pet in the 2nd quarter valued at $113,000. EntryPoint Capital LLC raised its position in Central Garden & Pet by 909.2% in the 1st quarter. EntryPoint Capital LLC now owns 4,269 shares of the company’s stock valued at $183,000 after purchasing an additional 3,846 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Central Garden & Pet in the 2nd quarter valued at $187,000. Finally, Hsbc Holdings PLC bought a new position in Central Garden & Pet in the 2nd quarter valued at $207,000. Institutional investors own 16.13% of the company’s stock.

Analyst Upgrades and Downgrades

CENT has been the topic of a number of research analyst reports. Argus raised Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, May 28th. Canaccord Genuity Group upgraded Central Garden & Pet to a “strong-buy” rating in a research report on Monday, July 1st. Canaccord Genuity Group reduced their price objective 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. Finally, Monness Crespi & Hardt upgraded Central Garden & Pet to a “strong-buy” rating in a research report on Thursday, May 9th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $52.75.

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.