Central Garden & Pet (NASDAQ:CENTA) Stake Lessened by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in Central Garden & Pet (NASDAQ:CENTA) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,035,082 shares of the company’s stock after selling 65,669 shares during the period. Allspring Global Investments Holdings LLC owned about 3.10% of Central Garden & Pet worth $66,120,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC boosted its holdings in Central Garden & Pet by 72.6% in the third quarter. CWM LLC now owns 1,957 shares of the company’s stock worth $61,000 after purchasing an additional 823 shares during the period. KBC Group NV boosted its holdings in Central Garden & Pet by 43.8% in the third quarter. KBC Group NV now owns 2,402 shares of the company’s stock worth $75,000 after purchasing an additional 732 shares during the period. Quantbot Technologies LP boosted its holdings in Central Garden & Pet by 253.7% in the third quarter. Quantbot Technologies LP now owns 3,891 shares of the company’s stock worth $122,000 after purchasing an additional 2,791 shares during the period. Point72 DIFC Ltd boosted its holdings in Central Garden & Pet by 32.0% in the third quarter. Point72 DIFC Ltd now owns 6,154 shares of the company’s stock worth $193,000 after purchasing an additional 1,492 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Central Garden & Pet in the third quarter worth $194,000. Institutional investors own 50.82% of the company’s stock.

Insider Activity at Central Garden & Pet

In other Central Garden & Pet news, insider John D. Walker III sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $32.86, for a total transaction of $328,600.00. Following the completion of the sale, the insider now owns 67,111 shares of the company’s stock, valued at $2,205,267.46. This represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 20.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CENTA has been the topic of several research reports. Argus cut shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price target on shares of Central Garden & Pet from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, StockNews.com upgraded Central Garden & Pet from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Central Garden & Pet Trading Up 1.9 %

NASDAQ:CENTA opened at $33.51 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.47 and a quick ratio of 2.19. Central Garden & Pet has a fifty-two week low of $27.70 and a fifty-two week high of $41.03. The stock’s 50-day moving average is $32.51 and its two-hundred day moving average is $32.27. The stock has a market cap of $2.20 billion, a PE ratio of 18.41 and a beta of 0.76.

Central Garden & Pet (NASDAQ:CENTA) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.24. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. As a group, equities research analysts forecast that Central Garden & Pet will post 2.2 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.