Central Garden & Pet (NASDAQ:CENT) Chairman William E. Brown Sells 700,000 Shares

Central Garden & Pet (NASDAQ:CENT) Chairman William E. Brown sold 700,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $36.25, for a total transaction of $25,375,000.00. Following the transaction, the chairman now directly owns 1,189,615 shares of the company’s stock, valued at $43,123,543.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Central Garden & Pet Stock Performance

Shares of CENT stock remained flat at $43.45 during midday trading on Friday. 61,408 shares of the company traded hands, compared to its average volume of 107,532. Central Garden & Pet has a 1-year low of $28.94 and a 1-year high of $47.48. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 19.52 and a beta of 0.72. The firm has a 50 day moving average price of $42.69 and a 200 day moving average price of $38.35. The company has a quick ratio of 1.68, a current ratio of 3.33 and a debt-to-equity ratio of 0.79.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.16. The company had revenue of $900.10 million during the quarter, compared to analysts’ expectations of $888.74 million. Central Garden & Pet had a return on equity of 11.30% and a net margin of 4.49%. The business’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 earnings per share. Analysts expect that Central Garden & Pet will post 2.28 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CENT. Orchard Capital Management LLC grew its stake in shares of Central Garden & Pet by 5.6% in the fourth quarter. Orchard Capital Management LLC now owns 169,107 shares of the company’s stock valued at $8,474,000 after acquiring an additional 8,914 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Central Garden & Pet by 6.8% during the 1st quarter. Principal Financial Group Inc. now owns 53,039 shares of the company’s stock worth $2,272,000 after purchasing an additional 3,397 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Central Garden & Pet by 92.6% during the first quarter. ProShare Advisors LLC now owns 51,117 shares of the company’s stock worth $2,189,000 after purchasing an additional 24,575 shares during the period. GSA Capital Partners LLP raised its position in shares of Central Garden & Pet by 22.6% in the third quarter. GSA Capital Partners LLP now owns 43,616 shares of the company’s stock valued at $1,925,000 after buying an additional 8,042 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Central Garden & Pet by 32.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,862 shares of the company’s stock valued at $1,793,000 after buying an additional 10,237 shares during the period. Institutional investors own 16.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. TheStreet raised shares of Central Garden & Pet from a “c+” rating to a “b-” rating in a research report on Friday, March 1st. Canaccord Genuity Group initiated coverage on Central Garden & Pet in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price objective for the company. Truist Financial upped their target price on Central Garden & Pet from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Canaccord Genuity Group initiated coverage on shares of Central Garden & Pet in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target on the stock. Finally, Monness Crespi & Hardt raised shares of Central Garden & Pet to a “strong-buy” rating in a research report on Thursday, May 9th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $53.50.

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.