Central Garden & Pet (NASDAQ:CENTA) Lowered to “Hold” at StockNews.com

Central Garden & Pet (NASDAQ:CENTA) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Several other analysts also recently commented on the stock. Argus upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research report on Tuesday, May 28th. Truist Financial boosted their price objective on shares of Central Garden & Pet from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Monness Crespi & Hardt boosted their price objective on shares of Central Garden & Pet from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.75.

Central Garden & Pet Stock Up 1.1 %

Central Garden & Pet stock traded up $0.35 during trading on Monday, reaching $33.38. The stock had a trading volume of 270,676 shares, compared to its average volume of 260,149. Central Garden & Pet has a 52-week low of $27.88 and a 52-week high of $41.03. The business has a 50 day moving average price of $36.32 and a 200 day moving average price of $34.90. The company has a quick ratio of 1.68, a current ratio of 3.33 and a debt-to-equity ratio of 0.79. The stock has a market cap of $2.25 billion, a PE ratio of 15.00 and a beta of 0.75.

Central Garden & Pet (NASDAQ:CENTA) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.16. The business had revenue of $900.09 million during the quarter, compared to the consensus estimate of $895.68 million. Central Garden & Pet had a net margin of 4.49% and a return on equity of 11.30%. On average, analysts predict that Central Garden & Pet will post 2.28 EPS for the current year.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, insider John D. Walker III sold 4,218 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $40.31, for a total value of $170,027.58. Following the transaction, the insider now directly owns 85,063 shares in the company, valued at approximately $3,428,889.53. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Chairman William E. Brown sold 700,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were 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 in the company, valued at approximately $43,123,543.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John D. Walker III sold 4,218 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $40.31, for a total transaction of $170,027.58. Following the transaction, the insider now owns 85,063 shares in the company, valued at $3,428,889.53. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 714,218 shares of company stock worth $25,945,528. Corporate insiders own 20.28% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CENTA. Norges Bank acquired a new stake in Central Garden & Pet during the 4th quarter worth approximately $11,786,000. LSV Asset Management acquired a new stake in Central Garden & Pet during the 4th quarter worth approximately $5,409,000. Congress Asset Management Co. MA increased its position in Central Garden & Pet by 22.7% during the 1st quarter. Congress Asset Management Co. MA now owns 183,737 shares of the company’s stock worth $6,784,000 after purchasing an additional 33,983 shares in the last quarter. Westwood Holdings Group Inc. grew its position in Central Garden & Pet by 12.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 800,109 shares of the company’s stock valued at $35,237,000 after acquiring an additional 87,802 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Central Garden & Pet in the fourth quarter valued at approximately $281,000. 50.82% of the stock is currently owned by hedge funds and other institutional investors.

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.