Silvercrest Asset Management Group LLC Grows Stock Holdings in Central Garden & Pet (NASDAQ:CENTA)

Silvercrest Asset Management Group LLC grew its holdings in Central Garden & Pet (NASDAQ:CENTA) by 7.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,112,400 shares of the company’s stock after purchasing an additional 74,256 shares during the quarter. Silvercrest Asset Management Group LLC owned approximately 1.65% of Central Garden & Pet worth $41,070,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CENTA. GAMMA Investing LLC bought a new position in shares of Central Garden & Pet during the 4th quarter worth approximately $35,000. Public Employees Retirement Association of Colorado raised its holdings in shares of Central Garden & Pet by 37.4% in the first quarter. Public Employees Retirement Association of Colorado now owns 1,650 shares of the company’s stock worth $61,000 after buying an additional 449 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Central Garden & Pet in the first quarter worth $174,000. Brighton Jones LLC purchased a new position in shares of Central Garden & Pet in the fourth quarter worth $215,000. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Central Garden & Pet by 31.1% in the first quarter. Ameritas Investment Partners Inc. now owns 5,133 shares of the company’s stock worth $190,000 after buying an additional 1,219 shares during the last quarter. Institutional investors own 50.82% of the company’s stock.

Insiders Place Their Bets

In other Central Garden & Pet news, CAO Howard Machek sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $40.05, for a total transaction of $400,500.00. Following the completion of the transaction, the chief accounting officer now owns 51,474 shares in the company, valued at approximately $2,061,533.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider John D. Walker III sold 4,218 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $40.31, for a total transaction of $170,027.58. Following the transaction, the insider now directly owns 85,063 shares of the company’s stock, valued at approximately $3,428,889.53. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Howard Machek sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $40.05, for a total transaction of $400,500.00. Following the transaction, the chief accounting officer now directly owns 51,474 shares in the company, valued at $2,061,533.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 714,218 shares of company stock worth $25,945,528. 20.28% of the stock is owned by insiders.

Central Garden & Pet Stock Down 0.4 %

Shares of NASDAQ:CENTA traded down $0.12 during trading on Tuesday, hitting $33.78. 123,123 shares of the company were exchanged, compared to its average volume of 261,409. The firm’s 50 day moving average price is $34.61 and its 200-day moving average price is $35.42. Central Garden & Pet has a 12-month low of $27.88 and a 12-month high of $41.03. The stock has a market capitalization of $2.28 billion, a P/E ratio of 15.23 and a beta of 0.75. 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 (NASDAQ:CENTA) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.83 by $0.16. The firm 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, research analysts predict that Central Garden & Pet will post 2.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CENTA shares. Truist Financial raised their price target on shares of Central Garden & Pet from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, May 13th. StockNews.com downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Monday, July 1st. Monness Crespi & Hardt boosted their price target 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. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a “strong-buy” rating in a report on Monday, July 1st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Central Garden & Pet from $40.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Central Garden & Pet presently has an average rating of “Buy” and a consensus price target of $40.50.

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.