Central Garden & Pet (NASDAQ:CENT) Short Interest Update

Central Garden & Pet (NASDAQ:CENT) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 1,430,000 shares, an increase of 18.2% from the August 15th total of 1,210,000 shares. Approximately 15.0% of the shares of the stock are short sold. Based on an average daily volume of 125,000 shares, the short-interest ratio is currently 11.4 days.

Analyst Upgrades and Downgrades

CENT has been the subject of several recent research reports. Canaccord Genuity Group raised shares of Central Garden & Pet to a “strong-buy” rating in a research report on Monday, July 1st. Canaccord Genuity Group decreased their price objective on shares of 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, 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 research report on Tuesday, May 28th. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $52.75.

Insider Transactions at Central Garden & Pet

In other news, Chairman William E. Brown sold 60,000 shares of the business’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 transaction, the chairman now owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction on Friday, August 30th. The stock was sold at an average price of $33.54, for a total value of $2,012,400.00. Following the transaction, the chairman now owns 1,125,773 shares in the company, valued at $37,758,426.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Ranelli sold 2,500 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $34.28, for a total transaction of $85,700.00. Following the sale, the director now directly owns 822 shares of the company’s stock, valued at $28,178.16. The disclosure for this sale can be found here. Insiders sold a total of 63,986 shares of company stock valued at $2,146,841 in the last ninety days. Corporate insiders own 9.53% of the company’s stock.

Institutional Trading of Central Garden & Pet

Several institutional investors have recently added to or reduced their stakes in CENT. Allspring Global Investments Holdings LLC boosted its holdings in shares of Central Garden & Pet by 6.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company’s stock valued at $34,085,000 after buying an additional 51,454 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Central Garden & Pet by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 777,297 shares of the company’s stock worth $29,926,000 after purchasing an additional 5,571 shares during the last quarter. Orchard Capital Management LLC boosted its position in Central Garden & Pet by 5.6% during the 4th quarter. Orchard Capital Management LLC now owns 169,107 shares of the company’s stock valued at $8,474,000 after purchasing an additional 8,914 shares during the period. American Century Companies Inc. increased its position in Central Garden & Pet by 24.5% in the second quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock worth $6,262,000 after buying an additional 32,009 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Central Garden & Pet by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company’s stock valued at $3,345,000 after buying an additional 1,873 shares during the last quarter. Institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Stock Down 1.6 %

Shares of Central Garden & Pet stock traded down $0.63 during trading on Tuesday, reaching $37.77. The company had a trading volume of 91,696 shares, compared to its average volume of 112,841. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.16 and a current ratio of 3.66. Central Garden & Pet has a fifty-two week low of $30.75 and a fifty-two week high of $47.48. The firm’s fifty day moving average is $38.84 and its 200-day moving average is $40.69. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 16.94 and a beta of 0.75.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.11. The firm had revenue of $996.35 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.40 earnings per share. On average, analysts anticipate that Central Garden & Pet will post 2.11 EPS for the current year.

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.