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

Central Garden & Pet (NASDAQ:CENTA) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 827,600 shares, an increase of 16.5% from the October 15th total of 710,400 shares. Based on an average daily trading volume, of 311,300 shares, the days-to-cover ratio is currently 2.7 days.

Central Garden & Pet Stock Performance

CENTA opened at $31.63 on Friday. The stock’s 50 day simple moving average is $30.81 and its 200 day simple moving average is $33.48. The stock has a market cap of $2.13 billion, a P/E ratio of 14.59 and a beta of 0.73. Central Garden & Pet has a 1-year low of $27.70 and a 1-year high of $41.03. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16.

Wall Street Analyst Weigh In

Several analysts have recently commented on CENTA shares. StockNews.com cut Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their target price on Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $41.33.

Insider Buying and Selling

In related news, Chairman William E. Brown sold 60,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the completion of the sale, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. This trade represents a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Ranelli sold 2,500 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $34.28, for a total transaction of $85,700.00. Following the transaction, the director now owns 822 shares in the company, valued at approximately $28,178.16. This trade represents a 75.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 20.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in Central Garden & Pet by 39.5% in the 1st quarter. BNP Paribas Financial Markets now owns 30,582 shares of the company’s stock valued at $1,129,000 after acquiring an additional 8,658 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in Central Garden & Pet in the 1st quarter valued at approximately $208,000. SG Americas Securities LLC acquired a new stake in Central Garden & Pet during the 1st quarter valued at $174,000. Swiss National Bank increased its position in Central Garden & Pet by 32.3% during the first quarter. Swiss National Bank now owns 106,937 shares of the company’s stock worth $3,948,000 after buying an additional 26,137 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Central Garden & Pet by 53.2% in the first quarter. Sei Investments Co. now owns 34,773 shares of the company’s stock worth $1,284,000 after acquiring an additional 12,068 shares during the last quarter. Hedge funds and other institutional investors own 50.82% of the company’s stock.

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.