Central Garden & Pet (NASDAQ:CENTA) Sees Significant Increase in Short Interest

Central Garden & Pet (NASDAQ:CENTA) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 948,400 shares, a growth of 5.2% from the January 15th total of 901,600 shares. Based on an average daily volume of 293,700 shares, the days-to-cover ratio is presently 3.2 days.

Insider Transactions at Central Garden & Pet

In related news, insider John D. Walker III sold 10,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $32.86, for a total transaction of $328,600.00. Following the transaction, the insider now owns 67,111 shares of the company’s stock, valued at approximately $2,205,267.46. This trade represents a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 20.28% of the company’s stock.

Institutional Investors Weigh In On Central Garden & Pet

Institutional investors have recently made changes to their positions in the company. CWM LLC boosted its position in shares of Central Garden & Pet by 72.6% during the third quarter. CWM LLC now owns 1,957 shares of the company’s stock valued at $61,000 after buying an additional 823 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Central Garden & Pet by 1.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,100,751 shares of the company’s stock valued at $65,964,000 after acquiring an additional 38,077 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Central Garden & Pet by 39.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,650 shares of the company’s stock valued at $397,000 after acquiring an additional 3,560 shares during the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Central Garden & Pet by 2.6% in the third quarter. GHP Investment Advisors Inc. now owns 91,775 shares of the company’s stock worth $2,882,000 after acquiring an additional 2,352 shares during the period. Finally, James Investment Research Inc. raised its holdings in shares of Central Garden & Pet by 23.2% during the third quarter. James Investment Research Inc. now owns 30,302 shares of the company’s stock valued at $951,000 after purchasing an additional 5,712 shares during the last quarter. Hedge funds and other institutional investors own 50.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CENTA. JPMorgan Chase & Co. reduced their price objective on Central Garden & Pet from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. StockNews.com raised Central Garden & Pet from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Argus lowered Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Central Garden & Pet presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Central Garden & Pet Price Performance

Shares of Central Garden & Pet stock opened at $32.84 on Wednesday. The company has a market cap of $2.15 billion, a PE ratio of 18.04 and a beta of 0.76. The business has a 50 day moving average of $32.41 and a 200 day moving average of $32.23. Central Garden & Pet has a 52 week low of $27.70 and a 52 week high of $41.03. The company has a quick ratio of 2.19, a current ratio of 3.47 and a debt-to-equity ratio of 0.78.

Central Garden & Pet (NASDAQ:CENTA) last posted its earnings results on Wednesday, February 5th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.24. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. As a group, equities research analysts forecast that Central Garden & Pet will post 2.2 earnings per share for the current year.

Central Garden & Pet Company Profile

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish and small animals as well as outdoor cushions.