Renaissance Technologies LLC Reduces Holdings in Central Garden & Pet (NASDAQ:CENT)

Renaissance Technologies LLC reduced its stake in shares of Central Garden & Pet (NASDAQ:CENT) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,687 shares of the company’s stock after selling 5,124 shares during the period. Renaissance Technologies LLC’s holdings in Central Garden & Pet were worth $8,496,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Central Garden & Pet by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 777,297 shares of the company’s stock worth $29,926,000 after buying an additional 5,571 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Central Garden & Pet in the second quarter valued at $51,000. American Century Companies Inc. boosted its stake in shares of Central Garden & Pet by 24.5% during the second quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock valued at $6,262,000 after acquiring an additional 32,009 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Central Garden & Pet during the 2nd quarter worth about $295,000. Finally, Versor Investments LP acquired a new position in Central Garden & Pet in the 2nd quarter valued at about $270,000. Hedge funds and other institutional investors own 16.13% of the company’s stock.

Insider Buying and Selling

In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total transaction of $48,740.80. Following the completion of the sale, the director now owns 40,743 shares of the company’s stock, valued at $1,336,370.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director John Ranelli sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $34.28, for a total value of $85,700.00. Following the transaction, the director now owns 822 shares in the company, valued at $28,178.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total transaction of $48,740.80. Following the sale, the director now owns 40,743 shares of the company’s stock, valued at $1,336,370.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,986 shares of company stock valued at $2,146,841. 9.53% of the stock is currently owned by company insiders.

Central Garden & Pet Trading Down 1.7 %

NASDAQ CENT opened at $37.08 on Wednesday. The company has a market cap of $2.50 billion, a P/E ratio of 16.63 and a beta of 0.75. Central Garden & Pet has a 12 month low of $30.75 and a 12 month high of $47.48. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. The company has a 50-day moving average of $38.83 and a 200-day moving average of $40.51.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.21 by $0.11. The firm had revenue of $996.35 million during the quarter, compared to analyst estimates of $1 billion. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. 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 business posted $1.40 earnings per share. As a group, equities analysts predict that Central Garden & Pet will post 2.11 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on CENT. Canaccord Genuity Group raised shares of Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. Argus upgraded shares of 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. Finally, Canaccord Genuity Group lowered their target price on shares of Central Garden & Pet from $52.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, July 1st. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $52.75.

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.