The Manufacturers Life Insurance Company Increases Stake in Central Garden & Pet (NASDAQ:CENTA)

The Manufacturers Life Insurance Company raised its holdings in shares of Central Garden & Pet (NASDAQ:CENTA) by 5.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 631,724 shares of the company’s stock after buying an additional 33,379 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.94% of Central Garden & Pet worth $20,866,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Public Employees Retirement System of Ohio lifted its position in Central Garden & Pet by 0.5% during the first quarter. Public Employees Retirement System of Ohio now owns 50,868 shares of the company’s stock worth $1,878,000 after buying an additional 256 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Central Garden & Pet by 3.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,693 shares of the company’s stock valued at $427,000 after acquiring an additional 341 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Central Garden & Pet by 16.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,511 shares of the company’s stock valued at $83,000 after acquiring an additional 355 shares during the last quarter. Arizona State Retirement System increased its position in Central Garden & Pet by 2.5% during the second quarter. Arizona State Retirement System now owns 15,269 shares of the company’s stock worth $504,000 after purchasing an additional 377 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in Central Garden & Pet by 37.4% during the first quarter. Public Employees Retirement Association of Colorado now owns 1,650 shares of the company’s stock worth $61,000 after purchasing an additional 449 shares during the last quarter. 50.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on CENTA shares. Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. JPMorgan Chase & Co. lowered their target price on shares of Central Garden & Pet from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, StockNews.com downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Monday, July 1st. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $42.00.

Central Garden & Pet Trading Down 1.7 %

Shares of NASDAQ:CENTA opened at $30.88 on Wednesday. The company has a market cap of $2.08 billion, a PE ratio of 13.85 and a beta of 0.73. The company’s 50 day moving average is $33.30 and its two-hundred day moving average is $34.78. Central Garden & Pet has a 52 week low of $27.88 and a 52 week high of $41.03. The company has a current ratio of 3.66, a quick ratio of 2.16 and a debt-to-equity ratio of 0.75.

Central Garden & Pet (NASDAQ:CENTA) last released its quarterly earnings data on Wednesday, August 7th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $996.35 million for the quarter, compared to the consensus estimate of $1.01 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. During the same quarter in the prior year, the business posted $1.40 EPS. Equities analysts predict that Central Garden & Pet will post 2.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman William E. Brown sold 60,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chairman now owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Brooks Pennington III sold 1,486 shares of the stock in a transaction dated Tuesday, August 13th. The shares were 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 in the company, valued at $1,336,370.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman William E. Brown sold 60,000 shares of the firm’s stock in a transaction dated 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 directly owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,986 shares of company stock valued at $2,146,841. 20.28% of the stock is currently owned by insiders.

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.