Franklin Resources Inc. Increases Stake in Central Garden & Pet (NASDAQ:CENT)

Franklin Resources Inc. boosted its holdings in Central Garden & Pet (NASDAQ:CENT) by 29.0% in the third quarter, HoldingsChannel.com reports. The firm owned 4,521 shares of the company’s stock after buying an additional 1,016 shares during the quarter. Franklin Resources Inc.’s holdings in Central Garden & Pet were worth $157,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale purchased a new position in shares of Central Garden & Pet in the 2nd quarter valued at approximately $51,000. Glenmede Trust Co. NA increased its position in shares of Central Garden & Pet by 23.2% in the third quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock valued at $77,000 after buying an additional 395 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Central Garden & Pet in the third quarter valued at approximately $111,000. Point72 Asset Management L.P. purchased a new stake in shares of Central Garden & Pet in the second quarter valued at $113,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Central Garden & Pet during the second quarter valued at approximately $187,000. Institutional investors and hedge funds own 16.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CENT. Canaccord Genuity Group lowered their price target on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Truist Financial cut their price target on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Central Garden & Pet presently has a consensus rating of “Buy” and an average price target of $46.75.

Central Garden & Pet Stock Performance

Shares of CENT stock opened at $38.14 on Friday. The firm has a market cap of $2.50 billion, a P/E ratio of 23.57 and a beta of 0.81. The stock’s 50-day moving average is $38.47 and its two-hundred day moving average is $37.98. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19. Central Garden & Pet has a fifty-two week low of $32.17 and a fifty-two week high of $47.48.

Central Garden & Pet (NASDAQ:CENT) last released its earnings results on Monday, November 25th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.04. The firm had revenue of $669.49 million during the quarter, compared to analysts’ expectations of $707.83 million. Central Garden & Pet had a net margin of 3.37% and a return on equity of 9.31%. The firm’s revenue was down 10.8% on a year-over-year basis. Analysts predict that Central Garden & Pet will post 2.22 earnings per share for the current fiscal year.

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.