StockNews.com Lowers Central Garden & Pet (NASDAQ:CENTA) to Hold

StockNews.com lowered shares of Central Garden & Pet (NASDAQ:CENTA) from a buy rating to a hold rating in a report released on Monday.

CENTA has been the topic of several other research reports. Argus raised shares of Central Garden & Pet to a strong-buy rating in a research report on Tuesday, May 28th. Monness Crespi & Hardt increased their price target on shares of Central Garden & Pet from $39.00 to $42.00 and gave the stock a buy rating in a research report on Thursday, May 9th. Finally, Truist Financial increased their price target on shares of Central Garden & Pet from $45.00 to $50.00 and gave the stock a buy rating in a research report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $41.75.

Central Garden & Pet Stock Performance

NASDAQ:CENTA opened at $33.38 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.33 and a quick ratio of 1.68. The firm has a 50-day moving average of $36.32 and a two-hundred day moving average of $34.90. The stock has a market cap of $2.25 billion, a P/E ratio of 15.00 and a beta of 0.75. Central Garden & Pet has a 1-year low of $27.88 and a 1-year high of $41.03.

Central Garden & Pet (NASDAQ:CENTA) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.16. Central Garden & Pet had a net margin of 4.49% and a return on equity of 11.30%. The company had revenue of $900.09 million during the quarter, compared to analysts’ expectations of $895.68 million. On average, research analysts expect that Central Garden & Pet will post 2.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman William E. Brown sold 700,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $36.25, for a total transaction of $25,375,000.00. Following the sale, the chairman now owns 1,189,615 shares in the company, valued at $43,123,543.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Central Garden & Pet news, CAO Howard Machek sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $40.05, for a total value of $400,500.00. Following the sale, the chief accounting officer now owns 51,474 shares in the company, valued at $2,061,533.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman William E. Brown sold 700,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $36.25, for a total transaction of $25,375,000.00. Following the completion of the sale, the chairman now owns 1,189,615 shares in the company, valued at approximately $43,123,543.75. The disclosure for this sale can be found here. Insiders have sold a total of 714,218 shares of company stock worth $25,945,528 over the last quarter. 20.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Central Garden & Pet

Several large investors have recently made changes to their positions in CENTA. GAMMA Investing LLC acquired a new position in shares of Central Garden & Pet during the fourth quarter valued at approximately $35,000. Public Employees Retirement Association of Colorado increased its stake in shares of 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 valued at $61,000 after acquiring an additional 449 shares during the period. SG Americas Securities LLC acquired a new position in shares of Central Garden & Pet during the first quarter valued at approximately $174,000. Ameritas Investment Partners Inc. increased its stake in shares of Central Garden & Pet by 31.1% during the first quarter. Ameritas Investment Partners Inc. now owns 5,133 shares of the company’s stock valued at $190,000 after acquiring an additional 1,219 shares during the period. Finally, North Star Investment Management Corp. acquired a new position in shares of Central Garden & Pet during the first quarter valued at approximately $194,000. Institutional investors and hedge funds own 50.82% of the company’s stock.

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.