Central Garden & Pet (NASDAQ:CENT) Short Interest Update

Central Garden & Pet (NASDAQ:CENT) saw a large growth in short interest in June. As of June 15th, there was short interest totalling 1,180,000 shares, a growth of 8.3% from the May 31st total of 1,090,000 shares. Currently, 12.4% of the shares of the company are sold short. Based on an average daily volume of 102,200 shares, the short-interest ratio is currently 11.5 days.

Analyst Upgrades and Downgrades

Several analysts have commented on CENT shares. Argus upgraded shares of Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, May 28th. Canaccord Genuity Group started coverage on shares of Central Garden & Pet in a research note on Tuesday, March 12th. They set a “buy” rating and a $52.00 price objective for the company. Canaccord Genuity Group cut 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 report on Monday. Finally, Monness Crespi & Hardt raised shares of Central Garden & Pet to a “strong-buy” rating in a report on Thursday, May 9th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Central Garden & Pet presently has a consensus rating of “Buy” and a consensus target price of $52.75.

Central Garden & Pet Price Performance

NASDAQ:CENT opened at $38.43 on Thursday. 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 market cap of $2.59 billion, a price-to-earnings ratio of 17.26 and a beta of 0.78. The company has a 50 day moving average price of $42.05 and a 200-day moving average price of $40.34. Central Garden & Pet has a 1-year low of $29.73 and a 1-year high of $47.48.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.83 by $0.16. The company had revenue of $900.10 million during the quarter, compared to analyst estimates of $888.74 million. Central Garden & Pet had a net margin of 4.49% and a return on equity of 11.30%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. Equities research analysts forecast that Central Garden & Pet will post 2.28 EPS for the current year.

Insider Buying and Selling

In related news, Chairman William E. Brown sold 700,000 shares of Central Garden & Pet stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $36.25, for a total value of $25,375,000.00. Following the completion of the sale, the chairman now directly owns 1,189,615 shares in the company, valued at approximately $43,123,543.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman William E. Brown sold 700,000 shares of Central Garden & Pet stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $36.25, for a total value of $25,375,000.00. Following the completion of the sale, the chairman now directly owns 1,189,615 shares in the company, valued at approximately $43,123,543.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John D. Walker III sold 4,218 shares of Central Garden & Pet stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $40.31, for a total transaction of $170,027.58. Following the sale, the insider now owns 85,063 shares of the company’s stock, valued at $3,428,889.53. The disclosure for this sale can be found here. Insiders sold 744,218 shares of company stock worth $27,144,928 in the last three months. Corporate insiders own 9.53% of the company’s stock.

Institutional Investors Weigh In On Central Garden & Pet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its holdings in Central Garden & Pet by 6.6% in the 4th quarter. SG Americas Securities LLC now owns 5,613 shares of the company’s stock worth $281,000 after acquiring an additional 346 shares in the last quarter. Values First Advisors Inc. increased its holdings in Central Garden & Pet by 7.3% in the 4th quarter. Values First Advisors Inc. now owns 9,941 shares of the company’s stock worth $498,000 after acquiring an additional 673 shares in the last quarter. Inspire Investing LLC increased its holdings in Central Garden & Pet by 9.3% in the 1st quarter. Inspire Investing LLC now owns 8,386 shares of the company’s stock worth $359,000 after acquiring an additional 712 shares in the last quarter. New York State Teachers Retirement System increased its holdings in Central Garden & Pet by 21.8% in the 4th quarter. New York State Teachers Retirement System now owns 5,137 shares of the company’s stock worth $257,000 after acquiring an additional 919 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Central Garden & Pet by 28.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,850 shares of the company’s stock worth $243,000 after purchasing an additional 1,070 shares during the last quarter. Hedge funds and other institutional investors own 16.13% 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.