Allspring Global Investments Holdings LLC Decreases Stock Holdings in Central Garden & Pet (NASDAQ:CENT)

Allspring Global Investments Holdings LLC lessened its stake in Central Garden & Pet (NASDAQ:CENT) by 13.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 833,879 shares of the company’s stock after selling 126,868 shares during the period. Allspring Global Investments Holdings LLC owned 1.24% of Central Garden & Pet worth $35,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new position in shares of Central Garden & Pet in the 4th quarter worth approximately $241,000. Nisa Investment Advisors LLC grew its holdings in Central Garden & Pet by 28.3% in the fourth 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. New York State Teachers Retirement System increased its position in shares of Central Garden & Pet by 21.8% during the fourth quarter. New York State Teachers Retirement System now owns 5,137 shares of the company’s stock worth $257,000 after purchasing an additional 919 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Central Garden & Pet by 6.6% during the 4th quarter. SG Americas Securities LLC now owns 5,613 shares of the company’s stock valued at $281,000 after purchasing an additional 346 shares during the last quarter. Finally, Watershed Asset Management L.L.C. acquired a new stake in shares of Central Garden & Pet in the 4th quarter worth $291,000. 16.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on CENT shares. Argus raised 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. Monness Crespi & Hardt upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research note on Thursday, May 9th. Canaccord Genuity Group assumed coverage on shares of Central Garden & Pet in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 target price on the stock. Finally, Canaccord Genuity Group decreased their price target 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. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $52.75.

Central Garden & Pet Trading Down 0.4 %

Central Garden & Pet stock opened at $38.43 on Friday. Central Garden & Pet has a 52 week low of $29.73 and a 52 week high of $47.48. The stock has a 50-day moving average price of $42.00 and a 200 day moving average price of $40.32. The company has a quick ratio of 1.68, a current ratio of 3.33 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 17.26 and a beta of 0.78.

Central Garden & Pet (NASDAQ:CENT) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.99 EPS for the quarter, beating the consensus estimate 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 business had revenue of $900.10 million for the quarter, compared to the consensus estimate of $888.74 million. During the same period in the prior year, the firm earned $0.72 EPS. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. Sell-side analysts anticipate that Central Garden & Pet will post 2.28 EPS for the current year.

Insider Buying and Selling at Central Garden & Pet

In other news, insider John D. Walker III sold 4,218 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $40.31, for a total value of $170,027.58. Following the sale, the insider now owns 85,063 shares in the company, valued at $3,428,889.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider John D. Walker III sold 4,218 shares of the stock in a transaction 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 directly owns 85,063 shares of the company’s stock, valued at $3,428,889.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman William E. Brown sold 700,000 shares of the firm’s stock in a transaction 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 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. In the last quarter, insiders sold 744,218 shares of company stock worth $27,144,928. Insiders own 9.53% of the company’s stock.

Central Garden & Pet Profile

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.