Central Garden & Pet (NASDAQ:CENTA) Director John Ranelli Sells 2,500 Shares

Central Garden & Pet (NASDAQ:CENTA) Director John Ranelli sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $34.28, for a total transaction of $85,700.00. Following the transaction, the director now directly owns 822 shares of the company’s stock, valued at $28,178.16. The sale was disclosed in a document filed with the SEC, which is available through this link.

Central Garden & Pet Stock Down 1.0 %

Shares of NASDAQ:CENTA opened at $33.43 on Friday. Central Garden & Pet has a 12-month low of $27.88 and a 12-month high of $41.03. The stock’s 50-day moving average price is $33.31 and its two-hundred day moving average price is $35.41. The company has a current ratio of 3.33, a quick ratio of 1.68 and a debt-to-equity ratio of 0.79. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 14.99 and a beta of 0.75.

Central Garden & Pet (NASDAQ:CENTA) last released its earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. Central Garden & Pet had a net margin of 4.49% and a return on equity of 11.30%. The business had revenue of $996.35 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the company earned $1.40 earnings per share. On average, research analysts forecast that Central Garden & Pet will post 2.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CENTA. JPMorgan Chase & Co. cut their price target on Central Garden & Pet from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a “strong-buy” rating in a report on Monday, July 1st. Argus raised shares of Central Garden & Pet to a “strong-buy” rating in a research note on Tuesday, May 28th. Monness Crespi & Hardt boosted their price objective on shares of Central Garden & Pet from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, Truist Financial raised their target price 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, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Central Garden & Pet has a consensus rating of “Buy” and a consensus target price of $42.00.

Institutional Trading of Central Garden & Pet

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP grew its holdings in shares of Central Garden & Pet by 503.2% during the 2nd quarter. Quarry LP now owns 754 shares of the company’s stock worth $25,000 after purchasing an additional 629 shares during the period. Logan Stone Capital LLC grew its stake in Central Garden & Pet by 2.5% during the second quarter. Logan Stone Capital LLC now owns 256,147 shares of the company’s stock worth $8,461,000 after buying an additional 6,181 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Central Garden & Pet by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 631,724 shares of the company’s stock worth $20,866,000 after acquiring an additional 33,379 shares in the last quarter. Millennium Management LLC increased its position in shares of Central Garden & Pet by 34.3% in the second quarter. Millennium Management LLC now owns 255,160 shares of the company’s stock worth $8,428,000 after acquiring an additional 65,213 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Central Garden & Pet by 7.8% in the 2nd quarter. AQR Capital Management LLC now owns 13,348 shares of the company’s stock valued at $441,000 after acquiring an additional 968 shares during the period. 50.82% of the stock is currently owned by institutional investors and hedge funds.

Central Garden & Pet Company 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.