William E. Brown Sells 60,000 Shares of Central Garden & Pet (NASDAQ:CENT) Stock

Central Garden & Pet (NASDAQ:CENT) Chairman William E. Brown sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the completion of the transaction, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Central Garden & Pet Price Performance

Shares of NASDAQ CENT opened at $38.92 on Thursday. The stock’s 50-day simple moving average is $38.88 and its two-hundred day simple moving average is $41.01. Central Garden & Pet has a twelve month low of $30.75 and a twelve month high of $47.48. The firm has a market capitalization of $2.62 billion, a P/E ratio of 17.48 and a beta of 0.78. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.21 by $0.11. The company had revenue of $996.35 million during the quarter, compared to analyst estimates of $1 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. Central Garden & Pet’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 earnings per share. As a group, equities analysts anticipate that Central Garden & Pet will post 2.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CENT. Argus upgraded 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. Canaccord Genuity Group upgraded Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. Canaccord Genuity Group decreased their price target on Central Garden & Pet from $52.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, July 1st. Finally, Monness Crespi & Hardt upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research report on Thursday, May 9th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $52.75.

Hedge Funds Weigh In On Central Garden & Pet

Institutional investors have recently made changes to their positions in the stock. Inspire Investing LLC grew its position in Central Garden & Pet by 9.3% in the first 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. Public Sector Pension Investment Board boosted its holdings in shares of Central Garden & Pet by 6.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 20,978 shares of the company’s stock worth $808,000 after purchasing an additional 1,200 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Central Garden & Pet during the 2nd quarter valued at about $51,000. Bank of New York Mellon Corp raised its holdings in shares of Central Garden & Pet by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company’s stock valued at $3,345,000 after buying an additional 1,873 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Central Garden & Pet in the 2nd quarter worth approximately $113,000. Institutional investors own 16.13% of the company’s stock.

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.