DekaBank Deutsche Girozentrale Makes New Investment in Central Garden & Pet (NASDAQ:CENT)

DekaBank Deutsche Girozentrale purchased a new stake in Central Garden & Pet (NASDAQ:CENT) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,347 shares of the company’s stock, valued at approximately $51,000.

A number of other institutional investors also recently modified their holdings of CENT. American Century Companies Inc. grew its position in Central Garden & Pet by 24.5% in the second quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock valued at $6,262,000 after acquiring an additional 32,009 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Central Garden & Pet during the 2nd quarter valued at approximately $295,000. Versor Investments LP acquired a new position in Central Garden & Pet during the 2nd quarter worth approximately $270,000. Allspring Global Investments Holdings LLC lifted its stake in Central Garden & Pet by 6.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company’s stock valued at $34,085,000 after purchasing an additional 51,454 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Central Garden & Pet by 2.2% in the second 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. Institutional investors and hedge funds own 16.13% of the company’s stock.

Central Garden & Pet Stock Performance

NASDAQ CENT opened at $38.09 on Friday. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 17.08 and a beta of 0.75. Central Garden & Pet has a twelve month low of $30.75 and a twelve month high of $47.48. The stock has a fifty day simple moving average of $38.89 and a 200 day simple moving average of $40.57. 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 posted its quarterly earnings data on Wednesday, August 7th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.11. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. The company had revenue of $996.35 million for the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the firm earned $1.40 earnings per share. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. Sell-side analysts expect that Central Garden & Pet will post 2.11 EPS for the current year.

Analysts Set New Price Targets

CENT has been the subject of several research analyst reports. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a “strong-buy” rating in a report on Monday, July 1st. Canaccord Genuity Group dropped their target price on Central Garden & Pet from $52.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, July 1st. Finally, Argus upgraded Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, May 28th. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $52.75.

Insider Transactions at Central Garden & Pet

In other news, Director Brooks Pennington III sold 1,486 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total transaction of $48,740.80. Following the completion of the sale, the director now directly owns 40,743 shares in the company, valued at $1,336,370.40. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Central Garden & Pet news, Chairman William E. Brown sold 60,000 shares of the 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 transaction, the chairman now directly owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brooks Pennington III sold 1,486 shares of Central Garden & Pet stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total transaction of $48,740.80. Following the completion of the sale, the director now owns 40,743 shares of the company’s stock, valued at approximately $1,336,370.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,986 shares of company stock worth $2,146,841. Company insiders own 9.53% 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.