Short Interest in Central Garden & Pet (NASDAQ:CENTA) Decreases By 10.7%

Central Garden & Pet (NASDAQ:CENTA) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 871,100 shares, a drop of 10.7% from the August 31st total of 975,600 shares. Based on an average daily volume of 323,800 shares, the short-interest ratio is currently 2.7 days.

Insider Buying and Selling

In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total value of $48,740.80. Following the transaction, the director now owns 40,743 shares of the company’s stock, valued at $1,336,370.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet 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 owns 1,125,773 shares in the company, valued at $37,758,426.42. The sale was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $32.80, for a total transaction of $48,740.80. Following the sale, the director now directly owns 40,743 shares of the company’s stock, valued at $1,336,370.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,986 shares of company stock worth $2,146,841. Company insiders own 20.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP increased its holdings in shares of Central Garden & Pet by 503.2% during the second quarter. Quarry LP now owns 754 shares of the company’s stock valued at $25,000 after acquiring an additional 629 shares in the last quarter. Federated Hermes Inc. bought a new position in Central Garden & Pet in the 2nd quarter worth about $26,000. CWM LLC lifted its stake in shares of Central Garden & Pet by 3,558.1% during the 2nd quarter. CWM LLC now owns 1,134 shares of the company’s stock worth $37,000 after purchasing an additional 1,103 shares during the last quarter. Quest Partners LLC purchased a new position in Central Garden & Pet during the 2nd quarter worth $37,000. Finally, GAMMA Investing LLC lifted its stake in shares of Central Garden & Pet by 61.3% during the first quarter. GAMMA Investing LLC now owns 1,366 shares of the company’s stock worth $50,000 after buying an additional 519 shares during the period. Institutional investors own 50.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CENTA shares. StockNews.com lowered Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Monday, July 1st. Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Central Garden & Pet from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $42.00.

Central Garden & Pet Stock Performance

CENTA stock traded down $0.37 on Monday, reaching $31.40. The company’s stock had a trading volume of 546,030 shares, compared to its average volume of 277,584. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. The company has a market capitalization of $2.12 billion, a P/E ratio of 14.08 and a beta of 0.73. The firm has a fifty day moving average of $33.30 and a two-hundred day moving average of $34.78. Central Garden & Pet has a 52 week low of $27.88 and a 52 week high of $41.03.

Central Garden & Pet (NASDAQ:CENTA) last posted its earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. The company had revenue of $996.35 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. As a group, analysts predict that Central Garden & Pet will post 2.11 EPS for the current fiscal year.

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.