JPMorgan Chase & Co. Trims Central Garden & Pet (NASDAQ:CENTA) Target Price to $32.00

Central Garden & Pet (NASDAQ:CENTA) had its price objective decreased by JPMorgan Chase & Co. from $34.00 to $32.00 in a research note released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other brokerages have also commented on CENTA. StockNews.com raised Central Garden & Pet from a hold rating to a buy rating in a research note on Tuesday, October 8th. Canaccord Genuity Group raised shares of Central Garden & Pet to a strong-buy rating in a research report on Monday, July 1st. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $41.33.

Central Garden & Pet Stock Performance

Shares of NASDAQ:CENTA opened at $29.43 on Friday. The company has a current ratio of 3.66, a quick ratio of 2.16 and a debt-to-equity ratio of 0.75. The company has a 50-day moving average price of $32.46 and a 200-day moving average price of $34.31. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 13.20 and a beta of 0.72. Central Garden & Pet has a 12 month low of $27.70 and a 12 month high of $41.03.

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

Insider Activity at Central Garden & Pet

In other news, Chairman William E. Brown sold 60,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $33.54, for a total value of $2,012,400.00. Following the sale, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Brooks Pennington III sold 1,486 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 40,743 shares of the company’s stock, valued at $1,336,370.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman William E. Brown sold 60,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $33.54, for a total value of $2,012,400.00. Following the completion of the sale, the chairman now directly owns 1,125,773 shares in the company, valued at $37,758,426.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,986 shares of company stock worth $2,146,841 over the last ninety days. 20.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Central Garden & Pet

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Central Garden & Pet by 30.2% during the first quarter. Vanguard Group Inc. now owns 5,636,319 shares of the company’s stock valued at $208,093,000 after buying an additional 1,306,309 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Central Garden & Pet by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,653,753 shares of the company’s stock worth $120,682,000 after acquiring an additional 29,780 shares during the period. Champlain Investment Partners LLC raised its holdings in shares of Central Garden & Pet by 24.8% during the first quarter. Champlain Investment Partners LLC now owns 2,303,369 shares of the company’s stock valued at $85,040,000 after purchasing an additional 457,699 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Central Garden & Pet by 29.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,087,178 shares of the company’s stock valued at $77,059,000 after purchasing an additional 480,805 shares during the period. Finally, Silvercrest Asset Management Group LLC boosted its holdings in Central Garden & Pet by 7.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,112,400 shares of the company’s stock worth $41,070,000 after purchasing an additional 74,256 shares during the last quarter. 50.82% of the stock is currently owned by institutional investors.

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.