Geode Capital Management LLC Has $20.29 Million Stock Position in Central Garden & Pet (NASDAQ:CENT)

Geode Capital Management LLC lessened its stake in Central Garden & Pet (NASDAQ:CENT) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 556,236 shares of the company’s stock after selling 2,144 shares during the period. Geode Capital Management LLC’s holdings in Central Garden & Pet were worth $20,287,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new stake in shares of Central Garden & Pet during the 2nd quarter valued at $51,000. Glenmede Trust Co. NA grew its stake in shares of Central Garden & Pet by 23.2% during the third quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock worth $77,000 after purchasing an additional 395 shares during the period. SG Americas Securities LLC acquired a new position in Central Garden & Pet in the third quarter valued at about $111,000. Point72 Asset Management L.P. bought a new stake in Central Garden & Pet in the second quarter valued at approximately $113,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Central Garden & Pet in the second quarter worth about $187,000. Institutional investors own 16.13% of the company’s stock.

Analysts Set New Price Targets

CENT has been the topic of a number of research reports. Canaccord Genuity Group cut their price target on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Truist Financial decreased their price objective on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $46.75.

Central Garden & Pet Price Performance

Shares of NASDAQ CENT opened at $39.16 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19. Central Garden & Pet has a fifty-two week low of $32.17 and a fifty-two week high of $47.48. The stock has a market capitalization of $2.57 billion, a PE ratio of 24.20 and a beta of 0.80. The business has a fifty day moving average price of $38.07 and a two-hundred day moving average price of $37.98.

Central Garden & Pet (NASDAQ:CENT) last released its earnings results on Monday, November 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. The firm had revenue of $669.49 million for the quarter, compared to analysts’ expectations of $707.83 million. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%. The business’s quarterly revenue was down 10.8% on a year-over-year basis. As a group, equities analysts predict that Central Garden & Pet will post 2.22 earnings per share for the current fiscal year.

Central Garden & Pet 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.