William Blair Investment Management LLC Raises Position in Central Garden & Pet (NASDAQ:CENTA)

William Blair Investment Management LLC raised its stake in shares of Central Garden & Pet (NASDAQ:CENTA) by 2.2% during the fourth quarter, HoldingsChannel reports. The firm owned 805,564 shares of the company’s stock after buying an additional 17,530 shares during the quarter. William Blair Investment Management LLC’s holdings in Central Garden & Pet were worth $26,624,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Central Garden & Pet by 33.8% in the third quarter. FMR LLC now owns 76,388 shares of the company’s stock worth $2,399,000 after buying an additional 19,306 shares during the period. Barclays PLC raised its holdings in shares of Central Garden & Pet by 161.7% in the third quarter. Barclays PLC now owns 122,530 shares of the company’s stock worth $3,849,000 after buying an additional 75,718 shares during the period. Denali Advisors LLC purchased a new stake in shares of Central Garden & Pet in the fourth quarter worth approximately $1,573,000. Proficio Capital Partners LLC purchased a new stake in shares of Central Garden & Pet in the fourth quarter worth approximately $1,637,000. Finally, Congress Asset Management Co. raised its holdings in shares of Central Garden & Pet by 9.5% in the fourth quarter. Congress Asset Management Co. now owns 195,847 shares of the company’s stock worth $6,473,000 after buying an additional 17,033 shares during the period. 50.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider John D. Walker III sold 10,000 shares of Central Garden & Pet stock in a transaction on Monday, February 10th. The stock was sold at an average price of $32.86, for a total value of $328,600.00. Following the transaction, the insider now directly owns 67,111 shares in the company, valued at approximately $2,205,267.46. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 20.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Argus downgraded Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price target on Central Garden & Pet from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, StockNews.com raised Central Garden & Pet from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Central Garden & Pet Stock Down 2.3 %

Shares of NASDAQ:CENTA opened at $31.77 on Wednesday. Central Garden & Pet has a 52-week low of $27.70 and a 52-week high of $41.03. The stock has a market cap of $2.08 billion, a P/E ratio of 17.46 and a beta of 0.70. The business’s 50 day moving average is $31.75 and its 200 day moving average is $31.98. The company has a quick ratio of 1.97, a current ratio of 3.47 and a debt-to-equity ratio of 0.78.

Central Garden & Pet (NASDAQ:CENTA) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.24. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. Sell-side analysts predict that Central Garden & Pet will post 2.38 EPS for the current year.

Central Garden & Pet Profile

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish and small animals as well as outdoor cushions.