Allspring Global Investments Holdings LLC Boosts Holdings in Central Garden & Pet (NASDAQ:CENTA)

Allspring Global Investments Holdings LLC boosted its position in Central Garden & Pet (NASDAQ:CENTA) by 29.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,087,178 shares of the company’s stock after acquiring an additional 480,805 shares during the quarter. Allspring Global Investments Holdings LLC owned 3.10% of Central Garden & Pet worth $77,059,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Central Garden & Pet during the fourth quarter worth approximately $11,786,000. LSV Asset Management acquired a new stake in Central Garden & Pet during the fourth quarter worth approximately $5,409,000. Congress Asset Management Co. MA raised its holdings in Central Garden & Pet by 22.7% during the first quarter. Congress Asset Management Co. MA now owns 183,737 shares of the company’s stock worth $6,784,000 after purchasing an additional 33,983 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in Central Garden & Pet by 12.3% during the fourth quarter. Westwood Holdings Group Inc. now owns 800,109 shares of the company’s stock worth $35,237,000 after purchasing an additional 87,802 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Central Garden & Pet during the fourth quarter worth approximately $281,000. Institutional investors and hedge funds own 50.82% of the company’s stock.

Central Garden & Pet Price Performance

CENTA stock traded up $0.36 during trading on Tuesday, hitting $33.74. The stock had a trading volume of 23,209 shares, compared to its average volume of 258,216. The company’s 50 day moving average price is $36.32 and its two-hundred day moving average price is $34.90. Central Garden & Pet has a 1-year low of $27.88 and a 1-year high of $41.03. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 15.00 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.68 and a current ratio of 3.33.

Central Garden & Pet (NASDAQ:CENTA) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.16. Central Garden & Pet had a net margin of 4.49% and a return on equity of 11.30%. The company had revenue of $900.09 million during the quarter, compared to the consensus estimate of $895.68 million. On average, sell-side analysts forecast that Central Garden & Pet will post 2.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CENTA shares. Truist Financial lifted their target price on shares of Central Garden & Pet from $45.00 to $50.00 and gave the company a “buy” rating in a report on Monday, May 13th. Monness Crespi & Hardt lifted their target price on shares of Central Garden & Pet from $39.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, May 9th. StockNews.com cut shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Monday. Finally, Argus raised shares of Central Garden & Pet to a “strong-buy” rating in a report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Central Garden & Pet currently has a consensus rating of “Moderate Buy” and an average price target of $41.75.

Insiders Place Their Bets

In other news, Chairman William E. Brown sold 700,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $36.25, for a total transaction of $25,375,000.00. Following the completion of the transaction, the chairman now directly owns 1,189,615 shares in the company, valued at approximately $43,123,543.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Chairman William E. Brown sold 700,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $36.25, for a total transaction of $25,375,000.00. Following the sale, the chairman now directly owns 1,189,615 shares of the company’s stock, valued at approximately $43,123,543.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John D. Walker III sold 4,218 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $40.31, for a total value of $170,027.58. Following the sale, the insider now directly owns 85,063 shares in the company, valued at $3,428,889.53. The disclosure for this sale can be found here. Insiders sold a total of 714,218 shares of company stock worth $25,945,528 in the last 90 days. 20.28% of the stock is owned by company insiders.

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.