Banque Cantonale Vaudoise Sells 654 Shares of Central Garden & Pet (NASDAQ:CENT)

Banque Cantonale Vaudoise lessened its stake in shares of Central Garden & Pet (NASDAQ:CENT) by 37.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,075 shares of the company’s stock after selling 654 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Central Garden & Pet were worth $41,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in Central Garden & Pet by 6.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company’s stock worth $34,085,000 after acquiring an additional 51,454 shares during the period. Orchard Capital Management LLC increased its holdings in shares of Central Garden & Pet by 5.6% in the fourth quarter. Orchard Capital Management LLC now owns 169,107 shares of the company’s stock worth $8,474,000 after purchasing an additional 8,914 shares during the period. Bank of New York Mellon Corp raised its position in shares of Central Garden & Pet by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company’s stock worth $3,345,000 after buying an additional 1,873 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Central Garden & Pet by 6.8% during the first quarter. Principal Financial Group Inc. now owns 53,039 shares of the company’s stock valued at $2,272,000 after buying an additional 3,397 shares during the period. Finally, ProShare Advisors LLC grew its position in Central Garden & Pet by 92.6% during the first quarter. ProShare Advisors LLC now owns 51,117 shares of the company’s stock worth $2,189,000 after buying an additional 24,575 shares in the last quarter. 16.13% of the stock is owned by hedge funds and other institutional investors.

Central Garden & Pet Stock Down 0.6 %

Shares of CENT opened at $39.25 on Wednesday. Central Garden & Pet has a 1 year low of $30.75 and a 1 year high of $47.48. 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 stock has a 50 day simple moving average of $38.87 and a two-hundred day simple moving average of $41.02. The firm has a market cap of $2.65 billion, a P/E ratio of 17.63 and a beta of 0.78.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.11. The company had revenue of $996.35 million during the quarter, compared to analysts’ expectations of $1 billion. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. On average, analysts forecast that Central Garden & Pet will post 2.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CENT shares. Argus upgraded Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, May 28th. Canaccord Genuity Group dropped their target price on shares of Central Garden & Pet from $52.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, July 1st. Canaccord Genuity Group raised shares of Central Garden & Pet to a “strong-buy” rating in a report on Monday, July 1st. Finally, Monness Crespi & Hardt raised shares of Central Garden & Pet to a “strong-buy” rating in a report on Thursday, May 9th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Central Garden & Pet presently has a consensus rating of “Buy” and a consensus price target of $52.75.

Insider Buying and Selling at Central Garden & Pet

In other news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction dated 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 transaction, the chairman now owns 1,125,773 shares in the company, valued at $37,758,426.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Brooks Pennington III sold 1,486 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total transaction of $48,740.80. Following the completion of the sale, the director now directly owns 40,743 shares in the company, valued at approximately $1,336,370.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman William E. Brown sold 60,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chairman now directly owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. The disclosure for this sale can be found here. Insiders sold a total of 63,986 shares of company stock worth $2,146,841 over the last three months. Company insiders own 9.53% of the company’s stock.

About Central Garden & Pet

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.