Central Garden & Pet (NASDAQ:CENT) Chairman Sells $2,012,400.00 in Stock

Central Garden & Pet (NASDAQ:CENT) Chairman William E. Brown sold 60,000 shares of the company’s 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 completion of the transaction, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at approximately $37,758,426.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Central Garden & Pet Stock Down 0.6 %

Shares of NASDAQ CENT opened at $39.25 on Wednesday. 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 of $38.87 and a 200 day moving average of $41.02. Central Garden & Pet has a 12-month low of $30.75 and a 12-month high of $47.48. The stock has a market cap of $2.65 billion, a PE ratio of 17.63 and a beta of 0.78.

Central Garden & Pet (NASDAQ:CENT) last posted its quarterly earnings results 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. 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 billion. During the same period in the prior year, the business earned $1.40 earnings per share. The business’s revenue was down 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Central Garden & Pet will post 2.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new stake in shares of Central Garden & Pet in the second quarter valued at about $113,000. Cubist Systematic Strategies LLC acquired a new position in Central Garden & Pet in the 2nd quarter valued at about $187,000. Marshall Wace LLP grew its stake in shares of Central Garden & Pet by 748.5% in the 2nd quarter. Marshall Wace LLP now owns 84,000 shares of the company’s stock valued at $3,234,000 after buying an additional 74,100 shares during the period. Public Sector Pension Investment Board increased its holdings in shares of Central Garden & Pet by 6.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 20,978 shares of the company’s stock worth $808,000 after buying an additional 1,200 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Central Garden & Pet by 20.0% during the 2nd quarter. Sei Investments Co. now owns 36,710 shares of the company’s stock valued at $1,413,000 after buying an additional 6,121 shares during the period. Hedge funds and other institutional investors own 16.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Monness Crespi & Hardt raised Central Garden & Pet to a “strong-buy” rating in a research note on Thursday, May 9th. Canaccord Genuity Group reduced their price objective 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 upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research report on Monday, July 1st. Finally, Argus upgraded shares of 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. Three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $52.75.

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.