nVerses Capital LLC Increases Stake in Central Garden & Pet (NASDAQ:CENTA)

nVerses Capital LLC boosted its stake in Central Garden & Pet (NASDAQ:CENTA) by 216.7% in the second quarter, Holdings Channel.com reports. The firm owned 1,900 shares of the company’s stock after acquiring an additional 1,300 shares during the quarter. nVerses Capital LLC’s holdings in Central Garden & Pet were worth $63,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Natixis Advisors L.P. purchased a new stake in shares of Central Garden & Pet during the 4th quarter worth about $494,000. LSV Asset Management purchased a new stake in Central Garden & Pet during the fourth quarter worth approximately $5,409,000. Charles Schwab Investment Management Inc. increased its position in shares of Central Garden & Pet by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 522,525 shares of the company’s stock worth $23,012,000 after acquiring an additional 3,149 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Central Garden & Pet by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,740,909 shares of the company’s stock valued at $120,711,000 after acquiring an additional 23,601 shares during the period. Finally, Norges Bank acquired a new position in shares of Central Garden & Pet during the 4th quarter valued at $11,786,000. Institutional investors and hedge funds own 50.82% of the company’s stock.

Central Garden & Pet Price Performance

Shares of NASDAQ CENTA opened at $33.70 on Thursday. 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 market capitalization of $2.27 billion, a price-to-earnings ratio of 15.11 and a beta of 0.75. Central Garden & Pet has a twelve month low of $27.88 and a twelve month high of $41.03. The business has a 50 day simple moving average of $33.50 and a 200-day simple moving average of $35.32.

Central Garden & Pet (NASDAQ:CENTA) last released its earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. The firm had revenue of $996.35 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned $1.40 earnings per share. As a group, equities research analysts expect that Central Garden & Pet will post 2.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CENTA has been the topic of a number of recent research reports. Truist Financial boosted their price objective on Central Garden & Pet from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. StockNews.com downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Monday, July 1st. Argus raised shares of Central Garden & Pet to a “strong-buy” rating in a research report on Tuesday, May 28th. 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 lifted their price objective on Central Garden & Pet from $39.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $42.00.

Insider Transactions at Central Garden & Pet

In other news, Director Brooks Pennington III sold 1,486 shares of Central Garden & Pet stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total transaction of $48,740.80. Following the sale, the director now owns 40,743 shares of the company’s stock, valued at $1,336,370.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Chairman William E. Brown sold 60,000 shares of the stock in a transaction on 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 owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brooks Pennington III sold 1,486 shares of Central Garden & Pet stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total transaction of $48,740.80. Following the sale, the director now owns 40,743 shares in the company, valued at $1,336,370.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,986 shares of company stock worth $2,146,841. 20.28% of the stock is currently 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.