Bank of New York Mellon Corp Purchases 1,873 Shares of Central Garden & Pet (NASDAQ:CENT)

Bank of New York Mellon Corp increased its position in Central Garden & Pet (NASDAQ:CENT) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 86,877 shares of the company’s stock after purchasing an additional 1,873 shares during the quarter. Bank of New York Mellon Corp’s holdings in Central Garden & Pet were worth $3,345,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. EntryPoint Capital LLC increased its position in Central Garden & Pet by 909.2% during the first quarter. EntryPoint Capital LLC now owns 4,269 shares of the company’s stock worth $183,000 after buying an additional 3,846 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Central Garden & Pet by 112.4% during the 1st quarter. BNP Paribas Financial Markets now owns 6,169 shares of the company’s stock worth $264,000 after acquiring an additional 3,265 shares during the last quarter. SageView Advisory Group LLC bought a new stake in Central Garden & Pet in the 1st quarter valued at $301,000. Inspire Investing LLC lifted its holdings in Central Garden & Pet by 9.3% during the 1st quarter. Inspire Investing LLC now owns 8,386 shares of the company’s stock valued at $359,000 after purchasing an additional 712 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Central Garden & Pet by 32.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,862 shares of the company’s stock worth $1,793,000 after purchasing an additional 10,237 shares during the period. 16.13% of the stock is currently owned by institutional investors and hedge funds.

Central Garden & Pet Price Performance

Shares of Central Garden & Pet stock opened at $38.38 on Friday. The company has a 50-day simple moving average of $38.83 and a two-hundred day simple moving average of $40.75. Central Garden & Pet has a twelve month low of $30.75 and a twelve month high of $47.48. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 17.21 and a beta of 0.75. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $1 billion. During the same period in the previous year, the company posted $1.40 earnings per share. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. Analysts forecast that Central Garden & Pet will post 2.11 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CENT shares. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. Canaccord Genuity Group cut 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. Finally, Argus raised Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, May 28th. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $52.75.

Insider Buying and Selling

In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of the 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 directly owns 40,743 shares in the company, valued at $1,336,370.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet 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 transaction, the chairman now owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brooks Pennington III sold 1,486 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,986 shares of company stock worth $2,146,841. 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.