Central Garden & Pet (NASDAQ:CENT) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. increased its holdings in Central Garden & Pet (NASDAQ:CENT) by 24.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 162,647 shares of the company’s stock after purchasing an additional 32,009 shares during the quarter. American Century Companies Inc. owned 0.24% of Central Garden & Pet worth $6,262,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in Central Garden & Pet by 6.2% in 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 in the last quarter. Orchard Capital Management LLC lifted its holdings in Central Garden & Pet by 5.6% in the 4th quarter. Orchard Capital Management LLC now owns 169,107 shares of the company’s stock valued at $8,474,000 after purchasing an additional 8,914 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Central Garden & Pet by 2.2% during 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. raised its position in shares of Central Garden & Pet by 6.8% in 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 last quarter. Finally, ProShare Advisors LLC boosted 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 acquiring an additional 24,575 shares during the last quarter. Hedge funds and other institutional investors own 16.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CENT. Canaccord Genuity Group upgraded Central Garden & Pet to a “strong-buy” rating in a report on Monday, July 1st. 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 note on Tuesday, May 28th. Finally, Canaccord Genuity Group decreased their price objective on Central Garden & Pet from $52.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, July 1st. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $52.75.

Insider Activity

In related news, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total value of $48,740.80. Following 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 legal filing with the Securities & Exchange Commission, which is available through this link. In other Central Garden & Pet 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 transaction of $2,012,400.00. Following the sale, the chairman now owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brooks Pennington III sold 1,486 shares of the business’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 completion of the transaction, the director now directly owns 40,743 shares of the company’s stock, valued at $1,336,370.40. 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 90 days. 9.53% of the stock is currently owned by corporate insiders.

Central Garden & Pet Stock Down 1.7 %

Shares of NASDAQ CENT opened at $37.08 on Wednesday. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 16.63 and a beta of 0.75. Central Garden & Pet has a 52 week low of $30.75 and a 52 week high of $47.48. The firm has a 50-day moving average price of $38.83 and a 200 day moving average price of $40.51. 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 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 net margin of 4.42% and a return on equity of 10.66%. The company had revenue of $996.35 million during the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the firm earned $1.40 EPS. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. Equities research analysts anticipate that Central Garden & Pet will post 2.11 EPS for the current fiscal year.

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.