Intech Investment Management LLC Makes New Investment in Central Garden & Pet (NASDAQ:CENTA)

Intech Investment Management LLC purchased a new position in shares of Central Garden & Pet (NASDAQ:CENTA) during the second quarter, HoldingsChannel reports. The fund purchased 10,314 shares of the company’s stock, valued at approximately $341,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. bought a new stake in Central Garden & Pet during the 2nd quarter worth approximately $26,000. Quest Partners LLC bought a new stake in shares of Central Garden & Pet during the second quarter worth $37,000. CWM LLC raised its holdings in shares of Central Garden & Pet by 3,558.1% during the second quarter. CWM LLC now owns 1,134 shares of the company’s stock worth $37,000 after acquiring an additional 1,103 shares during the period. GAMMA Investing LLC lifted its position in Central Garden & Pet by 61.3% in the 1st quarter. GAMMA Investing LLC now owns 1,366 shares of the company’s stock valued at $50,000 after acquiring an additional 519 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in Central Garden & Pet by 37.4% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 1,650 shares of the company’s stock valued at $61,000 after acquiring an additional 449 shares in the last quarter. Institutional investors and hedge funds own 50.82% of the company’s stock.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of the business’s 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 transaction, the director now owns 40,743 shares of the company’s stock, valued at $1,336,370.40. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director John Ranelli sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $34.28, for a total transaction of $85,700.00. Following the completion of the sale, the director now owns 822 shares in the company, valued at approximately $28,178.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brooks Pennington III sold 1,486 shares of the company’s 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 completion of the transaction, the director now owns 40,743 shares in the company, valued at approximately $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 quarter. 20.28% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on CENTA shares. StockNews.com downgraded Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Monday, July 1st. JPMorgan Chase & Co. dropped their target price on Central Garden & Pet from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group upgraded Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. Two analysts have rated the stock with a hold rating, two have given 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 an average target price of $42.00.

Central Garden & Pet Price Performance

NASDAQ:CENTA opened at $31.77 on Friday. The stock’s 50-day simple moving average is $33.35 and its 200 day simple moving average is $34.85. Central Garden & Pet has a 52-week low of $27.88 and a 52-week high of $41.03. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.16 and a current ratio of 3.66. The company has a market cap of $2.14 billion, a P/E ratio of 14.25 and a beta of 0.73.

Central Garden & Pet (NASDAQ:CENTA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. The company had revenue of $996.35 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the business posted $1.40 EPS. As a group, sell-side analysts forecast 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.