Hsbc Holdings PLC Raises Stock Holdings in Central Garden & Pet (NASDAQ:CENTA)

Hsbc Holdings PLC grew its holdings in Central Garden & Pet (NASDAQ:CENTA) by 215.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,539 shares of the company’s stock after buying an additional 16,768 shares during the quarter. Hsbc Holdings PLC’s holdings in Central Garden & Pet were worth $803,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CENTA. Dimensional Fund Advisors LP increased its stake in Central Garden & Pet by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,653,753 shares of the company’s stock worth $120,682,000 after buying an additional 29,780 shares in the last quarter. Federated Hermes Inc. purchased a new stake in shares of Central Garden & Pet during the second quarter worth approximately $26,000. GHP Investment Advisors Inc. raised its stake in Central Garden & Pet by 1.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 89,423 shares of the company’s stock valued at $2,954,000 after purchasing an additional 1,245 shares during the last quarter. BOKF NA purchased a new position in Central Garden & Pet in the 2nd quarter valued at $246,000. Finally, American Century Companies Inc. grew its holdings in shares of Central Garden & Pet by 43.0% during the second quarter. American Century Companies Inc. now owns 941,509 shares of the company’s stock worth $31,098,000 after buying an additional 283,045 shares in the last quarter. 50.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CENTA. JPMorgan Chase & Co. dropped their price objective on shares of Central Garden & Pet from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Canaccord Genuity Group upgraded Central Garden & Pet to a “strong-buy” rating in a research report on Monday, July 1st. Finally, StockNews.com downgraded Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Monday, July 1st. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Central Garden & Pet presently has a consensus rating of “Buy” and a consensus price target of $42.00.

Central Garden & Pet Price Performance

CENTA stock opened at $31.77 on Monday. Central Garden & Pet has a 52-week low of $27.88 and a 52-week high of $41.03. The business has a fifty day moving average of $33.35 and a two-hundred day moving average of $34.82. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 14.25 and a beta of 0.73. 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:CENTA) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm earned $1.40 EPS. As a group, research analysts anticipate that Central Garden & Pet will post 2.11 earnings per share for the current year.

Insider Buying and Selling

In other Central Garden & Pet news, Director John Ranelli sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $34.28, for a total value of $85,700.00. Following the sale, the director now owns 822 shares of the company’s stock, valued at $28,178.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Central Garden & Pet news, Director John Ranelli sold 2,500 shares of Central Garden & Pet stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $34.28, for a total value of $85,700.00. Following the completion of the transaction, the director now directly owns 822 shares of the company’s stock, valued at approximately $28,178.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman William E. Brown sold 60,000 shares of the stock in a transaction dated 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 directly owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,986 shares of company stock valued at $2,146,841. Company insiders own 20.28% of the company’s stock.

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.