Wealth Enhancement Advisory Services LLC Purchases 3,560 Shares of Central Garden & Pet (NASDAQ:CENTA)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Central Garden & Pet (NASDAQ:CENTA) by 39.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,650 shares of the company’s stock after acquiring an additional 3,560 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Central Garden & Pet were worth $397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quarry LP boosted its stake in Central Garden & Pet by 503.2% in the 2nd quarter. Quarry LP now owns 754 shares of the company’s stock worth $25,000 after purchasing an additional 629 shares during the period. Federated Hermes Inc. acquired a new position in shares of Central Garden & Pet during the second quarter worth about $26,000. CWM LLC grew 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 buying an additional 1,103 shares in the last quarter. Quest Partners LLC acquired a new stake in Central Garden & Pet in the 2nd quarter valued at approximately $37,000. Finally, Public Employees Retirement Association of Colorado lifted its stake 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. 50.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. StockNews.com lowered shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Two equities research 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $41.33.

Central Garden & Pet Price Performance

Shares of CENTA opened at $31.75 on Friday. 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’s fifty day simple moving average is $30.99 and its 200 day simple moving average is $33.59. Central Garden & Pet has a 1-year low of $27.70 and a 1-year high of $41.03. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 14.64 and a beta of 0.73.

Central Garden & Pet (NASDAQ:CENTA) last released its quarterly earnings data on Wednesday, August 7th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The company had revenue of $996.35 million for the quarter, compared to analyst estimates of $1.01 billion. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. During the same period in the previous year, the business earned $1.40 EPS. On average, research analysts forecast that Central Garden & Pet will post 2.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman William E. Brown sold 60,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at approximately $37,758,426.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Central Garden & Pet news, Director John Ranelli sold 2,500 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $34.28, for a total value of $85,700.00. Following the transaction, the director now directly owns 822 shares of the company’s stock, valued at $28,178.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman William E. Brown sold 60,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $37,758,426.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,986 shares of company stock worth $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.