Central Garden & Pet (NASDAQ:CENTA) Stake Reduced by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Central Garden & Pet (NASDAQ:CENTA) by 12.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 90,042 shares of the company’s stock after selling 12,355 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Central Garden & Pet were worth $2,827,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP lifted its stake in shares of 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 acquiring an additional 629 shares during the period. Federated Hermes Inc. bought a new stake in Central Garden & Pet during the second quarter worth approximately $26,000. Quest Partners LLC acquired a new stake in Central Garden & Pet in the second quarter worth approximately $37,000. CWM LLC boosted its stake in Central Garden & Pet by 3,558.1% during the 2nd quarter. CWM LLC now owns 1,134 shares of the company’s stock valued at $37,000 after purchasing an additional 1,103 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Central Garden & Pet during the 2nd quarter valued at $61,000. Institutional investors and hedge funds own 50.82% of the company’s stock.

Central Garden & Pet Stock Up 2.1 %

Shares of Central Garden & Pet stock opened at $34.72 on Friday. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 21.46 and a beta of 0.78. The stock has a 50-day simple moving average of $31.58 and a 200-day simple moving average of $32.84. Central Garden & Pet has a 52-week low of $27.70 and a 52-week high of $41.03. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19.

Wall Street Analyst Weigh In

Several brokerages have commented on CENTA. StockNews.com cut shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price objective on shares of Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Central Garden & Pet presently has an average rating of “Buy” and a consensus price target of $41.33.

Central Garden & Pet 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.