State Street Corp Sells 14,620 Shares of Central Garden & Pet (NASDAQ:CENT)

State Street Corp trimmed its position in shares of Central Garden & Pet (NASDAQ:CENT) by 3.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 371,577 shares of the company’s stock after selling 14,620 shares during the quarter. State Street Corp’s holdings in Central Garden & Pet were worth $13,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in shares of Central Garden & Pet by 2.2% in 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 during the last quarter. Versor Investments LP purchased a new position in shares of Central Garden & Pet during the 2nd quarter worth $270,000. Los Angeles Capital Management LLC bought a new stake in shares of Central Garden & Pet during the 2nd quarter valued at $295,000. American Century Companies Inc. increased its stake in shares of Central Garden & Pet by 24.5% in the 2nd quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock worth $6,262,000 after purchasing an additional 32,009 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Central Garden & Pet during the second quarter valued at $51,000. 16.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CENT shares. Truist Financial reduced their price target on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Canaccord Genuity Group cut their target price on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $46.75.

Central Garden & Pet Stock Performance

CENT opened at $39.43 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.19 and a current ratio of 3.66. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 24.37 and a beta of 0.80. The company has a fifty day moving average of $37.91 and a 200 day moving average of $38.00. Central Garden & Pet has a fifty-two week low of $32.17 and a fifty-two week high of $47.48.

Central Garden & Pet (NASDAQ:CENT) last issued its earnings results on Monday, November 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.04. The firm had revenue of $669.49 million for the quarter, compared to analysts’ expectations of $707.83 million. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%. Central Garden & Pet’s revenue for the quarter was down 10.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Central Garden & Pet will post 2.22 earnings per share 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.