Central Garden & Pet (NASDAQ:CENT) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its position in Central Garden & Pet (NASDAQ:CENT) by 14.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,130 shares of the company’s stock after selling 1,208 shares during the period. Texas Permanent School Fund Corp’s holdings in Central Garden & Pet were worth $275,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. ProShare Advisors LLC increased its position in Central Garden & Pet by 92.6% during the first quarter. ProShare Advisors LLC now owns 51,117 shares of the company’s stock worth $2,189,000 after purchasing an additional 24,575 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Central Garden & Pet by 32.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,862 shares of the company’s stock worth $1,793,000 after purchasing an additional 10,237 shares during the last quarter. Orchard Capital Management LLC increased its position in Central Garden & Pet by 5.6% during the fourth quarter. Orchard Capital Management LLC now owns 169,107 shares of the company’s stock worth $8,474,000 after purchasing an additional 8,914 shares during the last quarter. Bank of New York Mellon Corp increased its position in Central Garden & Pet by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company’s stock worth $3,345,000 after purchasing an additional 1,873 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Central Garden & Pet during the second quarter worth approximately $295,000. Institutional investors and hedge funds own 16.13% of the company’s stock.

Insider Activity

In other news, Director Brooks Pennington III sold 1,486 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total value of $48,740.80. Following the completion of the transaction, the director now directly owns 40,743 shares in the company, valued at $1,336,370.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total transaction of $48,740.80. Following the transaction, the director now directly owns 40,743 shares in the company, valued at approximately $1,336,370.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Ranelli sold 2,500 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $34.28, for a total transaction of $85,700.00. Following the transaction, the director now owns 822 shares in the company, valued at $28,178.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,986 shares of company stock worth $2,146,841. 9.53% of the stock is currently owned by company insiders.

Central Garden & Pet Price Performance

CENT opened at $38.09 on Monday. 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 has a 52-week low of $30.75 and a 52-week high of $47.48. The company has a 50 day moving average of $38.89 and a two-hundred day moving average of $40.57. The company has a market cap of $2.57 billion, a P/E ratio of 17.08 and a beta of 0.75.

Central Garden & Pet (NASDAQ:CENT) last announced its earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.11. The business had revenue of $996.35 million during the quarter, compared to the consensus estimate of $1 billion. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 earnings per share. On average, analysts expect that Central Garden & Pet will post 2.11 earnings per share for the current year.

Analysts Set New Price Targets

CENT has been the subject of several research analyst reports. Argus raised shares of Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, May 28th. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. Finally, Canaccord Genuity Group decreased their price objective on shares of Central Garden & Pet from $52.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, July 1st. 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 data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $52.75.

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.