Central Garden & Pet (NASDAQ:CENTA) Sees Large Decrease in Short Interest

Central Garden & Pet (NASDAQ:CENTA) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 871,100 shares, a decline of 10.7% from the August 31st total of 975,600 shares. Based on an average trading volume of 323,800 shares, the days-to-cover ratio is presently 2.7 days.

Central Garden & Pet Price Performance

CENTA opened at $31.77 on Friday. The business has a fifty day moving average of $33.35 and a 200 day moving average of $34.83. Central Garden & Pet has a 52-week low of $27.88 and a 52-week high of $41.03. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75. The stock has a market cap of $2.14 billion, a P/E ratio of 14.25 and a beta of 0.73.

Central Garden & Pet (NASDAQ:CENTA) last issued its earnings results 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. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. The business had revenue of $996.35 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the business earned $1.40 EPS. As a group, sell-side analysts anticipate that Central Garden & Pet will post 2.11 EPS for the current year.

Insiders Place Their Bets

In other Central Garden & Pet news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $33.54, for a total value of $2,012,400.00. Following the sale, the chairman now owns 1,125,773 shares of the company’s stock, valued at approximately $37,758,426.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other 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 transaction of $85,700.00. Following the transaction, the director now 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 the SEC website. Also, Chairman William E. Brown sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $33.54, for a total value of $2,012,400.00. Following the transaction, 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. Insiders have sold a total of 63,986 shares of company stock valued at $2,146,841 in the last quarter. 20.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Central Garden & Pet

Several hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its stake in shares of Central Garden & Pet by 0.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 50,868 shares of the company’s stock worth $1,878,000 after purchasing an additional 256 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Central Garden & Pet by 3.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,693 shares of the company’s stock worth $427,000 after purchasing an additional 341 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Central Garden & Pet by 16.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,511 shares of the company’s stock worth $83,000 after purchasing an additional 355 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Central Garden & Pet by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 15,269 shares of the company’s stock worth $504,000 after purchasing an additional 377 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of Central Garden & Pet by 37.4% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 1,650 shares of the company’s stock worth $61,000 after purchasing an additional 449 shares during the last quarter. 50.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.