Royce & Associates LP Cuts Stake in Central Garden & Pet (NASDAQ:CENT)

Royce & Associates LP lessened its position in Central Garden & Pet (NASDAQ:CENT) by 17.0% in the 3rd quarter, Holdings Channel reports. The fund owned 28,350 shares of the company’s stock after selling 5,824 shares during the period. Royce & Associates LP’s holdings in Central Garden & Pet were worth $1,034,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in Central Garden & Pet by 112.4% in the 1st quarter. BNP Paribas Financial Markets now owns 6,169 shares of the company’s stock valued at $264,000 after purchasing an additional 3,265 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Central Garden & Pet by 32.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,862 shares of the company’s stock valued at $1,793,000 after buying an additional 10,237 shares in the last quarter. Bank of New York Mellon Corp grew its holdings 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 acquiring an additional 1,873 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Central Garden & Pet by 6.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company’s stock valued at $34,085,000 after acquiring an additional 51,454 shares during the period. Finally, Versor Investments LP purchased a new stake in shares of Central Garden & Pet during the 2nd quarter worth $270,000. Hedge funds and other institutional investors own 16.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CENT. Truist Financial cut their price target on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Canaccord Genuity Group reiterated a “buy” rating and set a $48.00 price target on shares of Central Garden & Pet in a research report on Monday, September 30th. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $47.50.

Central Garden & Pet Price Performance

CENT stock opened at $37.37 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.16 and a current ratio of 3.66. The stock’s 50 day moving average price is $35.76 and its 200 day moving average price is $38.76. The firm has a market cap of $2.52 billion, a P/E ratio of 17.22 and a beta of 0.75. Central Garden & Pet has a 1 year low of $30.75 and a 1 year high of $47.48.

Insider Activity at Central Garden & Pet

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 shares were sold at an average price of $33.54, for a total value of $2,012,400.00. Following the completion of the sale, 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 5.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.53% 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.