Quest Partners LLC Purchases New Position in Central Garden & Pet (NASDAQ:CENT)

Quest Partners LLC acquired a new position in Central Garden & Pet (NASDAQ:CENT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,858 shares of the company’s stock, valued at approximately $797,000.

Several other large investors have also bought and sold shares of CENT. Inspire Investing LLC lifted its stake in shares of Central Garden & Pet by 10.3% in the 2nd quarter. Inspire Investing LLC now owns 9,247 shares of the company’s stock valued at $356,000 after purchasing an additional 861 shares during the period. Public Sector Pension Investment Board lifted its position in Central Garden & Pet by 6.1% during the second quarter. Public Sector Pension Investment Board now owns 20,978 shares of the company’s stock valued at $808,000 after buying an additional 1,200 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Central Garden & Pet during the 2nd quarter valued at $51,000. Bank of New York Mellon Corp grew its position in shares of Central Garden & Pet by 2.2% in the 2nd 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 period. Finally, Point72 Asset Management L.P. bought a new position in shares of Central Garden & Pet in the 2nd quarter worth about $113,000. 16.13% of the stock is owned by institutional investors.

Central Garden & Pet Trading Up 2.6 %

NASDAQ:CENT opened at $38.36 on Friday. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 17.69 and a beta of 0.75. 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 company’s 50 day moving average price is $35.78 and its 200-day moving average price is $38.75. Central Garden & Pet has a 52 week low of $31.31 and a 52 week high of $47.48.

Insiders Place Their Bets

In other news, Chairman William E. Brown sold 60,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the sale, the chairman now owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. This trade represents a 5.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 9.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $48.00 price objective on shares of Central Garden & Pet in a research note on Monday, September 30th. Truist Financial dropped their price target on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Three 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, the stock presently has a consensus rating of “Buy” and an average price target of $47.50.

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.