Bridgewater Associates LP Trims Stake in Central Garden & Pet (NASDAQ:CENTA)

Bridgewater Associates LP reduced its stake in Central Garden & Pet (NASDAQ:CENTA - Free Report) by 86.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,614 shares of the company's stock after selling 84,458 shares during the quarter. Bridgewater Associates LP's holdings in Central Garden & Pet were worth $450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its position in Central Garden & Pet by 668.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 930 shares of the company's stock worth $31,000 after acquiring an additional 809 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Central Garden & Pet during the fourth quarter valued at $102,000. KBC Group NV boosted its stake in Central Garden & Pet by 50.1% during the fourth quarter. KBC Group NV now owns 3,606 shares of the company's stock worth $119,000 after acquiring an additional 1,204 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of Central Garden & Pet by 6.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,458 shares of the company's stock worth $180,000 after purchasing an additional 325 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Central Garden & Pet by 12.6% during the fourth quarter. Bank of Montreal Can now owns 6,538 shares of the company's stock valued at $216,000 after acquiring an additional 734 shares in the last quarter. 50.82% of the stock is currently owned by hedge funds and other institutional investors.

Central Garden & Pet Price Performance

Shares of CENTA traded down $0.55 during midday trading on Friday, hitting $30.23. 36,986 shares of the company traded hands, compared to its average volume of 326,384. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.97 and a current ratio of 3.47. Central Garden & Pet has a 52 week low of $27.70 and a 52 week high of $41.03. The firm has a 50 day moving average of $31.67 and a 200-day moving average of $31.85. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 16.61 and a beta of 0.75.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.24. Central Garden & Pet had a net margin of 3.77% and a return on equity of 10.08%. On average, analysts forecast that Central Garden & Pet will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

CENTA has been the topic of a number of recent analyst reports. Argus downgraded shares of Central Garden & Pet from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their target price on shares of Central Garden & Pet from $34.00 to $31.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, StockNews.com upgraded shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.00.

Insider Transactions at Central Garden & Pet

In other Central Garden & Pet news, insider John D. Walker III sold 10,000 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $32.86, for a total transaction of $328,600.00. Following the sale, the insider now owns 67,111 shares of the company's stock, valued at approximately $2,205,267.46. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 20.28% of the company's stock.

Central Garden & Pet Profile

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish, and small animals, as well as outdoor cushions.