Insider Selling: Central Garden & Pet (NASDAQ:CENT) Chairman Sells 7,800 Shares of Stock

Central Garden & Pet (NASDAQ:CENT - Get Free Report) Chairman William E. Brown sold 7,800 shares of Central Garden & Pet stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $32.04, for a total value of $249,912.00. Following the completion of the transaction, the chairman now directly owns 377,383 shares of the company's stock, valued at $12,091,351.32. This represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Central Garden & Pet Trading Up 1.0%

Shares of CENT stock traded up $0.37 on Tuesday, reaching $35.78. 76,996 shares of the stock were exchanged, compared to its average volume of 145,693. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.47 and a quick ratio of 1.97. Central Garden & Pet has a one year low of $31.97 and a one year high of $43.88. The stock has a market cap of $2.34 billion, a PE ratio of 19.66 and a beta of 0.73. The stock has a 50 day moving average price of $35.44 and a 200 day moving average price of $36.94.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.10. The firm had revenue of $833.54 million during the quarter, compared to analyst estimates of $876.36 million. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. The company's revenue was down 7.4% on a year-over-year basis. During the same period last year, the company earned $0.99 earnings per share. Equities research analysts forecast that Central Garden & Pet will post 2.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Central Garden & Pet

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Central Garden & Pet by 9.3% in the 4th quarter. Vanguard Group Inc. now owns 1,474,313 shares of the company's stock valued at $57,203,000 after acquiring an additional 125,418 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Central Garden & Pet by 0.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 817,499 shares of the company's stock worth $29,757,000 after purchasing an additional 6,307 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Central Garden & Pet by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 796,917 shares of the company's stock valued at $30,920,000 after buying an additional 22,703 shares during the period. Millennium Management LLC grew its stake in Central Garden & Pet by 39.2% in the first quarter. Millennium Management LLC now owns 259,144 shares of the company's stock valued at $9,500,000 after acquiring an additional 72,977 shares during the period. Finally, American Century Companies Inc. increased its stake in Central Garden & Pet by 18.3% during the 1st quarter. American Century Companies Inc. now owns 236,681 shares of the company's stock worth $8,677,000 after purchasing an additional 36,590 shares in the last quarter. 16.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Truist Financial cut shares of Central Garden & Pet from a "buy" rating to a "hold" rating and set a $35.00 price target on the stock. in a research note on Wednesday, April 30th.

Central Garden & Pet Company 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.