Central Garden & Pet (NASDAQ:CENT) Cut to "Hold" at Truist Financial

Truist Financial lowered shares of Central Garden & Pet (NASDAQ:CENT - Free Report) from a buy rating to a hold rating in a research note released on Wednesday morning, MarketBeat.com reports. The brokerage currently has $35.00 price objective on the stock.

Separately, Argus cut Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Central Garden & Pet currently has a consensus rating of "Buy" and a consensus price target of $43.33.

Central Garden & Pet Trading Up 0.9 %

Central Garden & Pet stock traded up $0.32 during mid-day trading on Wednesday, hitting $34.92. The company's stock had a trading volume of 44,653 shares, compared to its average volume of 144,061. The stock's fifty day moving average is $35.47 and its two-hundred day moving average is $36.90. The company has a current ratio of 3.47, a quick ratio of 1.97 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $2.29 billion, a PE ratio of 19.14 and a beta of 0.73. Central Garden & Pet has a 1 year low of $32.16 and a 1 year high of $47.48.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 anticipate that Central Garden & Pet will post 2.38 EPS for the current year.

Insider Buying and Selling at Central Garden & Pet

In other news, insider John D. Walker III sold 10,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $32.86, for a total value of $328,600.00. Following the sale, the insider now directly owns 67,111 shares in the company, valued at approximately $2,205,267.46. This trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of Central Garden & Pet by 23.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 138,273 shares of the company's stock valued at $5,365,000 after buying an additional 25,968 shares during the period. Proficio Capital Partners LLC purchased a new position in Central Garden & Pet in the fourth quarter worth approximately $682,000. JPMorgan Chase & Co. grew its holdings in Central Garden & Pet by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 35,228 shares of the company's stock worth $1,285,000 after acquiring an additional 14,964 shares in the last quarter. American Century Companies Inc. increased its position in shares of Central Garden & Pet by 12.7% in the 4th quarter. American Century Companies Inc. now owns 200,091 shares of the company's stock valued at $7,764,000 after purchasing an additional 22,556 shares during the last quarter. Finally, Amundi raised its holdings in shares of Central Garden & Pet by 193.8% in the 4th quarter. Amundi now owns 4,201 shares of the company's stock valued at $151,000 after purchasing an additional 2,771 shares in the last quarter. 16.13% of the stock is owned by institutional investors and hedge funds.

About Central Garden & Pet

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.