Central Garden & Pet (NASDAQ:CENT) Hits New 12-Month Low - What's Next?

Central Garden & Pet (NASDAQ:CENT - Get Free Report)'s share price reached a new 52-week low on Thursday . The stock traded as low as $31.97 and last traded at $34.59, with a volume of 182527 shares trading hands. The stock had previously closed at $34.45.

Analyst Ratings Changes

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 report on Wednesday, April 30th.

Central Garden & Pet Price Performance

The company has a debt-to-equity ratio of 0.78, a current ratio of 3.47 and a quick ratio of 1.97. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 19.20 and a beta of 0.73. The stock's 50 day simple moving average is $35.45 and its 200-day simple moving average is $36.93.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.10. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. The company had revenue of $833.54 million for the quarter, compared to analyst estimates of $876.36 million. During the same period last year, the company earned $0.99 earnings per share. The business's revenue was down 7.4% compared to the same quarter last year. On average, analysts expect that Central Garden & Pet will post 2.38 EPS for the current fiscal year.

Insider Activity

In other Central Garden & Pet news, insider John D. Walker III sold 10,000 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $32.86, for a total transaction of $328,600.00. Following the completion of the sale, the insider now owns 67,111 shares of the company's stock, valued at $2,205,267.46. This represents a 12.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.19% of the stock is currently owned by insiders.

Institutional Trading of Central Garden & Pet

A number of institutional investors and hedge funds have recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in shares of Central Garden & Pet in the first quarter valued at about $33,000. KLP Kapitalforvaltning AS acquired a new position in shares of Central Garden & Pet during the fourth quarter worth approximately $58,000. New York State Common Retirement Fund lifted its holdings in shares of Central Garden & Pet by 13.7% during the first quarter. New York State Common Retirement Fund now owns 2,820 shares of the company's stock worth $103,000 after buying an additional 339 shares during the last quarter. GAMMA Investing LLC increased its position in Central Garden & Pet by 4,556.8% during the first quarter. GAMMA Investing LLC now owns 3,446 shares of the company's stock worth $126,000 after acquiring an additional 3,372 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Central Garden & Pet by 201.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,818 shares of the company's stock worth $148,000 after acquiring an additional 2,550 shares during the period. 16.13% of the stock is currently 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.