Central Garden & Pet (NASDAQ:CENT) Shares Cross Above 200-Day Moving Average - Time to Sell?

Central Garden & Pet Company (NASDAQ:CENT - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $36.08 and traded as high as $40.55. Central Garden & Pet shares last traded at $40.51, with a volume of 79,959 shares changing hands.

Wall Street Analysts Forecast Growth

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

Central Garden & Pet Stock Performance

The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.93 and a current ratio of 3.31. The firm has a market cap of $2.62 billion, a P/E ratio of 21.42 and a beta of 0.70. The business's 50-day simple moving average is $36.09 and its 200 day simple moving average is $36.16.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.10. The business had revenue of $833.54 million for the quarter, compared to analysts' expectations of $876.36 million. Central Garden & Pet had a net margin of 3.90% and a return on equity of 10.14%. The company's revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 EPS. As a group, equities analysts predict that Central Garden & Pet Company will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman William E. Brown sold 7,800 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $32.04, for a total transaction of $249,912.00. Following the transaction, the chairman directly owned 377,383 shares in the company, valued at approximately $12,091,351.32. This represents a 2.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 107,800 shares of company stock valued at $3,490,112. 8.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Central Garden & Pet

Hedge funds have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its stake in shares of Central Garden & Pet by 32.5% during the first quarter. Teacher Retirement System of Texas now owns 22,444 shares of the company's stock valued at $823,000 after purchasing an additional 5,507 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Central Garden & Pet during the first quarter valued at approximately $1,046,000. Charles Schwab Investment Management Inc. lifted its position in Central Garden & Pet by 23.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 138,273 shares of the company's stock valued at $5,365,000 after acquiring an additional 25,968 shares during the last quarter. GAMMA Investing LLC lifted 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 valued at $126,000 after acquiring an additional 3,372 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Central Garden & Pet by 12.7% during the fourth quarter. American Century Companies Inc. now owns 200,091 shares of the company's stock valued at $7,764,000 after acquiring an additional 22,556 shares during the last quarter. 16.13% of the stock is currently owned by institutional investors.

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.