Central Garden & Pet (NASDAQ:CENT) Stock Price Up 5.1% - What's Next?

Central Garden & Pet Company (NASDAQ:CENT - Get Free Report)'s stock price traded up 5.1% during trading on Friday . The stock traded as high as $38.53 and last traded at $38.32. 26,730 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 140,043 shares. The stock had previously closed at $36.45.

Analyst Upgrades and Downgrades

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

Central Garden & Pet Price Performance

The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 21.66 and a beta of 0.70. 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 company has a fifty day simple moving average of $35.65 and a two-hundred day simple moving average of $36.08.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last posted its earnings results 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 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 business's revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 earnings per share. As a group, equities research analysts expect that Central Garden & Pet Company will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Central Garden & Pet

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

Institutional Trading of Central Garden & Pet

Several institutional investors have recently modified their holdings of CENT. Exchange Traded Concepts LLC bought a new stake in shares of Central Garden & Pet in the 1st quarter valued at $1,046,000. Charles Schwab Investment Management Inc. raised its holdings 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 worth $5,365,000 after acquiring an additional 25,968 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of 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 buying an additional 3,372 shares during the last quarter. American Century Companies Inc. grew its stake 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 worth $7,764,000 after acquiring an additional 22,556 shares in the last quarter. Finally, Amundi lifted its position in shares of Central Garden & Pet by 193.8% during the 4th quarter. Amundi now owns 4,201 shares of the company's stock worth $151,000 after buying an additional 2,771 shares in the last quarter. Institutional investors own 16.13% of the company's stock.

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.