Short Interest in Central Garden & Pet (NASDAQ:CENTA) Drops By 14.7%

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 701,500 shares, a drop of 14.7% from the March 31st total of 822,800 shares. Currently, 1.3% of the company's stock are sold short. Based on an average daily trading volume, of 342,100 shares, the days-to-cover ratio is presently 2.1 days.

Central Garden & Pet Stock Performance

Central Garden & Pet stock traded up $0.73 during mid-day trading on Monday, reaching $31.00. The company's stock had a trading volume of 340,927 shares, compared to its average volume of 313,892. The company has a current ratio of 3.47, a quick ratio of 1.97 and a debt-to-equity ratio of 0.78. Central Garden & Pet has a twelve month low of $27.70 and a twelve month high of $41.03. The business has a 50 day moving average price of $31.42 and a 200-day moving average price of $31.92. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 17.03 and a beta of 0.75.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.21 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%. Sell-side analysts predict that Central Garden & Pet will post 2.38 EPS for the current fiscal year.

Insider Activity

In other news, insider John D. Walker III sold 10,000 shares of Central Garden & Pet stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $32.86, for a total transaction of $328,600.00. Following the sale, the insider now directly owns 67,111 shares of the company's stock, valued at approximately $2,205,267.46. The trade was a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 20.28% of the company's stock.

Institutional Trading of Central Garden & Pet

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC boosted its stake in Central Garden & Pet by 161.7% during the 3rd quarter. Barclays PLC now owns 122,530 shares of the company's stock valued at $3,849,000 after purchasing an additional 75,718 shares during the period. Denali Advisors LLC acquired a new position in shares of Central Garden & Pet during the fourth quarter worth approximately $1,573,000. Principal Financial Group Inc. grew its holdings in Central Garden & Pet by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 268,331 shares of the company's stock worth $8,868,000 after buying an additional 8,889 shares in the last quarter. Highbridge Capital Management LLC grew its holdings in Central Garden & Pet by 89.8% in the 4th quarter. Highbridge Capital Management LLC now owns 685,847 shares of the company's stock worth $22,667,000 after buying an additional 324,493 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Central Garden & Pet in the 4th quarter valued at approximately $473,000. 50.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CENTA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their target price on Central Garden & Pet from $34.00 to $31.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Argus cut shares of Central Garden & Pet from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Truist Financial reissued a "hold" rating and set a $35.00 price objective (down from $40.00) on shares of Central Garden & Pet in a report on Wednesday, April 30th. Finally, StockNews.com upgraded shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $36.00.

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.