Credit Industriel ET Commercial Buys Shares of 145,770 Central Garden & Pet (NASDAQ:CENTA)

Credit Industriel ET Commercial acquired a new stake in Central Garden & Pet (NASDAQ:CENTA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 145,770 shares of the company's stock, valued at approximately $4,818,000. Central Garden & Pet comprises approximately 0.6% of Credit Industriel ET Commercial's investment portfolio, making the stock its 21st biggest position. Credit Industriel ET Commercial owned 0.22% of Central Garden & Pet at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC increased its stake in shares of Central Garden & Pet by 161.7% during the third quarter. Barclays PLC now owns 122,530 shares of the company's stock valued at $3,849,000 after buying an additional 75,718 shares during the period. NorthRock Partners LLC purchased a new position in shares of Central Garden & Pet during the fourth quarter valued at approximately $1,922,000. Denali Advisors LLC purchased a new position in shares of Central Garden & Pet during the fourth quarter valued at approximately $1,573,000. Principal Financial Group Inc. increased its stake in shares of Central Garden & Pet by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 268,331 shares of the company's stock valued at $8,868,000 after buying an additional 8,889 shares during the period. Finally, Highbridge Capital Management LLC increased its stake in shares of Central Garden & Pet by 89.8% during the fourth quarter. Highbridge Capital Management LLC now owns 685,847 shares of the company's stock valued at $22,667,000 after buying an additional 324,493 shares during the period. Institutional investors own 50.82% of the company's stock.

Central Garden & Pet Stock Down 1.1%

CENTA stock traded down $0.35 during midday trading on Wednesday, hitting $32.03. The stock had a trading volume of 196,440 shares, compared to its average volume of 319,636. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 17.60 and a beta of 0.68. The business has a 50-day moving average of $31.30 and a two-hundred day moving average of $32.08. Central Garden & Pet has a 52-week low of $27.70 and a 52-week high of $38.78. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.47 and a quick ratio of 1.97.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last released 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. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. The firm had revenue of $833.54 million for the quarter, compared to analysts' expectations of $876.36 million. As a group, equities research analysts forecast that Central Garden & Pet will post 2.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CENTA has been the topic of several research analyst reports. Wall Street Zen raised Central Garden & Pet from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. reduced their price target on Central Garden & Pet from $34.00 to $31.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Truist Financial reaffirmed a "hold" rating and issued a $35.00 price target (down from $40.00) on shares of Central Garden & Pet in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Central Garden & Pet has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

Insider Transactions at Central Garden & Pet

In other Central Garden & Pet news, Chairman William E. Brown sold 40,000 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $32.42, for a total transaction of $1,296,800.00. Following the transaction, the chairman now owns 1,030,365 shares in the company, valued at approximately $33,404,433.30. This represents a 3.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 20.28% of the company's stock.

Central Garden & Pet 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.