Central Garden & Pet Company (NASDAQ:CENTA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 2.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,977,033 shares of the company's stock after selling 58,049 shares during the period. Allspring Global Investments Holdings LLC owned approximately 3.02% of Central Garden & Pet worth $64,076,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CENTA. Principal Financial Group Inc. boosted its stake in shares of Central Garden & Pet by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 268,331 shares of the company's stock valued at $8,868,000 after purchasing an additional 8,889 shares during the period. New York State Common Retirement Fund lifted its holdings in Central Garden & Pet by 60.5% during the 4th quarter. New York State Common Retirement Fund now owns 29,436 shares of the company's stock worth $973,000 after buying an additional 11,100 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in Central Garden & Pet during the 4th quarter worth approximately $264,000. Proficio Capital Partners LLC acquired a new position in shares of Central Garden & Pet in the fourth quarter worth $1,637,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Central Garden & Pet by 668.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 930 shares of the company's stock worth $31,000 after acquiring an additional 809 shares during the period. 50.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Central Garden & Pet

In other news, Chairman William E. Brown sold 7,800 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $32.04, for a total value of $249,912.00. Following the completion of the transaction, the chairman owned 377,383 shares in the company, valued at $12,091,351.32. This trade represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 107,800 shares of company stock worth $3,490,112. 20.28% of the stock is owned by insiders.

Analyst Ratings Changes

CENTA has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Central Garden & Pet from $34.00 to $31.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Truist Financial restated a "hold" rating and set a $35.00 price objective (down previously from $40.00) on shares of Central Garden & Pet in a research report on Wednesday, April 30th. Finally, Wall Street Zen upgraded Central Garden & Pet from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th.

Central Garden & Pet Stock Performance

CENTA traded up $0.03 during trading on Thursday, hitting $32.42. The stock had a trading volume of 277,075 shares, compared to its average volume of 331,195. The firm has a market capitalization of $2.12 billion, a P/E ratio of 17.33 and a beta of 0.66. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.93 and a current ratio of 3.31. Central Garden & Pet Company has a twelve month low of $27.70 and a twelve month high of $37.31. The company's 50-day moving average price is $31.19 and its 200 day moving average price is $31.70.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.10. The business had revenue of $833.54 million during the quarter, compared to the consensus estimate of $876.36 million. Central Garden & Pet had a return on equity of 10.14% and a net margin of 3.90%. On average, equities research analysts forecast that Central Garden & Pet Company will post 2.38 EPS for the current fiscal year.

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.