Allspring Global Investments Holdings LLC Has $56.84 Million Stock Position in Central Garden & Pet Company $CENTA

Key Points

• Allspring Global Investments trimmed its stake in Central Garden & Pet by 8% in the first quarter, selling 154,281 shares and ending with 1,770,073 shares worth about $56.84 million.
• Other institutional investors mostly added to their positions, and institutions now own about 50.82% of the company’s stock.
• Analysts remain mixed on CENTA, with a current consensus rating of Moderate Buy and an average target price of $46.67; the stock recently traded at $38.29 after the company beat quarterly earnings and revenue estimates.

Allspring Global Investments Holdings LLC reduced its holdings in shares of Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 8.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,770,073 shares of the company's stock after selling 154,281 shares during the quarter. Allspring Global Investments Holdings LLC owned 2.84% of Central Garden & Pet worth $56,837,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Illinois Municipal Retirement Fund boosted its holdings in shares of Central Garden & Pet by 1.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 33,050 shares of the company's stock valued at $1,071,000 after acquiring an additional 443 shares in the last quarter. Aristides Capital LLC boosted its stake in shares of Central Garden & Pet by 8.0% during the third quarter. Aristides Capital LLC now owns 8,436 shares of the company's stock valued at $249,000 after purchasing an additional 623 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Central Garden & Pet by 2.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,421 shares of the company's stock valued at $996,000 after purchasing an additional 743 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Central Garden & Pet by 198.4% during the fourth quarter. IFP Advisors Inc now owns 1,131 shares of the company's stock worth $33,000 after purchasing an additional 752 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of Central Garden & Pet by 1.5% in the second quarter. California State Teachers Retirement System now owns 50,530 shares of the company's stock valued at $1,581,000 after buying an additional 771 shares during the period. Institutional investors own 50.82% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on CENTA shares. Canaccord Genuity Group cut their target price on Central Garden & Pet from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Wednesday, June 17th. Weiss Ratings reissued a "hold (c+)" rating on shares of Central Garden & Pet in a research note on Tuesday, July 7th. JPMorgan Chase & Co. raised their price objective on Central Garden & Pet from $32.00 to $37.00 and gave the stock an "underweight" rating in a research report on Thursday. Zacks Research lowered Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen upgraded Central Garden & Pet from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $46.67.

Central Garden & Pet Stock Performance

Shares of Central Garden & Pet stock opened at $38.29 on Friday. Central Garden & Pet Company has a 52 week low of $25.97 and a 52 week high of $39.99. The company has a quick ratio of 2.16, a current ratio of 3.45 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average price of $36.46 and a 200-day moving average price of $33.71. The company has a market cap of $2.40 billion, a PE ratio of 13.92 and a beta of 0.57.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.21. Central Garden & Pet had a net margin of 5.42% and a return on equity of 11.55%. The company had revenue of $906.15 million for the quarter, compared to analyst estimates of $846.58 million. Central Garden & Pet has set its FY 2026 guidance at 2.700- EPS. Equities analysts anticipate that Central Garden & Pet Company will post 2.89 earnings per share for the current fiscal year.

Central Garden & Pet Profile

Central Garden & Pet Co is a leading producer, marketer and distributor of branded consumable gardening products and pet supplies in North America. Headquartered in Walnut Creek, California, the company serves both retail and wholesale customers through a network of distribution centers across the United States and Canada. Operating under the ticker symbol CENTA on the NASDAQ exchange, Central Garden & Pet has been publicly traded since 2003.

The company's Garden segment offers a broad portfolio of lawn and garden care solutions, including fertilizers, weed and pest control products, soil and mulch, and plant care accessories.

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