Central Garden & Pet Company $CENT Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Central Garden & Pet Company to 236,681 shares, valuing the investment at approximately $8.68 million.
• Truist Financial has dropped its rating on Central Garden & Pet from "buy" to "hold" with a target price of $35.00.
• Central Garden & Pet reported a quarterly earnings per share of $1.56, beating estimates but showing a 3.6% decrease in year-over-year revenue.

American Century Companies Inc. raised its holdings in shares of Central Garden & Pet Company (NASDAQ:CENT - Free Report) by 18.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 236,681 shares of the company's stock after purchasing an additional 36,590 shares during the period. American Century Companies Inc. owned 0.36% of Central Garden & Pet worth $8,677,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Public Sector Pension Investment Board raised its holdings in shares of Central Garden & Pet by 22.8% in the first quarter. Public Sector Pension Investment Board now owns 29,223 shares of the company's stock worth $1,071,000 after buying an additional 5,425 shares during the last quarter. Nuveen LLC purchased a new position in shares of Central Garden & Pet in the first quarter worth $1,034,000. Simplex Trading LLC raised its holdings in shares of Central Garden & Pet by 136.2% in the first quarter. Simplex Trading LLC now owns 2,048 shares of the company's stock worth $75,000 after buying an additional 1,181 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Central Garden & Pet by 8.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 150,427 shares of the company's stock worth $5,515,000 after acquiring an additional 12,154 shares during the period. Finally, ABC Arbitrage SA acquired a new stake in shares of Central Garden & Pet in the first quarter worth $528,000. Hedge funds and other institutional investors own 16.13% of the company's stock.

Central Garden & Pet Stock Performance

Shares of NASDAQ:CENT traded up $0.48 during midday trading on Monday, reaching $36.43. The company's stock had a trading volume of 64,658 shares, compared to its average volume of 67,015. The firm has a market capitalization of $2.29 billion, a PE ratio of 16.56 and a beta of 0.69. Central Garden & Pet Company has a twelve month low of $31.97 and a twelve month high of $43.88. The stock has a fifty day moving average of $37.32 and a 200 day moving average of $36.21. The company has a quick ratio of 2.28, a current ratio of 3.56 and a debt-to-equity ratio of 0.75.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.22. The firm had revenue of $960.91 million for the quarter, compared to analyst estimates of $993.66 million. Central Garden & Pet had a net margin of 4.44% and a return on equity of 10.77%. The business's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 earnings per share. On average, equities analysts expect that Central Garden & Pet Company will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling at Central Garden & Pet

In related news, Director John Ranelli sold 3,076 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $32.58, for a total transaction of $100,216.08. Following the sale, the director owned 1,427 shares in the company, valued at approximately $46,491.66. This trade represents a 68.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John D. Walker III sold 3,500 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $32.59, for a total transaction of $114,065.00. Following the sale, the insider owned 67,328 shares in the company, valued at approximately $2,194,219.52. This represents a 4.94% decrease in their position. The disclosure for this sale can be found here. 8.19% of the stock is currently owned by company insiders.

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.