American Century Companies Inc. Boosts Stake in Central Garden & Pet Company $CENT

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. grew its stake in shares of Central Garden & Pet Company (NASDAQ:CENT - Free Report) by 18.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 236,681 shares of the company's stock after buying 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 reporting period.

Several other hedge funds also recently bought and sold shares of the company. Public Sector Pension Investment Board lifted its stake in Central Garden & Pet by 22.8% in the 1st quarter. Public Sector Pension Investment Board now owns 29,223 shares of the company's stock worth $1,071,000 after purchasing an additional 5,425 shares in the last quarter. Nuveen LLC bought a new position in shares of Central Garden & Pet in the first quarter worth $1,034,000. Simplex Trading LLC raised its position 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Central Garden & Pet by 8.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 150,427 shares of the company's stock valued at $5,515,000 after buying an additional 12,154 shares during the period. Finally, ABC Arbitrage SA purchased a new position in Central Garden & Pet during the first quarter worth about $528,000. Hedge funds and other institutional investors own 16.13% of the company's stock.

Insider Transactions at Central Garden & Pet

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

Central Garden & Pet Price Performance

Shares of NASDAQ CENT traded up $0.48 during mid-day trading on Friday, reaching $36.43. 64,658 shares of the company were exchanged, compared to its average volume of 66,938. Central Garden & Pet Company has a 52 week low of $31.97 and a 52 week high of $43.88. The company's 50 day moving average price is $37.29 and its 200 day moving average price is $36.26. The stock has a market capitalization of $2.29 billion, a PE ratio of 16.56 and a beta of 0.70. 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 announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.22. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%.The company had revenue of $960.91 million for the quarter, compared to analysts' expectations of $993.66 million. During the same period last year, the firm posted $1.19 EPS. Central Garden & Pet's revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts forecast that Central Garden & Pet Company will post 2.38 earnings per share 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.