Central Garden & Pet Company $CENTA Stake Boosted by American Century Companies Inc.

Key Points

• American Century Companies Inc. has increased its stake in Central Garden & Pet Company (CENTA) by 15.2%, owning 1,581,900 shares valued at approximately $51.8 million.
• Analysts have mixed ratings for CENTA, with one brokerage upgrading it to a "buy" and others maintaining "hold" ratings, reflecting a consensus price target of $38.67.
• In recent earnings, Central Garden & Pet reported $1.56 earnings per share, exceeding analyst expectations, although revenue of $960.91 million fell short of estimates.

American Century Companies Inc. increased its stake in Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 15.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,581,900 shares of the company's stock after acquiring an additional 208,800 shares during the period. American Century Companies Inc. owned approximately 2.41% of Central Garden & Pet worth $51,776,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. lifted its position in Central Garden & Pet by 21.1% in the first quarter. Westwood Holdings Group Inc. now owns 1,164,376 shares of the company's stock worth $38,110,000 after purchasing an additional 202,761 shares during the period. Credit Industriel ET Commercial bought a new stake in shares of Central Garden & Pet in the 4th quarter worth $4,818,000. Logan Stone Capital LLC lifted its holdings in shares of Central Garden & Pet by 56.1% in the fourth quarter. Logan Stone Capital LLC now owns 399,815 shares of the company's stock valued at $13,214,000 after buying an additional 143,668 shares during the period. Nuveen LLC bought a new position in Central Garden & Pet during the first quarter valued at about $4,528,000. Finally, D. E. Shaw & Co. Inc. grew its holdings in Central Garden & Pet by 76.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 175,925 shares of the company's stock worth $5,814,000 after acquiring an additional 75,986 shares during the period. Institutional investors own 50.82% of the company's stock.

Insider Activity at Central Garden & Pet

In other news, Chairman William E. Brown sold 7,800 shares of Central Garden & Pet stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $32.04, for a total transaction of $249,912.00. Following the transaction, the chairman owned 377,383 shares in the company, valued at approximately $12,091,351.32. The trade was a 2.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 20.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Canaccord Genuity Group upped their price target on shares of Central Garden & Pet from $45.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Wall Street Zen raised shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Truist Financial restated a "hold" rating and set a $35.00 target price (down from $40.00) on shares of Central Garden & Pet in a report on Wednesday, April 30th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Central Garden & Pet currently has a consensus rating of "Hold" and an average target price of $38.67.

Central Garden & Pet Trading Down 1.5%

Shares of Central Garden & Pet stock traded down $0.50 during trading on Monday, hitting $32.70. The stock had a trading volume of 398,040 shares, compared to its average volume of 408,199. Central Garden & Pet Company has a 1 year low of $27.70 and a 1 year high of $37.35. The stock has a 50 day simple moving average of $33.38 and a 200 day simple moving average of $32.22. The company has a quick ratio of 2.28, a current ratio of 3.56 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $2.06 billion, a PE ratio of 14.86 and a beta of 0.67.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.22. Central Garden & Pet had a net margin of 4.44% and a return on equity of 10.77%. The firm had revenue of $960.91 million during the quarter, compared to analyst estimates of $993.66 million. On average, research analysts expect 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.