Bank of America Corp DE Sells 28,826 Shares of Central Garden & Pet Company $CENT

Key Points

• Bank of America reduced its Central Garden & Pet stake by 16.6%, selling 28,826 shares during the first quarter and retaining 144,508 shares valued at approximately $5.3 million.
• Central Garden & Pet slightly exceeded quarterly earnings expectations, reporting $1.54 EPS and $883.72 million in revenue, though revenue fell 8.2% year over year.
• Analyst sentiment remains moderately positive, with an average “Moderate Buy” rating and a $54 price target compared with the stock’s recent $43.70 opening price.

Bank of America Corp DE cut its holdings in shares of Central Garden & Pet Company (NASDAQ:CENT - Free Report) by 16.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,508 shares of the company's stock after selling 28,826 shares during the quarter. Bank of America Corp DE owned about 0.23% of Central Garden & Pet worth $5,314,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CENT. Russell Investments Group Ltd. raised its position in shares of Central Garden & Pet by 632.3% in the third quarter. Russell Investments Group Ltd. now owns 974 shares of the company's stock valued at $32,000 after purchasing an additional 841 shares during the period. Quarry LP bought a new stake in shares of Central Garden & Pet during the 3rd quarter worth about $35,000. Tower Research Capital LLC TRC grew its stake in Central Garden & Pet by 152.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,920 shares of the company's stock valued at $68,000 after buying an additional 1,159 shares during the last quarter. Fifth Third Bancorp grew its stake in Central Garden & Pet by 1,532.7% in the 1st quarter. Fifth Third Bancorp now owns 1,845 shares of the company's stock valued at $68,000 after buying an additional 1,732 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new position in Central Garden & Pet in the 3rd quarter valued at about $94,000. Institutional investors own 16.13% of the company's stock.

Insiders Place Their Bets

In other Central Garden & Pet news, insider John D. Walker III sold 5,000 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $38.50, for a total value of $192,500.00. Following the transaction, the insider directly owned 64,679 shares of the company's stock, valued at $2,490,141.50. This trade represents a 7.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.20% of the stock is owned by corporate insiders.

Central Garden & Pet Price Performance

Shares of Central Garden & Pet stock opened at $43.70 on Friday. Central Garden & Pet Company has a twelve month low of $28.77 and a twelve month high of $46.97. The company has a quick ratio of 2.67, a current ratio of 3.79 and a debt-to-equity ratio of 0.68. The company has a 50-day simple moving average of $43.84 and a two-hundred day simple moving average of $40.20. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 16.31 and a beta of 0.61.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.01. Central Garden & Pet had a net margin of 5.39% and a return on equity of 11.13%. The firm had revenue of $883.72 million for the quarter, compared to analyst estimates of $882.96 million. During the same quarter in the prior year, the business posted $1.56 EPS. The business's revenue was down 8.2% compared to the same quarter last year. Central Garden & Pet has set its FY 2026 guidance at 2.850- EPS. Analysts forecast that Central Garden & Pet Company will post 2.98 EPS for the current year.

Wall Street Analysts Forecast Growth

CENT has been the subject of several research reports. Weiss Ratings downgraded shares of Central Garden & Pet from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 18th. Zacks Research lowered Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 10th. Finally, Canaccord Genuity Group increased their target price on Central Garden & Pet from $51.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Central Garden & Pet currently has an average rating of "Moderate Buy" and an average target price of $54.00.

Central Garden & Pet Profile

Central Garden & Pet NASDAQ: CENT is a leading North American specialty retailer, manufacturer and distributor serving the lawn and garden and pet supplies markets. The company operates through two primary segments: Pet and Garden. In the Pet segment, Central Garden & Pet offers a comprehensive range of products including pet food, treats, accessories, training products and habitat solutions for dogs, cats, birds, fish and small animals. The Garden segment encompasses a wide array of lawn, garden and outdoor living products, such as soils, fertilizers, planters, pest control solutions, landscape lighting and watering equipment.

Central Garden & Pet's product portfolio includes both proprietary and branded offerings.

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