Central Garden & Pet (NASDAQ:CENT) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its stake in shares of Central Garden & Pet (NASDAQ:CENT - Free Report) by 16.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 194,681 shares of the company's stock after selling 38,900 shares during the quarter. Bank of America Corp DE owned approximately 0.30% of Central Garden & Pet worth $7,554,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new stake in Central Garden & Pet during the 4th quarter worth about $58,000. Tower Research Capital LLC TRC increased its holdings in shares of Central Garden & Pet by 201.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,818 shares of the company's stock valued at $148,000 after acquiring an additional 2,550 shares during the last quarter. Amundi raised its position in shares of Central Garden & Pet by 193.8% during the 4th quarter. Amundi now owns 4,201 shares of the company's stock worth $151,000 after acquiring an additional 2,771 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Central Garden & Pet by 22.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,002 shares of the company's stock worth $310,000 after acquiring an additional 1,488 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Central Garden & Pet during the 4th quarter worth about $396,000. Hedge funds and other institutional investors own 16.13% of the company's stock.

Analyst Ratings Changes

Separately, Truist Financial lowered Central Garden & Pet from a "buy" rating to a "hold" rating and set a $35.00 target price on the stock. in a research report on Wednesday, April 30th.

Central Garden & Pet Stock Down 1.5%

Shares of NASDAQ CENT traded down $0.55 during midday trading on Wednesday, hitting $36.08. 57,946 shares of the company's stock were exchanged, compared to its average volume of 145,571. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.47 and a quick ratio of 1.97. Central Garden & Pet has a twelve month low of $31.97 and a twelve month high of $46.85. The company has a market cap of $2.36 billion, a PE ratio of 19.82 and a beta of 0.73. The firm's fifty day simple moving average is $35.35 and its 200-day simple moving average is $36.99.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.10. The firm had revenue of $833.54 million for the quarter, compared to the consensus estimate of $876.36 million. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. The firm's quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. Research analysts predict that Central Garden & Pet will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman William E. Brown sold 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $32.42, for a total transaction of $1,296,800.00. Following the transaction, the chairman now owns 1,030,365 shares in the company, valued at $33,404,433.30. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.19% of the stock is currently owned by company insiders.

About Central Garden & Pet

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.