Bank of New York Mellon Corp Sells 20,807 Shares of Central Garden & Pet Company (NASDAQ:CENTA)

Bank of New York Mellon Corp cut its holdings in Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 4.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 401,277 shares of the company's stock after selling 20,807 shares during the period. Bank of New York Mellon Corp owned 0.61% of Central Garden & Pet worth $13,134,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CENTA. Summit Investment Advisors Inc. raised its position in Central Garden & Pet by 6.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,458 shares of the company's stock worth $180,000 after purchasing an additional 325 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Central Garden & Pet by 3.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,048 shares of the company's stock valued at $431,000 after purchasing an additional 398 shares during the period. Sei Investments Co. raised its holdings in shares of Central Garden & Pet by 0.8% in the 4th quarter. Sei Investments Co. now owns 49,074 shares of the company's stock worth $1,622,000 after buying an additional 410 shares in the last quarter. Swiss National Bank lifted its position in shares of Central Garden & Pet by 0.7% during the 4th quarter. Swiss National Bank now owns 107,637 shares of the company's stock worth $3,557,000 after buying an additional 700 shares during the period. Finally, Bank of Montreal Can lifted its position in shares of Central Garden & Pet by 12.6% during the 4th quarter. Bank of Montreal Can now owns 6,538 shares of the company's stock worth $216,000 after buying an additional 734 shares during the period. Institutional investors and hedge funds 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 the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $32.04, for a total value of $249,912.00. Following the transaction, the chairman directly owned 377,383 shares in the company, valued at $12,091,351.32. This trade represents a 2.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 107,800 shares of company stock worth $3,490,112. Insiders own 20.28% of the company's stock.

Central Garden & Pet Trading Down 1.7%

Shares of NASDAQ CENTA traded down $0.64 during midday trading on Thursday, hitting $36.63. The stock had a trading volume of 256,720 shares, compared to its average volume of 494,749. The firm has a market cap of $2.40 billion, a P/E ratio of 19.59 and a beta of 0.66. Central Garden & Pet Company has a fifty-two week low of $27.70 and a fifty-two week high of $37.35. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.31 and a quick ratio of 1.93. The company's 50-day simple moving average is $32.50 and its 200 day simple moving average is $31.83.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.10. The business had revenue of $833.54 million for the quarter, compared to analysts' expectations of $876.36 million. Central Garden & Pet had a return on equity of 10.14% and a net margin of 3.90%. Research analysts anticipate that Central Garden & Pet Company will post 2.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CENTA shares. Truist Financial restated a "hold" rating and set a $35.00 target price (down previously from $40.00) on shares of Central Garden & Pet in a report on Wednesday, April 30th. Wall Street Zen raised shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Central Garden & Pet from $34.00 to $31.00 and set a "neutral" rating for the company in a research report on Friday, April 11th.

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.