Bank of New York Mellon Corp Takes $2.16 Million Position in Central Garden & Pet Company $CENT

Key Points

• Bank of New York Mellon acquired 48,635 shares of Central Garden & Pet, valued at approximately $2.16 million, giving it a 0.08% stake.
• Institutional investors and hedge funds own 16.13% of the company, while insider John Walker III sold 5,000 shares for $192,500; insiders retain an 8.20% stake.
• Central Garden & Pet narrowly exceeded quarterly earnings and revenue estimates, while analysts maintain a consensus “Buy” rating with a $54 target price versus a recent share price of $41.71.

Bank of New York Mellon Corp acquired a new position in shares of Central Garden & Pet Company (NASDAQ:CENT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 48,635 shares of the company's stock, valued at approximately $2,156,000. Bank of New York Mellon Corp owned approximately 0.08% of Central Garden & Pet as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Russell Investments Group Ltd. increased its stake in Central Garden & Pet by 632.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 974 shares of the company's stock worth $32,000 after purchasing an additional 841 shares in the last quarter. Quarry LP purchased a new stake in Central Garden & Pet during the third quarter valued at about $35,000. Versant Capital Management Inc lifted its stake in Central Garden & Pet by 119.9% during the second quarter. Versant Capital Management Inc now owns 1,315 shares of the company's stock valued at $58,000 after buying an additional 717 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Central Garden & Pet by 1,532.7% in the first quarter. Fifth Third Bancorp now owns 1,845 shares of the company's stock worth $68,000 after buying an additional 1,732 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Central Garden & Pet by 152.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,920 shares of the company's stock worth $68,000 after buying an additional 1,159 shares during the period. 16.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Central Garden & Pet news, insider John Walker, III sold 5,000 shares of the company's stock in a transaction that occurred on 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 owned 64,679 shares in the company, valued at approximately $2,490,141.50. This represents a 7.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.20% of the company's stock.

Central Garden & Pet Price Performance

Shares of Central Garden & Pet stock opened at $41.71 on Tuesday. Central Garden & Pet Company has a 1 year low of $28.77 and a 1 year high of $46.97. The company has a market cap of $2.61 billion, a P/E ratio of 15.56 and a beta of 0.62. The company has a current ratio of 3.79, a quick ratio of 2.67 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $43.59 and a 200 day moving average price of $40.43.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Central Garden & Pet from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, September 1st. Zacks Research lowered shares of Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus 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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