GAMMA Investing LLC Boosts Stock Holdings in Central Garden & Pet Company (NASDAQ:CENTA)

GAMMA Investing LLC grew its position in shares of Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 3,083.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,599 shares of the company's stock after purchasing an additional 31,575 shares during the period. GAMMA Investing LLC's holdings in Central Garden & Pet were worth $996,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Highbridge Capital Management LLC raised its stake in Central Garden & Pet by 89.8% during the fourth quarter. Highbridge Capital Management LLC now owns 685,847 shares of the company's stock valued at $22,667,000 after purchasing an additional 324,493 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Central Garden & Pet by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 5,979,003 shares of the company's stock valued at $197,606,000 after acquiring an additional 306,449 shares during the last quarter. Norges Bank purchased a new position in Central Garden & Pet in the fourth quarter worth about $8,245,000. American Century Companies Inc. grew its position in Central Garden & Pet by 14.1% in the fourth quarter. American Century Companies Inc. now owns 1,373,100 shares of the company's stock worth $45,381,000 after acquiring an additional 170,121 shares in the last quarter. Finally, Credit Industriel ET Commercial bought a new stake in Central Garden & Pet during the fourth quarter worth approximately $4,818,000. 50.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Central Garden & Pet

In other news, Chairman William E. Brown sold 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $32.42, for a total transaction of $1,296,800.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 107,800 shares of company stock valued at $3,490,112 over the last ninety days. Corporate insiders own 20.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen raised shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Truist Financial reaffirmed a "hold" rating and set a $35.00 price target (down from $40.00) on shares of Central Garden & Pet in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Central Garden & Pet from $34.00 to $31.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.00.

Central Garden & Pet Stock Up 0.6%

Shares of Central Garden & Pet stock traded up $0.18 during trading on Friday, reaching $30.52. The company's stock had a trading volume of 242,035 shares, compared to its average volume of 321,342. Central Garden & Pet Company has a 1-year low of $27.70 and a 1-year high of $37.31. The company has a quick ratio of 1.93, a current ratio of 3.31 and a debt-to-equity ratio of 0.77. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 16.32 and a beta of 0.68. The company has a 50-day simple moving average of $31.17 and a two-hundred day simple moving average of $31.90.

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