Champlain Investment Partners LLC Trims Stock Holdings in Central Garden & Pet Company $CENTA

Key Points

• Champlain Investment Partners LLC has reduced its holdings in Central Garden & Pet Company (NASDAQ:CENTA) by 1.4% during Q1, now owning approximately 2.29% of the company.
• Multiple large investors, including First Trust Advisors LP and Northern Trust Corp, have recently adjusted their stakes, highlighting ongoing institutional interest in the company.
• Wall Street analysts maintain a consensus rating of "Hold" with a target price of $38.67, while recent earnings reports showed the company exceeded EPS expectations despite lower revenue than projected.

Champlain Investment Partners LLC lessened its stake in Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 1.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,502,841 shares of the company's stock after selling 22,028 shares during the quarter. Champlain Investment Partners LLC owned approximately 2.29% of Central Garden & Pet worth $49,188,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Walleye Capital LLC bought a new position in shares of Central Garden & Pet in the first quarter valued at approximately $1,386,000. Jump Financial LLC bought a new position in shares of Central Garden & Pet in the first quarter valued at approximately $1,735,000. Martingale Asset Management L P lifted its holdings in shares of Central Garden & Pet by 4.1% in the first quarter. Martingale Asset Management L P now owns 61,931 shares of the company's stock valued at $2,027,000 after purchasing an additional 2,424 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Central Garden & Pet by 54.7% in the first quarter. Hsbc Holdings PLC now owns 13,742 shares of the company's stock valued at $447,000 after purchasing an additional 4,860 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Central Garden & Pet by 20.0% in the first quarter. Algert Global LLC now owns 124,040 shares of the company's stock valued at $4,060,000 after purchasing an additional 20,660 shares in the last quarter. Institutional investors own 50.82% of the company's stock.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, Director John Ranelli sold 3,076 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $32.58, for a total value of $100,216.08. Following the sale, the director directly owned 1,427 shares in the company, valued at $46,491.66. The trade was a 68.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John D. Walker III sold 3,500 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $32.59, for a total value of $114,065.00. Following the completion of the sale, the insider owned 67,328 shares in the company, valued at approximately $2,194,219.52. The trade was a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 20.28% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Canaccord Genuity Group raised their target price on Central Garden & Pet from $45.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Wall Street Zen raised Central Garden & Pet from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $38.67.

Central Garden & Pet Stock Performance

Shares of NASDAQ:CENTA traded up $0.43 during mid-day trading on Monday, reaching $33.03. The company had a trading volume of 525,120 shares, compared to its average volume of 428,558. The company has a current ratio of 3.56, a quick ratio of 2.28 and a debt-to-equity ratio of 0.75. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 15.01 and a beta of 0.66. The company's 50-day moving average price is $33.56 and its 200-day moving average price is $32.20. Central Garden & Pet Company has a one year low of $27.70 and a one year high of $37.35.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.22. The company had revenue of $960.91 million for the quarter, compared to analysts' expectations of $993.66 million. Central Garden & Pet had a net margin of 4.44% and a return on equity of 10.77%. As a group, equities research analysts anticipate that Central Garden & Pet Company will post 2.38 EPS for the current fiscal 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.