Central Garden & Pet Company $CENTA Shares Acquired by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Central Garden & Pet Company by 5.7% during Q1, bringing its total share ownership to approximately 1.34%, valued at $28.8 million.
• Other institutional investors, including Nisa Investment Advisors and Bank of Montreal, also bolstered their investments in Central Garden & Pet, contributing to a total institutional ownership of 50.82%.
• Central Garden & Pet reported an EPS of $1.56 for the last quarter, exceeding analysts' expectations, despite revenue falling short of estimates at $960.91 million.

Charles Schwab Investment Management Inc. boosted its position in shares of Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 5.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 879,769 shares of the company's stock after purchasing an additional 47,257 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.34% of Central Garden & Pet worth $28,795,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in Central Garden & Pet by 53.1% during the first quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company's stock worth $49,000 after purchasing an additional 517 shares during the period. Summit Investment Advisors Inc. raised its stake in shares of Central Garden & Pet by 6.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,458 shares of the company's stock valued at $180,000 after acquiring an additional 325 shares during the period. Bank of Montreal Can lifted its holdings in shares of Central Garden & Pet by 12.6% in the 4th quarter. Bank of Montreal Can now owns 6,538 shares of the company's stock worth $216,000 after acquiring an additional 734 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Central Garden & Pet in the 1st quarter worth approximately $224,000. Finally, Numerai GP LLC acquired a new position in shares of Central Garden & Pet in the 4th quarter worth approximately $237,000. 50.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman William E. Brown sold 7,800 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $32.04, for a total value of $249,912.00. Following the completion of the transaction, the chairman owned 377,383 shares in the company, valued at approximately $12,091,351.32. This represents a 2.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 20.28% of the company's stock.

Central Garden & Pet Stock Up 3.1%

CENTA traded up $0.99 during trading hours on Friday, hitting $33.20. 518,623 shares of the company's stock were exchanged, compared to its average volume of 394,015. Central Garden & Pet Company has a 12-month low of $27.70 and a 12-month high of $37.35. The firm has a 50 day moving average of $33.33 and a 200 day moving average of $32.23. The firm has a market cap of $2.09 billion, a P/E ratio of 15.09 and a beta of 0.67. The company has a current ratio of 3.56, a quick ratio of 2.28 and a debt-to-equity ratio of 0.75.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.22. Central Garden & Pet had a net margin of 4.44% and a return on equity of 10.77%. The firm had revenue of $960.91 million for the quarter, compared to the consensus estimate of $993.66 million. Analysts predict that Central Garden & Pet Company will post 2.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Truist Financial restated a "hold" rating and issued a $35.00 price objective (down from $40.00) on shares of Central Garden & Pet in a report on Wednesday, April 30th. Finally, Canaccord Genuity Group upped their price objective on shares of Central Garden & Pet from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $38.67.

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.