Cubist Systematic Strategies LLC Makes New $2.93 Million Investment in Central Garden & Pet Company $CENT

Key Points

• Cubist Systematic Strategies LLC has acquired a new stake of 80,020 shares in Central Garden & Pet Company, valued at approximately $2.93 million, representing 0.12% of the company's total shares.
• Central Garden & Pet reported a Q2 EPS of $1.56, exceeding expectations, although its revenue declined by 3.6% year-over-year to $960.91 million.
• Recent insider trading includes two directors selling a combined total of over 6,500 shares at prices around $32.58, indicating a decrease in their ownership stakes.

Cubist Systematic Strategies LLC purchased a new stake in shares of Central Garden & Pet Company (NASDAQ:CENT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 80,020 shares of the company's stock, valued at approximately $2,934,000. Cubist Systematic Strategies LLC owned approximately 0.12% of Central Garden & Pet at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. American Century Companies Inc. increased its position in Central Garden & Pet by 18.3% in the 1st quarter. American Century Companies Inc. now owns 236,681 shares of the company's stock worth $8,677,000 after purchasing an additional 36,590 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Central Garden & Pet during the 1st quarter valued at about $1,046,000. Nuveen LLC acquired a new stake in shares of Central Garden & Pet during the 1st quarter valued at about $1,034,000. Millennium Management LLC lifted its stake in shares of Central Garden & Pet by 14.5% in the 4th quarter. Millennium Management LLC now owns 186,167 shares of the company's stock valued at $7,223,000 after purchasing an additional 23,622 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Central Garden & Pet in the 1st quarter valued at $579,000. Hedge funds and other institutional investors own 16.13% of the company's stock.

Central Garden & Pet Stock Down 0.5%

Shares of NASDAQ CENT traded down $0.18 during mid-day trading on Monday, reaching $37.45. 70,069 shares of the company traded hands, compared to its average volume of 62,990. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.28 and a current ratio of 3.56. The stock has a market cap of $2.35 billion, a PE ratio of 17.02 and a beta of 0.69. The company's fifty day moving average is $37.53 and its two-hundred day moving average is $36.19. Central Garden & Pet Company has a fifty-two week low of $31.97 and a fifty-two week high of $43.88.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.22. The business had revenue of $960.91 million for the quarter, compared to analyst estimates of $993.66 million. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%.The firm's revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 EPS. On average, analysts expect that Central Garden & Pet Company will post 2.38 earnings per share for the current year.

Insider Transactions at Central Garden & Pet

In other Central Garden & Pet news, insider John D. Walker III sold 3,500 shares of Central Garden & Pet stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $32.59, for a total value of $114,065.00. Following the transaction, the insider directly owned 67,328 shares of the company's stock, valued at $2,194,219.52. The trade was a 4.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Ranelli sold 3,076 shares of Central Garden & Pet stock in a transaction that occurred 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 completion of the transaction, the director directly owned 1,427 shares in the company, valued at approximately $46,491.66. This represents a 68.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.19% of the company's stock.

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.