Cubist Systematic Strategies LLC Invests $2.93 Million 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 acquired a new position in shares of Central Garden & Pet Company (NASDAQ:CENT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 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 large investors have also modified their holdings of the company. Hotchkis & Wiley Capital Management LLC lifted its position in Central Garden & Pet by 2.6% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 194,590 shares of the company's stock worth $7,134,000 after purchasing an additional 4,840 shares during the period. AlphaQuest LLC raised its stake in shares of Central Garden & Pet by 306.0% in the 1st quarter. AlphaQuest LLC now owns 17,019 shares of the company's stock valued at $624,000 after buying an additional 12,827 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Central Garden & Pet by 27.0% during the 1st quarter. Hsbc Holdings PLC now owns 9,420 shares of the company's stock worth $344,000 after acquiring an additional 2,000 shares during the period. Versor Investments LP acquired a new stake in shares of Central Garden & Pet during the 1st quarter valued at about $579,000. Finally, American Century Companies Inc. increased its stake in Central Garden & Pet by 18.3% in the first quarter. American Century Companies Inc. now owns 236,681 shares of the company's stock valued at $8,677,000 after acquiring an additional 36,590 shares during the period. 16.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Central Garden & Pet news, Director John Ranelli sold 3,076 shares of the company'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. This represents a 68.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John D. Walker III sold 3,500 shares of Central Garden & Pet 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 transaction, the insider directly owned 67,328 shares of the company's stock, 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. Corporate insiders own 8.19% of the company's stock.

Central Garden & Pet Price Performance

NASDAQ:CENT traded up $0.43 during mid-day trading on Thursday, hitting $36.65. The company's stock had a trading volume of 60,940 shares, compared to its average volume of 60,391. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 16.66 and a beta of 0.69. 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 Company has a fifty-two week low of $31.97 and a fifty-two week high of $43.88. The stock has a fifty day moving average of $37.56 and a 200-day moving average of $36.20.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.22. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%.The company had revenue of $960.91 million for the quarter, compared to analyst estimates of $993.66 million. During the same period in the prior year, the company posted $1.19 EPS. The company's revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts forecast 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.