Cubist Systematic Strategies LLC Purchases New Shares in Central Garden & Pet Company $CENTA

Key Points

• Cubist Systematic Strategies LLC has purchased a new stake in Central Garden & Pet Company, acquiring 180,962 shares valued at approximately $5.92 million.
• Multiple other institutional investors have modified their holdings, with hedge funds owning 50.82% of the company's stock.
• Central Garden & Pet received a buy rating upgrade from Wall Street Zen, with an increased price target set from $45 to $50 by Canaccord Genuity Group.

Cubist Systematic Strategies LLC purchased a new stake in shares of Central Garden & Pet Company (NASDAQ:CENTA - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 180,962 shares of the company's stock, valued at approximately $5,923,000. Cubist Systematic Strategies LLC owned approximately 0.28% of Central Garden & Pet at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Central Garden & Pet by 3.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,048 shares of the company's stock worth $431,000 after acquiring an additional 398 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Central Garden & Pet by 53.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company's stock worth $49,000 after acquiring an additional 517 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Central Garden & Pet by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,678 shares of the company's stock worth $981,000 after acquiring an additional 1,024 shares during the period. GHP Investment Advisors Inc. lifted its holdings in shares of Central Garden & Pet by 1.7% in the 1st quarter. GHP Investment Advisors Inc. now owns 92,347 shares of the company's stock valued at $3,023,000 after buying an additional 1,527 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Central Garden & Pet by 3.4% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 65,387 shares of the company's stock valued at $2,140,000 after buying an additional 2,139 shares during the period. 50.82% of the stock is owned by institutional investors.

Insider Activity

In other Central Garden & Pet news, Director John Ranelli sold 3,076 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John D. Walker III sold 3,500 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $32.59, for a total transaction of $114,065.00. Following the completion of the transaction, the insider directly owned 67,328 shares of the company's stock, valued at approximately $2,194,219.52. This represents a 4.94% decrease in their position. The disclosure for this sale can be found here. Insiders own 20.28% of the company's stock.

Wall Street Analysts Forecast Growth

CENTA has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price target on Central Garden & Pet from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Wall Street Zen upgraded Central Garden & Pet from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $38.67.

Central Garden & Pet Stock Performance

Shares of NASDAQ:CENTA traded down $0.21 on Tuesday, reaching $33.76. 67,881 shares of the company's stock were exchanged, compared to its average volume of 366,002. The company has a fifty day moving average of $33.86 and a 200-day moving average of $32.25. Central Garden & Pet Company has a twelve month low of $27.70 and a twelve month high of $37.35. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 15.34 and a beta of 0.66. 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 released its quarterly earnings results on Wednesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $993.66 million. On average, research analysts predict that Central Garden & Pet Company will post 2.38 EPS for the current fiscal year.

Central Garden & Pet 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.