CWA Asset Management Group LLC Invests $573,000 in Central Garden & Pet Company (NASDAQ:CENTA)

CWA Asset Management Group LLC acquired a new position in Central Garden & Pet Company (NASDAQ:CENTA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,506 shares of the company's stock, valued at approximately $573,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in shares of Central Garden & Pet by 668.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 930 shares of the company's stock worth $31,000 after purchasing an additional 809 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in Central Garden & Pet during the 4th quarter valued at about $102,000. Summit Investment Advisors Inc. raised its holdings in Central Garden & Pet by 6.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,458 shares of the company's stock worth $180,000 after buying an additional 325 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Central Garden & Pet by 12.6% in the fourth quarter. Bank of Montreal Can now owns 6,538 shares of the company's stock worth $216,000 after buying an additional 734 shares in the last quarter. Finally, Numerai GP LLC purchased a new stake in shares of Central Garden & Pet during the fourth quarter valued at approximately $237,000. Institutional investors own 50.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CENTA shares. Wall Street Zen upgraded shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. decreased their price target on Central Garden & Pet from $34.00 to $31.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Truist Financial reaffirmed a "hold" rating and set a $35.00 price objective (down from $40.00) on shares of Central Garden & Pet in a research report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

Insider Activity

In related news, Chairman William E. Brown sold 40,000 shares of Central Garden & Pet stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $32.42, for a total transaction of $1,296,800.00. Following the transaction, the chairman now directly owns 1,030,365 shares in the company, valued at approximately $33,404,433.30. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 107,800 shares of company stock valued at $3,490,112 in the last quarter. 20.28% of the stock is currently owned by insiders.

Central Garden & Pet Stock Performance

Central Garden & Pet stock traded up $0.23 during midday trading on Tuesday, reaching $31.39. 525,661 shares of the company traded hands, compared to its average volume of 322,912. Central Garden & Pet Company has a 12 month low of $27.70 and a 12 month high of $37.31. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.31 and a quick ratio of 1.93. The business has a 50 day moving average of $31.12 and a two-hundred day moving average of $31.81. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 16.79 and a beta of 0.67.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.10. The firm had revenue of $833.54 million for the quarter, compared to the consensus estimate of $876.36 million. Central Garden & Pet had a return on equity of 10.14% and a net margin of 3.90%. As a group, research analysts predict that Central Garden & Pet Company will post 2.38 earnings per share for the current year.

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.