Exchange Traded Concepts LLC Makes New $1.05 Million Investment in Central Garden & Pet Company (NASDAQ:CENT)

Exchange Traded Concepts LLC acquired a new position in Central Garden & Pet Company (NASDAQ:CENT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 28,523 shares of the company's stock, valued at approximately $1,046,000.

A number of other institutional investors have also modified their holdings of CENT. Vanguard Group Inc. increased its position in shares of Central Garden & Pet by 9.3% during the fourth quarter. Vanguard Group Inc. now owns 1,474,313 shares of the company's stock worth $57,203,000 after acquiring an additional 125,418 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Central Garden & Pet by 23.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 138,273 shares of the company's stock worth $5,365,000 after acquiring an additional 25,968 shares during the period. JPMorgan Chase & Co. increased its holdings in Central Garden & Pet by 69.2% during the fourth quarter. JPMorgan Chase & Co. now owns 59,603 shares of the company's stock valued at $2,313,000 after buying an additional 24,375 shares during the period. Millennium Management LLC increased its holdings in Central Garden & Pet by 14.5% during the fourth quarter. Millennium Management LLC now owns 186,167 shares of the company's stock valued at $7,223,000 after buying an additional 23,622 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Central Garden & Pet by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 796,917 shares of the company's stock valued at $30,920,000 after buying an additional 22,703 shares during the period. 16.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Central Garden & Pet news, Chairman William E. Brown sold 7,800 shares of Central Garden & Pet 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 transaction, the chairman now directly owns 377,383 shares of the company's stock, valued at approximately $12,091,351.32. The trade was a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 107,800 shares of company stock valued at $3,490,112. 8.19% of the stock is currently owned by insiders.

Central Garden & Pet Stock Performance

Shares of CENT stock opened at $34.32 on Friday. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 18.35 and a beta of 0.72. The company's 50 day moving average is $35.31 and its 200 day moving average is $36.64. The company has a quick ratio of 1.93, a current ratio of 3.31 and a debt-to-equity ratio of 0.77. Central Garden & Pet Company has a 52-week low of $31.97 and a 52-week high of $43.88.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.10. Central Garden & Pet had a net margin of 3.90% and a return on equity of 10.14%. The company had revenue of $833.54 million for the quarter, compared to analyst estimates of $876.36 million. During the same period last year, the company posted $0.99 earnings per share. Central Garden & Pet's revenue was down 7.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Central Garden & Pet Company will post 2.38 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Truist Financial lowered shares of Central Garden & Pet from a "buy" rating to a "hold" rating and set a $35.00 price objective on the stock. in a report on Wednesday, April 30th.

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.

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