First Eagle Investment Management LLC Takes Position in Central Garden & Pet Company $CENTA

Key Points

• First Eagle Investment Management opened a new position in Central Garden & Pet, buying 174,438 shares worth about $5.1 million in the fourth quarter.
• Insider activity was mixed: Director John Ranelli sold 3,668 shares at $34.50, cutting his ownership by more than 85%, while insiders still hold about 20.28% of the stock.
• Central Garden & Pet reported strong quarterly results, posting EPS of $1.29 versus the $1.08 estimate and revenue of $906.15 million versus the $846.58 million consensus, while analysts currently rate the stock Moderate Buy with a $44.00 price target.

First Eagle Investment Management LLC acquired a new position in shares of Central Garden & Pet Company (NASDAQ:CENTA - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 174,438 shares of the company's stock, valued at approximately $5,092,000. First Eagle Investment Management LLC owned approximately 0.28% of Central Garden & Pet as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Central Garden & Pet by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 5,804,612 shares of the company's stock valued at $169,437,000 after buying an additional 20,819 shares in the last quarter. Victory Capital Management Inc. boosted its position in Central Garden & Pet by 5.5% during the 3rd quarter. Victory Capital Management Inc. now owns 2,217,545 shares of the company's stock worth $65,484,000 after acquiring an additional 115,706 shares during the period. State Street Corp grew its stake in Central Garden & Pet by 3.5% during the 2nd quarter. State Street Corp now owns 2,174,296 shares of the company's stock valued at $68,034,000 after acquiring an additional 73,755 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Central Garden & Pet by 2.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,924,354 shares of the company's stock valued at $55,729,000 after acquiring an additional 54,930 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Central Garden & Pet by 8.1% in the 3rd quarter. American Century Companies Inc. now owns 1,892,120 shares of the company's stock valued at $55,874,000 after purchasing an additional 142,319 shares during the period. 50.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Central Garden & Pet news, Director John Ranelli sold 3,668 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $34.50, for a total transaction of $126,546.00. Following the transaction, the director owned 646 shares in the company, valued at $22,287. This trade represents a 85.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 20.28% of the stock is currently owned by company insiders.

Central Garden & Pet Price Performance

NASDAQ CENTA opened at $34.36 on Thursday. Central Garden & Pet Company has a fifty-two week low of $25.97 and a fifty-two week high of $37.71. The stock's 50-day moving average is $33.08 and its two-hundred day moving average is $31.34. The firm has a market cap of $2.14 billion, a P/E ratio of 12.49 and a beta of 0.59. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.45 and a quick ratio of 2.16.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.21. The company had revenue of $906.15 million during the quarter, compared to the consensus estimate of $846.58 million. Central Garden & Pet had a return on equity of 11.55% and a net margin of 5.42%.Central Garden & Pet has set its FY 2026 guidance at 2.700- EPS. On average, analysts anticipate that Central Garden & Pet Company will post 2.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Weiss Ratings upgraded shares of Central Garden & Pet from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. cut their target price on shares of Central Garden & Pet from $33.00 to $32.00 and set an "underweight" rating for the company in a research report on Friday, April 17th. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a "buy" rating in a report on Friday, January 16th. Finally, Wall Street Zen raised shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $44.00.

Central Garden & Pet Company Profile

Central Garden & Pet Co is a leading producer, marketer and distributor of branded consumable gardening products and pet supplies in North America. Headquartered in Walnut Creek, California, the company serves both retail and wholesale customers through a network of distribution centers across the United States and Canada. Operating under the ticker symbol CENTA on the NASDAQ exchange, Central Garden & Pet has been publicly traded since 2003.

The company's Garden segment offers a broad portfolio of lawn and garden care solutions, including fertilizers, weed and pest control products, soil and mulch, and plant care accessories.

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