GW&K Investment Management LLC Sells 39,840 Shares of Central Garden & Pet Company (NASDAQ:CENTA)

GW&K Investment Management LLC cut its position in shares of Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 3.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,144,768 shares of the company's stock after selling 39,840 shares during the quarter. GW&K Investment Management LLC owned 1.75% of Central Garden & Pet worth $37,468,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Summit Investment Advisors Inc. lifted its stake in Central Garden & Pet by 6.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,458 shares of the company's stock worth $180,000 after purchasing an additional 325 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Central Garden & Pet by 3.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,048 shares of the company's stock worth $431,000 after purchasing an additional 398 shares during the period. Sei Investments Co. lifted its stake in Central Garden & Pet by 0.8% during the fourth quarter. Sei Investments Co. now owns 49,074 shares of the company's stock worth $1,622,000 after purchasing an additional 410 shares during the period. Nisa Investment Advisors LLC lifted its stake in Central Garden & Pet by 53.1% during the first quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company's stock worth $49,000 after purchasing an additional 517 shares during the period. Finally, Swiss National Bank lifted its stake in Central Garden & Pet by 0.7% during the fourth quarter. Swiss National Bank now owns 107,637 shares of the company's stock worth $3,557,000 after purchasing an additional 700 shares during the period. 50.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman William E. Brown sold 60,000 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $32.39, for a total value of $1,943,400.00. Following the completion of the transaction, the chairman owned 1,070,365 shares of the company's stock, valued at $34,669,122.35. The trade was a 5.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 107,800 shares of company stock valued at $3,490,112. 20.28% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on CENTA. Truist Financial restated a "hold" rating and issued a $35.00 price objective (down previously from $40.00) on shares of Central Garden & Pet in a research report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price objective on shares of Central Garden & Pet from $34.00 to $31.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Wall Street Zen upgraded shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th.

Central Garden & Pet Trading Down 0.6%

CENTA traded down $0.24 during trading on Friday, reaching $36.40. 47,992 shares of the company's stock were exchanged, compared to its average volume of 360,574. The company's fifty day moving average price is $32.50 and its 200-day moving average price is $31.83. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.93 and a current ratio of 3.31. Central Garden & Pet Company has a fifty-two week low of $27.70 and a fifty-two week high of $37.35. The firm has a market capitalization of $2.38 billion, a PE ratio of 19.45 and a beta of 0.66.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.04 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $833.54 million during the quarter, compared to analyst estimates of $876.36 million. As a group, equities analysts forecast that Central Garden & Pet Company will post 2.38 EPS for the current 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.