Invesco Ltd. Trims Position in Central Garden & Pet Company $CENTA

Key Points

• Invesco Ltd. has reduced its stake in Central Garden & Pet Company by 3.0%, selling 11,725 shares, leaving it with 378,701 shares valued at approximately $12.4 million.
• Other institutional investors are actively trading shares of Central Garden & Pet, with Westwood Holdings Group Inc. increasing its stake by 21.1% to over 1.16 million shares.
• Central Garden & Pet's shares have recently seen an increase of 3.1%, with the stock trading around $33.20, while analysts maintain a consensus rating of "Hold".

Invesco Ltd. reduced its position in shares of Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 378,701 shares of the company's stock after selling 11,725 shares during the period. Invesco Ltd. owned about 0.58% of Central Garden & Pet worth $12,395,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its position in shares of Central Garden & Pet by 53.1% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company's stock valued at $49,000 after buying an additional 517 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Central Garden & Pet in the 1st quarter valued at $224,000. Numerai GP LLC purchased a new stake in Central Garden & Pet in the 4th quarter valued at $237,000. Teacher Retirement System of Texas purchased a new stake in Central Garden & Pet in the 1st quarter valued at $255,000. Finally, State of Wyoming raised its position in Central Garden & Pet by 66.6% in the 4th quarter. State of Wyoming now owns 8,914 shares of the company's stock valued at $295,000 after purchasing an additional 3,563 shares during the last quarter. 50.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, insider John D. Walker III sold 3,500 shares of the stock in a transaction 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 transaction, the insider owned 67,328 shares of the company's stock, valued at $2,194,219.52. This represents a 4.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John Ranelli sold 3,076 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $32.58, for a total value of $100,216.08. Following the transaction, the director directly owned 1,427 shares in the company, valued at approximately $46,491.66. This represents a 68.31% decrease in their position. The disclosure for this sale can be found here. Company insiders own 20.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Canaccord Genuity Group lifted their price objective on shares of Central Garden & Pet from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $38.67.

Central Garden & Pet Price Performance

Central Garden & Pet stock traded up $0.43 during mid-day trading on Friday, hitting $33.03. 525,120 shares of the company were exchanged, compared to its average volume of 415,951. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.56 and a quick ratio of 2.28. The business's 50 day simple moving average is $33.56 and its two-hundred day simple moving average is $32.22. The company has a market capitalization of $2.08 billion, a P/E ratio of 15.01 and a beta of 0.67. Central Garden & Pet Company has a 12-month low of $27.70 and a 12-month high of $37.35.

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 for the quarter, topping the consensus estimate of $1.34 by $0.22. The company had revenue of $960.91 million during the quarter, compared to the consensus estimate of $993.66 million. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%. Analysts forecast that Central Garden & Pet Company will post 2.38 earnings per share for the current fiscal 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.