Jacobs Levy Equity Management Inc. Buys 24,817 Shares of Central Garden & Pet Company $CENTA

Key Points

• Jacobs Levy Equity Management Inc. increased its holdings in Central Garden & Pet by 17.4% in Q1, acquiring an additional 24,817 shares valued at $5.48 million.
• Insider activity includes John D. Walker III selling 3,500 shares at approximately $32.59 each, resulting in a 4.94% decrease in his position.
• Equities research analysts have generally rated Central Garden & Pet as a "Hold," with a recent price target increase to $50.00 from Canaccord Genuity Group.

Jacobs Levy Equity Management Inc. boosted its holdings in Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 17.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 167,561 shares of the company's stock after buying an additional 24,817 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.26% of Central Garden & Pet worth $5,484,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of 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 acquiring an additional 398 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of 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 acquiring an additional 517 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Central Garden & Pet by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,678 shares of the company's stock worth $981,000 after acquiring an additional 1,024 shares in the last quarter. GHP Investment Advisors Inc. increased its position in shares of Central Garden & Pet by 1.7% during the first quarter. GHP Investment Advisors Inc. now owns 92,347 shares of the company's stock worth $3,023,000 after acquiring an additional 1,527 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its position in Central Garden & Pet by 3.4% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 65,387 shares of the company's stock valued at $2,140,000 after purchasing an additional 2,139 shares in the last quarter. 50.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Central Garden & Pet news, Director John Ranelli sold 3,076 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $32.58, for a total transaction of $100,216.08. Following the completion of the sale, the director owned 1,427 shares in the company, valued at approximately $46,491.66. The trade was a 68.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John D. Walker III sold 3,500 shares of the business's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $32.59, for a total transaction of $114,065.00. Following the sale, the insider owned 67,328 shares of the company's stock, valued at $2,194,219.52. This trade represents a 4.94% decrease in their position. The disclosure for this sale can be found here. 20.28% of the stock is currently owned by insiders.

Central Garden & Pet Price Performance

CENTA stock traded down $0.89 during mid-day trading on Friday, hitting $32.35. The stock had a trading volume of 205,676 shares, compared to its average volume of 365,653. The company has a current ratio of 3.56, a quick ratio of 2.28 and a debt-to-equity ratio of 0.75. Central Garden & Pet Company has a 52 week low of $27.70 and a 52 week high of $37.35. The firm has a market capitalization of $2.03 billion, a P/E ratio of 14.70 and a beta of 0.66. The firm has a fifty day simple moving average of $33.93 and a 200 day simple moving average of $32.27.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.22. The company had revenue of $960.91 million for the quarter, compared to analyst estimates of $993.66 million. Central Garden & Pet had a net margin of 4.44% and a return on equity of 10.77%. As a group, research analysts forecast that Central Garden & Pet Company will post 2.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CENTA. Canaccord Genuity Group increased their price target on shares of Central Garden & Pet from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Central Garden & Pet has a consensus rating of "Hold" and a consensus target price of $38.67.

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.