Central Garden & Pet Company $CENTA Shares Bought by Jacobs Levy Equity Management Inc.

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of CENTA. The Manufacturers Life Insurance Company lifted its holdings in shares of Central Garden & Pet by 108.0% during the first quarter. The Manufacturers Life Insurance Company now owns 756,270 shares of the company's stock valued at $24,753,000 after purchasing an additional 392,672 shares in the last quarter. Armistice Capital LLC lifted its holdings in shares of Central Garden & Pet by 28.8% during the first quarter. Armistice Capital LLC now owns 1,025,085 shares of the company's stock valued at $33,551,000 after purchasing an additional 229,324 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Central Garden & Pet by 15.2% during the first quarter. American Century Companies Inc. now owns 1,581,900 shares of the company's stock valued at $51,776,000 after purchasing an additional 208,800 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Central Garden & Pet by 21.1% during the first quarter. Westwood Holdings Group Inc. now owns 1,164,376 shares of the company's stock valued at $38,110,000 after purchasing an additional 202,761 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Central Garden & Pet during the first quarter valued at $5,923,000. 50.82% of the stock is owned by institutional investors.

Central Garden & Pet Trading Down 2.7%

Shares of NASDAQ:CENTA traded down $0.89 during trading on Friday, hitting $32.35. The company had a trading volume of 205,676 shares, compared to its average volume of 322,472. 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 company has a fifty day simple moving average of $33.93 and a two-hundred day simple moving average of $32.30. Central Garden & Pet Company has a one year low of $27.70 and a one year high of $37.35. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 14.70 and a beta of 0.66.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last issued 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 firm had revenue of $960.91 million for 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%. As a group, equities analysts forecast that Central Garden & Pet Company will post 2.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CENTA. Wall Street Zen upgraded Central Garden & Pet from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Canaccord Genuity Group upped their price objective on 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 research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $38.67.

Insiders Place Their Bets

In other news, Director John Ranelli sold 3,076 shares of the firm's 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 completion of the sale, the director owned 1,427 shares of the company's stock, valued at $46,491.66. This trade represents a 68.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John D. Walker III sold 3,500 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $32.59, for a total value of $114,065.00. Following the completion of the sale, the insider directly owned 67,328 shares of the company's stock, valued at $2,194,219.52. The trade was a 4.94% decrease in their position. The disclosure for this sale can be found here. Company insiders own 20.28% of the company's stock.

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.