Jump Financial LLC Acquires New Holdings in Central Garden & Pet Company $CENTA

Key Points

• Jump Financial LLC acquired a new stake in Central Garden & Pet Company during the first quarter, purchasing 53,000 shares valued at approximately $1,735,000. This investment brings their total ownership to around 0.08% of the company's stock.
• Wall Street analysts are optimistic about Central Garden & Pet, with Canaccord Genuity raising their target price from $45.00 to $50.00 and issuing a "buy" rating, while three analysts currently have a "hold" rating.
• In recent insider trading, John D. Walker III sold 3,500 shares of the company at an average price of $32.59, reducing his position by 4.94% despite still owning 20.28% of the company's shares.

Jump Financial LLC bought a new position in shares of Central Garden & Pet Company (NASDAQ:CENTA - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 53,000 shares of the company's stock, valued at approximately $1,735,000. Jump Financial LLC owned 0.08% of Central Garden & Pet as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CENTA. Martingale Asset Management L P grew its stake in Central Garden & Pet by 4.1% during the first quarter. Martingale Asset Management L P now owns 61,931 shares of the company's stock worth $2,027,000 after buying an additional 2,424 shares during the period. Hsbc Holdings PLC raised its position in Central Garden & Pet by 54.7% in the first quarter. Hsbc Holdings PLC now owns 13,742 shares of the company's stock valued at $447,000 after purchasing an additional 4,860 shares during the period. Algert Global LLC raised its position in Central Garden & Pet by 20.0% in the first quarter. Algert Global LLC now owns 124,040 shares of the company's stock valued at $4,060,000 after purchasing an additional 20,660 shares during the period. American Century Companies Inc. raised its position in Central Garden & Pet by 15.2% in 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 during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Central Garden & Pet by 17.7% in the first quarter. Russell Investments Group Ltd. now owns 29,577 shares of the company's stock worth $968,000 after buying an additional 4,446 shares during the period. Hedge funds and other institutional investors own 50.82% of the company's stock.

Central Garden & Pet Stock Up 1.3%

CENTA stock traded up $0.43 during midday trading on Monday, hitting $33.03. 525,120 shares of the company's stock were exchanged, compared to its average volume of 428,558. 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 12-month low of $27.70 and a 12-month high of $37.35. The firm has a 50 day moving average price of $33.56 and a 200-day moving average price of $32.20. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 15.01 and a beta of 0.66.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.34 by $0.22. The company had revenue of $960.91 million during the quarter, compared to analysts' expectations of $993.66 million. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%. On average, analysts anticipate that Central Garden & Pet Company will post 2.38 EPS for the current year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on CENTA. Canaccord Genuity Group raised their target price on Central Garden & Pet from $45.00 to $50.00 and gave the company a "buy" rating in a report 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 research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $38.67.

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.