Mangrove Partners IM LLC Decreases Stake in Central Garden & Pet Company $CENTA

Key Points

• Mangrove Partners cut its stake in Central Garden & Pet by 63.8% in Q3, selling 314,344 shares and leaving it with 178,712 shares (about 0.28% of the company) valued at roughly $5.28 million, its 28th largest holding.
• Central Garden & Pet reported Q results with EPS $0.21 (vs. $0.11 estimate) but missed revenue at $617.37M (vs. $636.62M); the company set FY2026 guidance at 2.700 EPS, has a $2.0B market cap and a consensus analyst rating of “Hold” with a $40.75 target.
• Company insiders have been selling stock (Director Brendan Dougher sold 3,250 shares and John Ranelli sold 3,668 shares), while insiders own about 20.28% of the shares and institutions hold 50.82%.

Mangrove Partners IM LLC cut its holdings in shares of Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 63.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 178,712 shares of the company's stock after selling 314,344 shares during the quarter. Central Garden & Pet comprises 0.4% of Mangrove Partners IM LLC's investment portfolio, making the stock its 28th biggest position. Mangrove Partners IM LLC owned about 0.28% of Central Garden & Pet worth $5,277,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Orchard Capital Management LLC lifted its stake in Central Garden & Pet by 3.3% in the 3rd quarter. Orchard Capital Management LLC now owns 11,029 shares of the company's stock worth $326,000 after purchasing an additional 350 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Central Garden & Pet by 40.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,401 shares of the company's stock worth $41,000 after purchasing an additional 400 shares during the last quarter. Amalgamated Bank grew its position in shares of Central Garden & Pet by 3.4% in the third quarter. Amalgamated Bank now owns 14,668 shares of the company's stock valued at $433,000 after purchasing an additional 488 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Central Garden & Pet by 164.0% in the third quarter. Federated Hermes Inc. now owns 858 shares of the company's stock valued at $25,000 after purchasing an additional 533 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Central Garden & Pet by 4.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,680 shares of the company's stock valued at $397,000 after purchasing an additional 589 shares during the last quarter. Hedge funds and other institutional investors own 50.82% of the company's stock.

Central Garden & Pet Stock Up 1.0%

Shares of NASDAQ:CENTA opened at $32.14 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.42 and a quick ratio of 1.97. The firm has a market capitalization of $2.00 billion, a PE ratio of 13.12 and a beta of 0.64. The firm's 50-day moving average is $31.85 and its two-hundred day moving average is $30.54. Central Garden & Pet Company has a 1 year low of $25.97 and a 1 year high of $37.35.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.10. Central Garden & Pet had a net margin of 5.04% and a return on equity of 10.99%. The business had revenue of $617.37 million for the quarter, compared to analysts' expectations of $636.62 million. Central Garden & Pet has set its FY 2026 guidance at 2.700- EPS. Analysts predict that Central Garden & Pet Company will post 2.38 EPS for the current year.

Insider Activity at Central Garden & Pet

In other Central Garden & Pet news, Director Brendan Dougher sold 3,250 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $33.38, for a total value of $108,485.00. Following the completion of the transaction, the director owned 12,845 shares of the company's stock, valued at $428,766.10. This trade represents a 20.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John Ranelli sold 3,668 shares of the company's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $34.50, for a total value of $126,546.00. Following the sale, the director directly owned 646 shares in the company, valued at $22,287. This represents a 85.03% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 20.28% of the company's stock.

Wall Street Analyst Weigh In

CENTA has been the topic of a number of analyst reports. Weiss Ratings upgraded Central Garden & Pet from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, February 3rd. Wall Street Zen downgraded Central Garden & Pet from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. KeyCorp reiterated an "overweight" rating on shares of Central Garden & Pet in a report on Wednesday, December 17th. CJS Securities raised shares of Central Garden & Pet to a "strong-buy" rating in a research report on Thursday, December 11th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and issued a $28.00 price objective (down from $31.00) on shares of Central Garden & Pet in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $40.75.

About Central Garden & Pet

Central Garden & Pet Co is a leading producer, marketer and distributor of branded consumable gardening products and pet supplies in North America. Headquartered in Walnut Creek, California, the company serves both retail and wholesale customers through a network of distribution centers across the United States and Canada. Operating under the ticker symbol CENTA on the NASDAQ exchange, Central Garden & Pet has been publicly traded since 2003.

The company's Garden segment offers a broad portfolio of lawn and garden care solutions, including fertilizers, weed and pest control products, soil and mulch, and plant care accessories.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.