Millennium Management LLC Raises Stake in Central Garden & Pet (NASDAQ:CENT)

Millennium Management LLC raised its stake in Central Garden & Pet (NASDAQ:CENT - Free Report) by 14.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 186,167 shares of the company's stock after buying an additional 23,622 shares during the period. Millennium Management LLC owned about 0.28% of Central Garden & Pet worth $7,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in CENT. Vanguard Group Inc. raised its holdings in shares of Central Garden & Pet by 9.3% in the 4th quarter. Vanguard Group Inc. now owns 1,474,313 shares of the company's stock valued at $57,203,000 after purchasing an additional 125,418 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Central Garden & Pet by 23.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 138,273 shares of the company's stock valued at $5,365,000 after acquiring an additional 25,968 shares during the last quarter. JPMorgan Chase & Co. raised its position in Central Garden & Pet by 69.2% during the fourth quarter. JPMorgan Chase & Co. now owns 59,603 shares of the company's stock worth $2,313,000 after acquiring an additional 24,375 shares during the period. Dimensional Fund Advisors LP raised its position in Central Garden & Pet by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 796,917 shares of the company's stock worth $30,920,000 after acquiring an additional 22,703 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Central Garden & Pet by 12.7% in the fourth quarter. American Century Companies Inc. now owns 200,091 shares of the company's stock valued at $7,764,000 after buying an additional 22,556 shares during the last quarter. 16.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $32.39, for a total value of $1,943,400.00. Following the transaction, the chairman now directly owns 1,070,365 shares in the company, valued at $34,669,122.35. This trade represents a 5.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.19% of the stock is owned by corporate insiders.

Central Garden & Pet Stock Up 0.3%

Central Garden & Pet stock traded up $0.12 during trading on Friday, reaching $36.23. The stock had a trading volume of 19,242 shares, compared to its average volume of 174,906. Central Garden & Pet has a 52-week low of $31.97 and a 52-week high of $45.01. The business has a 50 day moving average price of $35.41 and a 200 day moving average price of $36.97. The company has a quick ratio of 1.97, a current ratio of 3.47 and a debt-to-equity ratio of 0.78. The stock has a market cap of $2.37 billion, a PE ratio of 19.90 and a beta of 0.73.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.10. Central Garden & Pet had a net margin of 3.77% and a return on equity of 10.08%. The company had revenue of $833.54 million for the quarter, compared to analysts' expectations of $876.36 million. During the same quarter last year, the company earned $0.99 earnings per share. The firm's revenue for the quarter was down 7.4% on a year-over-year basis. On average, analysts predict that Central Garden & Pet will post 2.38 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Truist Financial cut shares of Central Garden & Pet from a "buy" rating to a "hold" rating and set a $35.00 price objective for the company. in a research report on Wednesday, April 30th.

Central Garden & Pet Company 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.