Olstein Capital Management L.P. Reduces Stock Position in Central Garden & Pet (NASDAQ:CENTA)

Olstein Capital Management L.P. trimmed its holdings in Central Garden & Pet (NASDAQ:CENTA - Free Report) by 22.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,000 shares of the company's stock after selling 17,000 shares during the period. Olstein Capital Management L.P. owned about 0.09% of Central Garden & Pet worth $1,964,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Central Garden & Pet by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 5,979,003 shares of the company's stock worth $197,606,000 after purchasing an additional 306,449 shares during the last quarter. American Century Companies Inc. lifted its holdings in Central Garden & Pet by 14.1% during the 4th quarter. American Century Companies Inc. now owns 1,373,100 shares of the company's stock worth $45,381,000 after buying an additional 170,121 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in Central Garden & Pet by 1.5% during the 4th quarter. Westwood Holdings Group Inc. now owns 961,615 shares of the company's stock worth $31,781,000 after buying an additional 14,144 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Central Garden & Pet by 7.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 832,512 shares of the company's stock worth $27,515,000 after acquiring an additional 59,489 shares in the last quarter. Finally, William Blair Investment Management LLC increased its holdings in shares of Central Garden & Pet by 2.2% in the 4th quarter. William Blair Investment Management LLC now owns 805,564 shares of the company's stock valued at $26,624,000 after acquiring an additional 17,530 shares during the last quarter. 50.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Central Garden & Pet from $34.00 to $31.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Truist Financial reissued a "hold" rating and set a $35.00 target price (down from $40.00) on shares of Central Garden & Pet in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $33.00.

Central Garden & Pet Stock Up 1.6%

Shares of Central Garden & Pet stock opened at $31.53 on Monday. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 17.32 and a beta of 0.68. Central Garden & Pet has a twelve month low of $27.70 and a twelve month high of $37.31. The company has a current ratio of 3.47, a quick ratio of 1.97 and a debt-to-equity ratio of 0.78. The business's 50 day simple moving average is $31.25 and its 200-day simple moving average is $32.06.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.10. The firm had revenue of $833.54 million during the quarter, compared to the consensus estimate of $876.36 million. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. Equities research analysts forecast that Central Garden & Pet will post 2.38 earnings per share for the current year.

Insider Transactions at Central Garden & Pet

In other news, Chairman William E. Brown sold 7,800 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $32.04, for a total transaction of $249,912.00. Following the completion of the transaction, the chairman now directly owns 377,383 shares in the company, valued at approximately $12,091,351.32. The trade was a 2.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 107,800 shares of company stock worth $3,490,112. 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.

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