Public Employees Retirement System of Ohio Acquires New Shares in Central Garden & Pet Company $CENT

Key Points

• Public Employees Retirement System of Ohio acquired 41,593 shares of Central Garden & Pet, valued at approximately $1.61 million, giving it a 0.07% stake. Institutional investors collectively own 16.13% of the company.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $54.00. Ratings include one Strong Buy, two Buys, and one Hold.
• Central Garden & Pet slightly exceeded quarterly EPS expectations at $1.54 versus $1.53, while revenue declined 8.2% year over year to $883.72 million. The stock recently opened at $41.71 and has a 52-week range of $28.77 to $46.97.

Public Employees Retirement System of Ohio bought a new stake in Central Garden & Pet Company (NASDAQ:CENT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 41,593 shares of the company's stock, valued at approximately $1,613,000. Public Employees Retirement System of Ohio owned about 0.07% of Central Garden & Pet as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Royce & Associates LP boosted its stake in shares of Central Garden & Pet by 28.0% in the 4th quarter. Royce & Associates LP now owns 63,363 shares of the company's stock valued at $2,037,000 after purchasing an additional 13,851 shares in the last quarter. Stenger Family Office LLC acquired a new position in Central Garden & Pet during the 1st quarter worth approximately $877,000. Quantinno Capital Management LP increased its position in Central Garden & Pet by 45.0% during the 1st quarter. Quantinno Capital Management LP now owns 37,080 shares of the company's stock worth $1,363,000 after purchasing an additional 11,508 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Central Garden & Pet by 59.5% in the 1st quarter. Renaissance Technologies LLC now owns 181,787 shares of the company's stock valued at $6,684,000 after purchasing an additional 67,800 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Central Garden & Pet in the 2nd quarter valued at approximately $2,156,000. Institutional investors and hedge funds own 16.13% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Weiss Ratings raised shares of Central Garden & Pet from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, September 1st. Zacks Research cut Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $54.00.

Central Garden & Pet Stock Performance

NASDAQ:CENT opened at $41.71 on Tuesday. The stock's 50-day moving average is $43.59 and its 200-day moving average is $40.43. Central Garden & Pet Company has a 1-year low of $28.77 and a 1-year high of $46.97. The company has a current ratio of 3.79, a quick ratio of 2.67 and a debt-to-equity ratio of 0.68. The stock has a market cap of $2.61 billion, a P/E ratio of 15.56 and a beta of 0.62.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.01. Central Garden & Pet had a net margin of 5.39% and a return on equity of 11.13%. The business had revenue of $883.72 million during the quarter, compared to analyst estimates of $882.96 million. During the same quarter last year, the business earned $1.56 EPS. The firm's quarterly revenue was down 8.2% on a year-over-year basis. Central Garden & Pet has set its FY 2026 guidance at 2.850- EPS. Equities research analysts anticipate that Central Garden & Pet Company will post 2.98 earnings per share for the current year.

Insider Activity

In other news, insider John Walker, III sold 5,000 shares of Central Garden & Pet stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $38.50, for a total transaction of $192,500.00. Following the transaction, the insider owned 64,679 shares in the company, valued at approximately $2,490,141.50. The trade was a 7.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.20% of the company's stock.

About Central Garden & Pet

Central Garden & Pet NASDAQ: CENT is a leading North American specialty retailer, manufacturer and distributor serving the lawn and garden and pet supplies markets. The company operates through two primary segments: Pet and Garden. In the Pet segment, Central Garden & Pet offers a comprehensive range of products including pet food, treats, accessories, training products and habitat solutions for dogs, cats, birds, fish and small animals. The Garden segment encompasses a wide array of lawn, garden and outdoor living products, such as soils, fertilizers, planters, pest control solutions, landscape lighting and watering equipment.

Central Garden & Pet's product portfolio includes both proprietary and branded offerings.

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