Central Garden & Pet Company $CENTA Shares Purchased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Central Garden & Pet Company by 49.5%, owning 193,672 shares valued at approximately $6.34 million at the end of the previous quarter.
• Central Garden & Pet reported an EPS of $1.56 for the last quarter, exceeding the consensus estimate of $1.34, although its revenue fell short of expectations at $960.91 million.
• A number of analysts have given Central Garden & Pet a consensus rating of "Hold," with price targets varying from $35.00 to $50.00, indicating mixed confidence in the stock's near-term performance.

Public Sector Pension Investment Board boosted its stake in shares of Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 49.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 193,672 shares of the company's stock after purchasing an additional 64,113 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.30% of Central Garden & Pet worth $6,339,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CENTA. Nisa Investment Advisors LLC grew its position in shares of Central Garden & Pet by 53.1% during the first quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company's stock worth $49,000 after buying an additional 517 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in Central Garden & Pet by 6.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,458 shares of the company's stock worth $180,000 after acquiring an additional 325 shares during the last quarter. Bank of Montreal Can grew its holdings in Central Garden & Pet by 12.6% during the 4th quarter. Bank of Montreal Can now owns 6,538 shares of the company's stock worth $216,000 after acquiring an additional 734 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Central Garden & Pet during the 1st quarter worth approximately $224,000. Finally, Numerai GP LLC purchased a new stake in shares of Central Garden & Pet in the 4th quarter valued at approximately $237,000. Institutional investors and hedge funds own 50.82% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CENTA shares. Truist Financial reaffirmed a "hold" rating and set a $35.00 price objective (down from $40.00) on shares of Central Garden & Pet in a research report on Wednesday, April 30th. Wall Street Zen upgraded Central Garden & Pet from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Canaccord Genuity Group lifted their price target on Central Garden & Pet from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $38.67.

Central Garden & Pet Stock Performance

Shares of Central Garden & Pet stock traded up $0.16 on Thursday, hitting $31.98. The stock had a trading volume of 31,445 shares, compared to its average volume of 365,320. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 14.57 and a beta of 0.67. 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 52-week low of $27.70 and a 52-week high of $37.35. The company's 50 day moving average price is $33.26 and its 200 day moving average price is $32.21.

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

Insider Activity at Central Garden & Pet

In related news, Chairman William E. Brown sold 7,800 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $32.04, for a total value of $249,912.00. Following the completion of the sale, the chairman owned 377,383 shares in the company, valued at $12,091,351.32. This represents a 2.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 20.28% of the stock is owned by insiders.

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.