Central Garden & Pet Company $CENTA Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers reduced its stake in Central Garden & Pet Company by 5.9%, now holding approximately 151,004 shares valued at $4.94 million.
• Central Garden & Pet's stock recently experienced a 2.7% decline, with a current trading price of $32.35 and a 12-month range between $27.70 and $37.35.
• Recent upgrades from analysts include a shift from a "hold" to a "buy" rating, with Canaccord Genuity increasing the price target for the stock from $45.00 to $50.00.

Rhumbline Advisers lowered its stake in shares of Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 5.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,004 shares of the company's stock after selling 9,453 shares during the quarter. Rhumbline Advisers owned approximately 0.23% of Central Garden & Pet worth $4,942,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its holdings in shares of Central Garden & Pet by 53.1% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company's stock valued at $49,000 after acquiring an additional 517 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Central Garden & Pet in the 1st quarter valued at $224,000. Magnetar Financial LLC acquired a new position in shares of Central Garden & Pet in the 1st quarter valued at $236,000. Teacher Retirement System of Texas acquired a new position in shares of Central Garden & Pet in the 1st quarter valued at $255,000. Finally, State of Wyoming increased its holdings in shares of Central Garden & Pet by 66.6% in the 4th quarter. State of Wyoming now owns 8,914 shares of the company's stock valued at $295,000 after acquiring an additional 3,563 shares during the period. Institutional investors and hedge funds own 50.82% of the company's stock.

Central Garden & Pet Stock Up 1.3%

NASDAQ CENTA traded up $0.42 on Thursday, reaching $32.55. The company had a trading volume of 327,245 shares, compared to its average volume of 326,556. The firm has a market capitalization of $2.05 billion, a PE ratio of 14.80 and a beta of 0.66. Central Garden & Pet Company has a 1 year low of $27.70 and a 1 year high of $37.35. The firm has a 50-day moving average of $33.95 and a 200-day moving average of $32.31. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.56 and a quick ratio of 2.28.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on CENTA shares. Canaccord Genuity Group lifted their target price on shares of Central Garden & Pet from $45.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Zacks Research cut shares of Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. Finally, Wall Street Zen raised shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Central Garden & Pet has an average rating of "Hold" and an average price target of $38.67.

Insider Activity at Central Garden & Pet

In related news, insider John D. Walker III sold 3,500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $32.59, for a total transaction of $114,065.00. Following the sale, the insider directly owned 67,328 shares of the company's stock, valued at approximately $2,194,219.52. This represents a 4.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Ranelli sold 3,076 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $32.58, for a total value of $100,216.08. Following the sale, the director directly owned 1,427 shares in the company, valued at approximately $46,491.66. This represents a 68.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 20.28% of the company's stock.

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.