Rhumbline Advisers Has $4.94 Million Stake in Central Garden & Pet Company $CENTA

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its holdings in Central Garden & Pet by 53.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company's stock valued at $49,000 after purchasing an additional 517 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Central Garden & Pet during the 1st quarter valued at $224,000. Magnetar Financial LLC bought a new position in Central Garden & Pet in the 1st quarter valued at $236,000. Teacher Retirement System of Texas bought a new position in Central Garden & Pet in the 1st quarter valued at $255,000. Finally, State of Wyoming boosted its position in 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 buying an additional 3,563 shares during the last quarter. 50.82% of the stock is owned by institutional investors and hedge funds.

Central Garden & Pet Stock Down 2.7%

NASDAQ:CENTA opened at $32.35 on Friday. Central Garden & Pet Company has a 12-month low of $27.70 and a 12-month high of $37.35. The company has a quick ratio of 2.28, a current ratio of 3.56 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $2.03 billion, a P/E ratio of 14.70 and a beta of 0.66. The stock's fifty day simple moving average is $33.93 and its 200-day simple moving average is $32.28.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.56 earnings per share (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 business had revenue of $960.91 million for the quarter, compared to analyst estimates of $993.66 million. Equities research analysts expect that Central Garden & Pet Company will post 2.38 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on CENTA shares. Wall Street Zen upgraded Central Garden & Pet from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Canaccord Genuity Group increased their price objective on Central Garden & Pet from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Central Garden & Pet currently has a consensus rating of "Hold" and a consensus target price of $38.67.

Insider Buying and Selling at Central Garden & Pet

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

About Central Garden & Pet

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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