Rhumbline Advisers Decreases Stake in Central Garden & Pet Company (NASDAQ:CENTA)

Rhumbline Advisers lowered its position in Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 5.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 151,004 shares of the company's stock after selling 9,453 shares during the period. Rhumbline Advisers owned about 0.23% of Central Garden & Pet worth $4,942,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Summit Investment Advisors Inc. raised its position in Central Garden & Pet by 6.3% during 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 period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Central Garden & Pet by 3.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,048 shares of the company's stock worth $431,000 after purchasing an additional 398 shares in the last quarter. Sei Investments Co. raised its position in shares of Central Garden & Pet by 0.8% during the 4th quarter. Sei Investments Co. now owns 49,074 shares of the company's stock worth $1,622,000 after purchasing an additional 410 shares during the last quarter. Keybank National Association OH lifted its stake in Central Garden & Pet by 2.7% in the 4th quarter. Keybank National Association OH now owns 17,640 shares of the company's stock valued at $583,000 after buying an additional 468 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Central Garden & Pet by 0.7% in the 4th quarter. Swiss National Bank now owns 107,637 shares of the company's stock valued at $3,557,000 after buying an additional 700 shares in the last quarter. 50.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Central Garden & Pet

In other news, Chairman William E. Brown sold 40,000 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $32.42, for a total transaction of $1,296,800.00. Following the completion of the transaction, the chairman now directly owns 1,030,365 shares in the company, valued at $33,404,433.30. This trade represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 107,800 shares of company stock valued at $3,490,112 over the last 90 days. 20.28% of the stock is owned by insiders.

Central Garden & Pet Trading Down 0.9%

Shares of Central Garden & Pet stock traded down $0.26 during mid-day trading on Tuesday, hitting $30.18. The stock had a trading volume of 498,355 shares, compared to its average volume of 321,011. The firm has a market cap of $1.98 billion, a P/E ratio of 16.14 and a beta of 0.68. The company has a quick ratio of 1.93, a current ratio of 3.31 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average of $31.21 and a two-hundred day moving average of $31.94. Central Garden & Pet Company has a 12-month low of $27.70 and a 12-month high of $37.31.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.10. The company had revenue of $833.54 million during the quarter, compared to analysts' expectations of $876.36 million. Central Garden & Pet had a return on equity of 10.14% and a net margin of 3.90%. Sell-side analysts forecast that Central Garden & Pet Company will post 2.38 earnings per share for the current year.

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.