Rhumbline Advisers Sells 9,453 Shares of Central Garden & Pet (NASDAQ:CENTA)

Rhumbline Advisers reduced its stake in shares of Central Garden & Pet (NASDAQ:CENTA - Free Report) by 5.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NorthRock Partners LLC bought a new stake in Central Garden & Pet during the 4th quarter worth approximately $1,922,000. Ameriprise Financial Inc. grew its holdings in shares of Central Garden & Pet by 6.0% in the fourth quarter. Ameriprise Financial Inc. now owns 197,652 shares of the company's stock valued at $6,532,000 after acquiring an additional 11,242 shares in the last quarter. Denali Advisors LLC bought a new position in shares of Central Garden & Pet in the fourth quarter valued at approximately $1,573,000. Principal Financial Group Inc. grew its holdings in shares of Central Garden & Pet by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 268,331 shares of the company's stock valued at $8,868,000 after acquiring an additional 8,889 shares in the last quarter. Finally, Highbridge Capital Management LLC grew its holdings in shares of Central Garden & Pet by 89.8% in the fourth quarter. Highbridge Capital Management LLC now owns 685,847 shares of the company's stock valued at $22,667,000 after acquiring an additional 324,493 shares in the last quarter. 50.82% of the stock is owned by institutional investors.

Central Garden & Pet Price Performance

Shares of NASDAQ CENTA opened at $30.23 on Friday. The stock has a fifty day simple moving average of $31.24 and a two-hundred day simple moving average of $32.01. Central Garden & Pet has a 1-year low of $27.70 and a 1-year high of $37.31. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 16.61 and a beta of 0.67. The company has a current ratio of 3.47, a quick ratio of 1.97 and a debt-to-equity ratio of 0.78.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.10. The business had revenue of $833.54 million during the quarter, compared to analyst estimates of $876.36 million. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. Analysts anticipate that Central Garden & Pet will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In other Central Garden & Pet news, Chairman William E. Brown sold 7,800 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $32.04, for a total transaction of $249,912.00. Following the sale, the chairman now owns 377,383 shares in the company, valued at $12,091,351.32. This represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 107,800 shares of company stock worth $3,490,112 over the last 90 days. Corporate insiders own 20.28% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CENTA. 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 report on Wednesday, April 30th. Wall Street Zen raised Central Garden & Pet from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. reduced their price objective 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. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

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.

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