State Street Corp Acquires 122,327 Shares of Central Garden & Pet Company $CENTA

Key Points

• State Street increased its Central Garden & Pet stake by 5.9%, purchasing 122,327 shares to own 2.21 million shares, or approximately 3.53% of the company. Institutional and hedge-fund investors collectively own 50.82% of CENTA.
• Central Garden & Pet reported quarterly EPS of $1.54, exceeding estimates of $1.51, while revenue totaled $882.36 million. Analysts expect full-year EPS of approximately $2.98.
• Analyst opinions remain mixed but lean positive, with a consensus “Moderate Buy” rating and a $46.67 price target; meanwhile, insider John Walker III sold 5,000 shares at an average price of $38.50.

State Street Corp increased its stake in shares of Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 5.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,207,738 shares of the company's stock after purchasing an additional 122,327 shares during the quarter. State Street Corp owned approximately 3.53% of Central Garden & Pet worth $85,594,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CENTA. Engineers Gate Manager LP increased its stake in Central Garden & Pet by 3.6% in the 2nd quarter. Engineers Gate Manager LP now owns 20,600 shares of the company's stock valued at $799,000 after buying an additional 717 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Central Garden & Pet during the 2nd quarter valued at $44,000. Corient Private Wealth LP purchased a new position in shares of Central Garden & Pet during the 2nd quarter valued at $332,000. Odyssean LLC purchased a new position in shares of Central Garden & Pet during the 2nd quarter valued at $290,000. Finally, Headlands Technologies LLC acquired a new position in shares of Central Garden & Pet in the second quarter worth $586,000. 50.82% of the stock is owned by hedge funds and other institutional investors.

Central Garden & Pet Stock Performance

Shares of CENTA opened at $34.19 on Friday. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 12.76 and a beta of 0.59. The company's fifty day moving average is $37.16 and its 200-day moving average is $35.64. The company has a quick ratio of 2.67, a current ratio of 3.79 and a debt-to-equity ratio of 0.68. Central Garden & Pet Company has a 12 month low of $25.97 and a 12 month high of $40.79.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.03. The business had revenue of $882.36 million during the quarter, compared to analyst estimates of $882.96 million. Central Garden & Pet had a net margin of 5.39% and a return on equity of 11.13%. Central Garden & Pet has set its FY 2026 guidance at 2.850- EPS. Equities analysts expect that Central Garden & Pet Company will post 2.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other Central Garden & Pet news, insider John Walker, III sold 5,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $38.50, for a total value of $192,500.00. Following the completion of the sale, the insider owned 64,679 shares of the company's stock, valued at $2,490,141.50. The trade was a 7.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 20.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on CENTA shares. Zacks Research lowered Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Wall Street Zen downgraded Central Garden & Pet from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Canaccord Genuity Group dropped their target price on Central Garden & Pet from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Wednesday, June 17th. Weiss Ratings raised Central Garden & Pet from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, September 9th. Finally, JPMorgan Chase & Co. lifted their price target on Central Garden & Pet from $32.00 to $37.00 and gave the company an "underweight" rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.67.

Central Garden & Pet Profile

Central Garden & Pet Company is a marketer and manufacturer of branded products for the pet and lawn-and-garden markets. The company sells its products through retailers, distributors, e-commerce channels and other outlets, serving consumers, pet owners and gardening customers primarily in the United States.

Its pet portfolio includes products for dogs, cats, birds, fish, reptiles, small animals and other companion animals. Offerings include pet food, treats, toys, chews, bedding, habitats, aquatics products, waste-management products and animal health and wellness items.

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