The Manufacturers Life Insurance Company Increases Position in Central Garden & Pet Company $CENTA

Key Points

• The Manufacturers Life Insurance Company increased its Central Garden & Pet stake by 5% in the first quarter, adding 47,980 shares to own 1.01 million shares valued at approximately $32.8 million, or 1.62% of the company.
• Institutional investors and hedge funds own 50.82% of CENTA, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $46.67.
• Central Garden & Pet reported quarterly earnings of $1.29 per share, beating estimates of $1.08, and revenue of $906.15 million versus expectations of $846.58 million.

The Manufacturers Life Insurance Company raised its position in Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 5.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,012,360 shares of the company's stock after purchasing an additional 47,980 shares during the period. The Manufacturers Life Insurance Company owned 1.62% of Central Garden & Pet worth $32,821,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Central Garden & Pet during the 4th quarter worth $25,000. Advisory Services Network LLC purchased a new position in Central Garden & Pet in the third quarter valued at $29,000. EverSource Wealth Advisors LLC increased its holdings in Central Garden & Pet by 444.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,001 shares of the company's stock valued at $31,000 after buying an additional 817 shares during the last quarter. IFP Advisors Inc raised its stake in Central Garden & Pet by 198.4% in the fourth quarter. IFP Advisors Inc now owns 1,131 shares of the company's stock valued at $33,000 after buying an additional 752 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in Central Garden & Pet by 577.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,654 shares of the company's stock valued at $48,000 after buying an additional 1,410 shares in the last quarter. 50.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on CENTA shares. Canaccord Genuity Group decreased their price target on Central Garden & Pet from $54.00 to $53.00 and set a "buy" rating for the company in a report on Wednesday, June 17th. Zacks Research downgraded Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Wall Street Zen raised Central Garden & Pet from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Weiss Ratings upgraded Central Garden & Pet from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. upped 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 issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.67.

Central Garden & Pet Price Performance

Shares of NASDAQ:CENTA opened at $37.91 on Friday. The company's fifty day moving average price is $37.25 and its 200 day moving average price is $34.34. Central Garden & Pet Company has a 12 month low of $25.97 and a 12 month high of $39.99. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.45 and a quick ratio of 2.16. The firm has a market capitalization of $2.37 billion, a P/E ratio of 13.79 and a beta of 0.57.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.21. Central Garden & Pet had a net margin of 5.42% and a return on equity of 11.55%. The firm had revenue of $906.15 million during the quarter, compared to analysts' expectations of $846.58 million. Central Garden & Pet has set its FY 2026 guidance at 2.700- EPS. As a group, sell-side analysts predict that Central Garden & Pet Company will post 2.89 earnings per share for the current fiscal year.

About Central Garden & Pet

Central Garden & Pet Co is a leading producer, marketer and distributor of branded consumable gardening products and pet supplies in North America. Headquartered in Walnut Creek, California, the company serves both retail and wholesale customers through a network of distribution centers across the United States and Canada. Operating under the ticker symbol CENTA on the NASDAQ exchange, Central Garden & Pet has been publicly traded since 2003.

The company's Garden segment offers a broad portfolio of lawn and garden care solutions, including fertilizers, weed and pest control products, soil and mulch, and plant care accessories.

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