Trexquant Investment LP Buys New Holdings in Central Garden & Pet Company $CENTA

Key Points

• Trexquant Investment LP invested approximately $974,000 in Central Garden & Pet Company by acquiring 29,744 shares in the first quarter.
• Several institutional investors have increased their stakes in Central Garden & Pet, with 50.82% of the stock currently owned by institutional investors and hedge funds.
• Wall Street analysts have shown optimism, upgrading the company to a "buy" rating and raising the price target from $45.00 to $50.00, despite an average rating of "hold."

Trexquant Investment LP bought a new stake in Central Garden & Pet Company (NASDAQ:CENTA - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 29,744 shares of the company's stock, valued at approximately $974,000.

A number of other large investors have also recently modified their holdings of CENTA. Raymond James Financial Inc. acquired a new stake in shares of Central Garden & Pet in the 4th quarter valued at $473,000. Northern Trust Corp boosted its holdings in shares of Central Garden & Pet by 10.6% in the 4th quarter. Northern Trust Corp now owns 572,833 shares of the company's stock valued at $18,932,000 after purchasing an additional 54,694 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Central Garden & Pet by 6.0% in the 4th quarter. Ameriprise Financial Inc. now owns 197,652 shares of the company's stock valued at $6,532,000 after purchasing an additional 11,242 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of Central Garden & Pet by 76.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 175,925 shares of the company's stock valued at $5,814,000 after purchasing an additional 75,986 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its holdings in shares of Central Garden & Pet by 131.0% during the 4th quarter. Gotham Asset Management LLC now owns 16,668 shares of the company's stock valued at $551,000 after acquiring an additional 9,451 shares in the last quarter. Institutional investors and hedge funds own 50.82% of the company's stock.

Insider Activity

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CENTA shares. Canaccord Genuity Group raised their price objective on Central Garden & Pet from $45.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Wall Street Zen raised Central Garden & Pet from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Central Garden & Pet currently has a consensus rating of "Hold" and an average price target of $38.67.

Central Garden & Pet Trading Down 2.7%

Shares of CENTA stock traded down $0.89 during mid-day trading on Friday, hitting $32.35. The company's stock had a trading volume of 205,676 shares, compared to its average volume of 340,346. The company's fifty day simple moving average is $33.93 and its 200-day simple moving average is $32.28. Central Garden & Pet Company has a 52 week low of $27.70 and a 52 week high of $37.35. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.28 and a current ratio of 3.56. The company has a market cap of $2.03 billion, a PE ratio of 14.70 and a beta of 0.66.

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

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.