Two Sigma Investments LP Buys New Shares in Central Garden & Pet (NASDAQ:CENTA)

Two Sigma Investments LP purchased a new stake in Central Garden & Pet (NASDAQ:CENTA - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 70,431 shares of the company's stock, valued at approximately $2,328,000. Two Sigma Investments LP owned about 0.11% of Central Garden & Pet as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CENTA. Barclays PLC boosted its position in Central Garden & Pet by 161.7% in the third quarter. Barclays PLC now owns 122,530 shares of the company's stock valued at $3,849,000 after buying an additional 75,718 shares during the last quarter. NorthRock Partners LLC purchased a new position in shares of Central Garden & Pet during the fourth quarter worth $1,922,000. Denali Advisors LLC acquired a new position in Central Garden & Pet during the fourth quarter valued at $1,573,000. Ameriprise Financial Inc. boosted its holdings in 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 purchasing an additional 11,242 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Central Garden & Pet by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 268,331 shares of the company's stock worth $8,868,000 after purchasing an additional 8,889 shares during the period. Institutional investors and hedge funds own 50.82% of the company's stock.

Central Garden & Pet Price Performance

CENTA traded down $0.27 during midday trading on Wednesday, hitting $31.22. 21,481 shares of the company traded hands, compared to its average volume of 317,441. The business has a 50 day simple moving average of $31.32 and a two-hundred day simple moving average of $32.07. Central Garden & Pet has a 52-week low of $27.70 and a 52-week high of $37.31. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 17.15 and a beta of 0.68. 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 posted its quarterly earnings data 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. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. The company had revenue of $833.54 million for the quarter, compared to analysts' expectations of $876.36 million. On average, equities analysts forecast that Central Garden & Pet will post 2.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Truist Financial reiterated a "hold" rating and set a $35.00 price target (down from $40.00) on shares of Central Garden & Pet in a research report on Wednesday, April 30th. Wall Street Zen raised shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of 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 research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Central Garden & Pet currently has an average rating of "Moderate Buy" and a consensus price target of $33.00.

Insider Transactions at Central Garden & Pet

In other news, Chairman William E. Brown sold 7,800 shares of Central Garden & Pet 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 transaction, the chairman now owns 377,383 shares in the company, valued at $12,091,351.32. The trade was a 2.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 107,800 shares of company stock valued at $3,490,112 over the last 90 days. 20.28% of the stock is currently owned by corporate insiders.

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.