Vanguard Group Inc. Sells 103,464 Shares of Central Garden & Pet Company $CENTA

Key Points

• Vanguard Group Inc. reduced its stake in Central Garden & Pet Company by 1.7%, holding approximately 5.88 million shares valued at about $192.31 million as of its latest SEC filing.
• Central Garden & Pet reported a quarterly earnings per share of $1.56, exceeding analysts' expectations, although revenue of $960.91 million fell short of estimates.
• The company has a market cap of $2.04 billion and is currently trading with a price-to-earnings ratio of 14.71, indicating moderate valuation within its sector.

Vanguard Group Inc. decreased its holdings in shares of Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,875,539 shares of the company's stock after selling 103,464 shares during the period. Vanguard Group Inc. owned approximately 8.97% of Central Garden & Pet worth $192,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Summit Investment Advisors Inc. boosted its position in shares of Central Garden & Pet by 6.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,458 shares of the company's stock valued at $180,000 after purchasing an additional 325 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Central Garden & Pet by 3.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,048 shares of the company's stock valued at $431,000 after purchasing an additional 398 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Central Garden & Pet by 53.1% in the first quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company's stock worth $49,000 after buying an additional 517 shares during the period. Bank of Montreal Can boosted its holdings in shares of Central Garden & Pet by 12.6% in the fourth quarter. Bank of Montreal Can now owns 6,538 shares of the company's stock worth $216,000 after buying an additional 734 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Central Garden & Pet by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,678 shares of the company's stock worth $981,000 after buying an additional 1,024 shares during the period. Institutional investors own 50.82% of the company's stock.

Insiders Place Their Bets

In related news, Chairman William E. Brown sold 7,800 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $32.04, for a total transaction of $249,912.00. Following the transaction, the chairman owned 377,383 shares of the company's stock, valued at approximately $12,091,351.32. This trade represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 20.28% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on CENTA. Truist Financial reiterated 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. Canaccord Genuity Group raised their target price on shares of Central Garden & Pet from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $38.67.

Central Garden & Pet Stock Up 3.1%

Shares of CENTA stock traded up $0.99 during trading on Friday, hitting $33.20. 518,623 shares of the company were exchanged, compared to its average volume of 394,015. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 15.09 and a beta of 0.67. The business's 50-day simple moving average is $33.33 and its 200 day simple moving average is $32.23. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.28 and a current ratio of 3.56. Central Garden & Pet Company has a twelve month low of $27.70 and a twelve month high of $37.35.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.22. The firm had revenue of $960.91 million for the quarter, compared to analyst estimates of $993.66 million. Central Garden & Pet had a net margin of 4.44% and a return on equity of 10.77%. As a group, analysts forecast that Central Garden & Pet Company will post 2.38 EPS for the current fiscal year.

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.