Versor Investments LP Buys Shares of 15,788 Central Garden & Pet Company $CENT

Key Points

• Versor Investments LP has acquired a new position in Central Garden & Pet Company (NASDAQ:CENT), purchasing 15,788 shares valued at approximately $579,000 in the first quarter.
• Several institutional investors, including Banque Cantonale Vaudoise and Simplex Trading LLC, have recently modified their holdings in Central Garden & Pet, collectively showing increasing interest in the company.
• Analysts have lowered the rating of Central Garden & Pet from "buy" to "hold," setting a price target of $35.00, with a consensus target price of $40.00 based on current estimates.

Versor Investments LP bought a new position in Central Garden & Pet Company (NASDAQ:CENT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 15,788 shares of the company's stock, valued at approximately $579,000.

Other institutional investors have also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in shares of Central Garden & Pet in the 1st quarter worth about $33,000. Simplex Trading LLC grew its stake in shares of Central Garden & Pet by 136.2% during the first quarter. Simplex Trading LLC now owns 2,048 shares of the company's stock valued at $75,000 after buying an additional 1,181 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Central Garden & Pet by 13.7% during the first quarter. New York State Common Retirement Fund now owns 2,820 shares of the company's stock valued at $103,000 after buying an additional 339 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Central Garden & Pet by 4,556.8% during the first quarter. GAMMA Investing LLC now owns 3,446 shares of the company's stock valued at $126,000 after buying an additional 3,372 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Central Garden & Pet by 201.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,818 shares of the company's stock valued at $148,000 after buying an additional 2,550 shares during the last quarter. Institutional investors own 16.13% of the company's stock.

Insider Transactions at Central Garden & Pet

In related news, Chairman William E. Brown sold 7,800 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $32.04, for a total value of $249,912.00. Following the transaction, the chairman owned 377,383 shares of the company's stock, valued at $12,091,351.32. This represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Truist Financial cut Central Garden & Pet from a "buy" rating to a "hold" rating and set a $35.00 target price on the stock. in a research note on Wednesday, April 30th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Central Garden & Pet has an average rating of "Hold" and an average price target of $40.00.

Central Garden & Pet Trading Down 1.1%

NASDAQ:CENT traded down $0.41 during midday trading on Monday, hitting $36.21. The stock had a trading volume of 7,571 shares, compared to its average volume of 139,536. Central Garden & Pet Company has a one year low of $31.97 and a one year high of $43.88. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 16.46 and a beta of 0.70. The stock has a 50-day moving average of $37.12 and a 200 day moving average of $36.32. The company has a quick ratio of 2.28, a current ratio of 3.56 and a debt-to-equity ratio of 0.75.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.56 earnings per share (EPS) 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 company had revenue of $960.91 million for the quarter, compared to analysts' expectations of $993.66 million. During the same quarter in the prior year, the firm earned $1.19 earnings per share. Central Garden & Pet's revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Central Garden & Pet Company will post 2.38 EPS for the current 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.