Victory Capital Management Inc. reduced its stake in shares of Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,542,668 shares of the company's stock after selling 391,327 shares during the quarter. Victory Capital Management Inc. owned 3.88% of Central Garden & Pet worth $83,222,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC raised its holdings in Central Garden & Pet by 53.1% during the first quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company's stock worth $49,000 after acquiring an additional 517 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in Central Garden & Pet by 6.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,458 shares of the company's stock valued at $180,000 after buying an additional 325 shares during the period. Bank of Montreal Can raised its stake in 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 in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Central Garden & Pet during the first quarter valued at approximately $224,000. Finally, Numerai GP LLC bought a new stake in shares of Central Garden & Pet during the 4th quarter valued at $237,000. 50.82% of the stock is currently owned by institutional investors.
Insider Activity
In related news, Chairman William E. Brown sold 60,000 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $32.39, for a total transaction of $1,943,400.00. Following the completion of the sale, the chairman directly owned 1,070,365 shares of the company's stock, valued at approximately $34,669,122.35. This represents a 5.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 107,800 shares of company stock worth $3,490,112 over the last 90 days. Company insiders own 20.28% of the company's stock.
Analyst Upgrades and Downgrades
CENTA has been the subject of several recent research reports. Wall Street Zen raised shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Truist Financial restated a "hold" rating and set a $35.00 price objective (down from $40.00) on shares of Central Garden & Pet in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lowered their target price on Central Garden & Pet from $34.00 to $31.00 and set a "neutral" rating on the stock in a report on Friday, April 11th.
Read Our Latest Analysis on CENTA
Central Garden & Pet Stock Performance
CENTA opened at $36.71 on Friday. The business's fifty day moving average is $31.99 and its 200-day moving average is $31.69. Central Garden & Pet Company has a 52-week low of $27.70 and a 52-week high of $37.31. The firm has a market cap of $2.40 billion, a P/E ratio of 19.63 and a beta of 0.66. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.93 and a current ratio of 3.31.
Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.10. The company had revenue of $833.54 million for the quarter, compared to analyst estimates of $876.36 million. Central Garden & Pet had a return on equity of 10.14% and a net margin of 3.90%. Sell-side analysts expect that Central Garden & Pet Company will post 2.38 EPS for the current fiscal year.
About Central Garden & Pet
(
Free Report)
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.
Further Reading
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