William Blair Investment Management LLC Increases Stake in Central Garden & Pet Company $CENTA

Key Points

• William Blair Investment Management LLC has increased its stake in Central Garden & Pet Company (CENTA) by 8.2% during the second quarter, now holding approximately 1.27% of the company's shares worth $26 million.
• Central Garden & Pet reported an EPS of $1.56 for the last quarter, surpassing analyst expectations of $1.34, though revenue fell short of estimates at $960.91 million.
• Consensus ratings for Central Garden & Pet stock reflect a majority hold status, with an average target price of $38.67, as analysts exhibit mixed sentiments on the company’s future growth.

William Blair Investment Management LLC increased its holdings in Central Garden & Pet Company (NASDAQ:CENTA - Free Report) by 8.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 831,433 shares of the company's stock after purchasing an additional 63,008 shares during the period. William Blair Investment Management LLC owned approximately 1.27% of Central Garden & Pet worth $26,016,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its position in Central Garden & Pet by 53.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company's stock valued at $49,000 after buying an additional 517 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in Central Garden & Pet during the 1st quarter valued at $224,000. Magnetar Financial LLC purchased a new stake in Central Garden & Pet during the 1st quarter valued at $236,000. Teacher Retirement System of Texas purchased a new stake in Central Garden & Pet during the 1st quarter valued at $255,000. Finally, CWM LLC boosted its position in Central Garden & Pet by 797.2% during the 2nd quarter. CWM LLC now owns 9,187 shares of the company's stock valued at $287,000 after buying an additional 8,163 shares during the period. Hedge funds and other institutional investors own 50.82% of the company's stock.

Central Garden & Pet Stock Up 2.3%

Shares of NASDAQ CENTA opened at $27.66 on Monday. The company has a current ratio of 3.56, a quick ratio of 2.28 and a debt-to-equity ratio of 0.75. Central Garden & Pet Company has a 12 month low of $25.97 and a 12 month high of $37.35. The firm has a market capitalization of $1.74 billion, a PE ratio of 12.57 and a beta of 0.63. The firm has a fifty day simple moving average of $31.03 and a two-hundred day simple moving average of $31.82.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CENTA. Weiss Ratings reissued a "hold (c+)" rating on shares of Central Garden & Pet in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Central Garden & Pet from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 20th. Canaccord Genuity Group increased their price target on shares of Central Garden & Pet from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Zacks Research cut shares of Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $38.67.

Insider Activity

In related news, insider John D. Walker III sold 3,500 shares of the stock in a transaction dated Monday, August 25th. The shares were 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 in the company, valued at $2,194,219.52. This trade represents a 4.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Ranelli sold 3,076 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $32.58, for a total transaction of $100,216.08. Following the completion of the transaction, the director owned 1,427 shares of the company's stock, valued at approximately $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. 20.28% of the stock is owned by company insiders.

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.

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