Y Intercept Hong Kong Ltd Makes New Investment in Central Garden & Pet Company (NASDAQ:CENTA)

Y Intercept Hong Kong Ltd acquired a new stake in shares of Central Garden & Pet Company (NASDAQ:CENTA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,991 shares of the company's stock, valued at approximately $327,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Summit Investment Advisors Inc. raised its holdings in Central Garden & Pet by 6.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,458 shares of the company's stock worth $180,000 after purchasing an additional 325 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Central Garden & Pet by 3.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,048 shares of the company's stock worth $431,000 after purchasing an additional 398 shares in the last quarter. Sei Investments Co. raised its holdings in Central Garden & Pet by 0.8% in the fourth quarter. Sei Investments Co. now owns 49,074 shares of the company's stock worth $1,622,000 after purchasing an additional 410 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in 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 purchasing an additional 517 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings 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 purchasing an additional 734 shares in the last quarter. Hedge funds and other institutional investors own 50.82% of the company's stock.

Central Garden & Pet Stock Performance

NASDAQ:CENTA traded down $0.28 on Friday, hitting $35.24. The stock had a trading volume of 272,968 shares, compared to its average volume of 388,928. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 18.84 and a beta of 0.66. The company has a quick ratio of 1.93, a current ratio of 3.31 and a debt-to-equity ratio of 0.77. The business's 50-day simple moving average is $32.95 and its two-hundred day simple moving average is $32.05. Central Garden & Pet Company has a 52-week low of $27.70 and a 52-week high of $37.35.

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 for the quarter, beating analysts' consensus estimates of $0.94 by $0.10. Central Garden & Pet had a return on equity of 10.14% and a net margin of 3.90%. The firm had revenue of $833.54 million for the quarter, compared to analysts' expectations of $876.36 million. As a group, research analysts predict that Central Garden & Pet Company will post 2.38 earnings per share for the current year.

Insider Buying and Selling at Central Garden & Pet

In related news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $32.39, for a total transaction of $1,943,400.00. Following the sale, the chairman owned 1,070,365 shares of the company's stock, valued at approximately $34,669,122.35. This trade represents a 5.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 107,800 shares of company stock worth $3,490,112. 20.28% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Central Garden & Pet from $34.00 to $31.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Truist Financial reissued a "hold" rating and issued a $35.00 target price (down from $40.00) on shares of Central Garden & Pet in a research report on Wednesday, April 30th. Finally, Wall Street Zen raised Central Garden & Pet from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th.

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.