Northern Trust Corp Raises Stake in Central Garden & Pet (NASDAQ:CENTA)

Northern Trust Corp lifted its holdings in shares of Central Garden & Pet (NASDAQ:CENTA - Free Report) by 10.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 572,833 shares of the company's stock after purchasing an additional 54,694 shares during the period. Northern Trust Corp owned about 0.87% of Central Garden & Pet worth $18,932,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in Central Garden & Pet by 668.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 930 shares of the company's stock valued at $31,000 after acquiring an additional 809 shares during the period. Venturi Wealth Management LLC bought a new stake in Central Garden & Pet in the 4th quarter valued at about $102,000. KBC Group NV raised its stake in Central Garden & Pet by 50.1% in the 4th quarter. KBC Group NV now owns 3,606 shares of the company's stock valued at $119,000 after acquiring an additional 1,204 shares during the period. Summit Investment Advisors Inc. raised its stake in Central Garden & Pet by 6.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,458 shares of the company's stock valued at $180,000 after acquiring an additional 325 shares during the period. Finally, Bank of Montreal Can raised its stake in Central Garden & Pet by 12.6% in the 4th quarter. Bank of Montreal Can now owns 6,538 shares of the company's stock valued at $216,000 after acquiring an additional 734 shares during the period. 50.82% of the stock is currently owned by institutional investors.

Central Garden & Pet Price Performance

Shares of CENTA traded up $0.56 during midday trading on Friday, hitting $32.04. 320,703 shares of the company traded hands, compared to its average volume of 318,352. The stock has a 50-day moving average of $31.29 and a 200-day moving average of $32.00. Central Garden & Pet has a one year low of $27.70 and a one year high of $40.39. The firm has a market cap of $2.10 billion, a P/E ratio of 17.60 and a beta of 0.68. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.47 and a quick ratio of 1.97.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last announced 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. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. The firm had revenue of $833.54 million for the quarter, compared to analysts' expectations of $876.36 million. As a group, sell-side analysts predict that Central Garden & Pet will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CENTA. Truist Financial restated a "hold" rating and issued a $35.00 price objective (down from $40.00) on shares of Central Garden & Pet in a research note on Wednesday, April 30th. StockNews.com cut Central Garden & Pet from a "buy" rating to a "hold" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. decreased their price target on Central Garden & Pet from $34.00 to $31.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $33.00.

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.