Silvercrest Asset Management Group LLC Lowers Position in Central Garden & Pet (NASDAQ:CENTA)

Silvercrest Asset Management Group LLC lessened its stake in Central Garden & Pet (NASDAQ:CENTA - Free Report) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,133,963 shares of the company's stock after selling 74,928 shares during the period. Silvercrest Asset Management Group LLC owned 1.73% of Central Garden & Pet worth $37,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in CENTA. Barclays PLC lifted its holdings in shares of Central Garden & Pet by 161.7% during the 3rd quarter. Barclays PLC now owns 122,530 shares of the company's stock valued at $3,849,000 after purchasing an additional 75,718 shares during the last quarter. NorthRock Partners LLC acquired a new position in Central Garden & Pet during the 4th quarter valued at about $1,922,000. Denali Advisors LLC purchased a new stake in Central Garden & Pet in the fourth quarter valued at about $1,573,000. Principal Financial Group Inc. raised its stake in Central Garden & Pet by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 268,331 shares of the company's stock valued at $8,868,000 after buying an additional 8,889 shares during the last quarter. Finally, Highbridge Capital Management LLC boosted its holdings in Central Garden & Pet by 89.8% in the fourth quarter. Highbridge Capital Management LLC now owns 685,847 shares of the company's stock worth $22,667,000 after acquiring an additional 324,493 shares in the last quarter. 50.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CENTA has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Central Garden & Pet from $34.00 to $31.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Truist Financial reiterated 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. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $33.00.

Central Garden & Pet Stock Performance

Shares of NASDAQ:CENTA traded down $0.22 during trading on Thursday, hitting $31.91. The stock had a trading volume of 74,864 shares, compared to its average volume of 318,022. The company has a quick ratio of 1.97, a current ratio of 3.47 and a debt-to-equity ratio of 0.78. Central Garden & Pet has a 12-month low of $27.70 and a 12-month high of $40.05. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 17.54 and a beta of 0.68. The stock has a 50-day simple moving average of $31.30 and a two-hundred day simple moving average of $32.06.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.10. Central Garden & Pet had a net margin of 3.77% and a return on equity of 10.08%. The company had revenue of $833.54 million during the quarter, compared to analyst estimates of $876.36 million. On average, equities research analysts expect that Central Garden & Pet will post 2.38 earnings per share for the current fiscal year.

Central Garden & Pet Company 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.