Bank of New York Mellon Corp Grows Stake in Central Garden & Pet Co (NASDAQ:CENT)

Bank of New York Mellon Corp raised its holdings in Central Garden & Pet Co (NASDAQ:CENT) by 41.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 204,093 shares of the company’s stock after buying an additional 59,561 shares during the quarter. Bank of New York Mellon Corp owned about 0.39% of Central Garden & Pet worth $7,927,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CENT. Renaissance Technologies LLC raised its stake in Central Garden & Pet by 34.8% in the second quarter. Renaissance Technologies LLC now owns 641,776 shares of the company’s stock valued at $20,402,000 after buying an additional 165,676 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Central Garden & Pet by 85.5% in the second quarter. Ameriprise Financial Inc. now owns 150,475 shares of the company’s stock worth $4,784,000 after purchasing an additional 69,342 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Central Garden & Pet by 24.1% in the second quarter. TIAA CREF Investment Management LLC now owns 261,448 shares of the company’s stock worth $8,311,000 after purchasing an additional 50,830 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Central Garden & Pet by 3.8% in the second quarter. Vanguard Group Inc. now owns 1,372,123 shares of the company’s stock worth $43,620,000 after purchasing an additional 49,679 shares during the last quarter. Finally, OxFORD Asset Management LLP purchased a new position in shares of Central Garden & Pet in the second quarter worth about $1,141,000. Institutional investors own 20.02% of the company’s stock.

Shares of Central Garden & Pet Co (NASDAQ:CENT) opened at $36.95 on Friday. The company has a market capitalization of $1,860.00, a PE ratio of 24.31, a P/E/G ratio of 2.22 and a beta of 0.03. Central Garden & Pet Co has a 1-year low of $29.08 and a 1-year high of $42.29. The company has a current ratio of 3.10, a quick ratio of 1.37 and a debt-to-equity ratio of 0.62.

Central Garden & Pet (NASDAQ:CENT) last posted its earnings results on Tuesday, November 28th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). Central Garden & Pet had a return on equity of 12.81% and a net margin of 3.84%. The company had revenue of $490.46 million for the quarter, compared to analyst estimates of $439.07 million. During the same period last year, the business earned $0.13 earnings per share. The firm’s revenue was up 18.6% on a year-over-year basis. analysts predict that Central Garden & Pet Co will post 1.66 EPS for the current year.

In other Central Garden & Pet news, Director John Ranelli sold 46,991 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $37.87, for a total value of $1,779,549.17. Following the sale, the director now directly owns 61,317 shares of the company’s stock, valued at $2,322,074.79. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Nicholas Lahanas sold 7,119 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $38.78, for a total value of $276,074.82. Following the completion of the sale, the chief financial officer now directly owns 27,959 shares in the company, valued at $1,084,250.02. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,299 shares of company stock worth $2,673,558. 12.60% of the stock is owned by corporate insiders.

CENT has been the subject of several research analyst reports. Zacks Investment Research cut Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Sidoti lowered Central Garden & Pet from a “buy” rating to a “neutral” rating in a report on Monday, October 16th. KeyCorp reaffirmed a “hold” rating on shares of Central Garden & Pet in a report on Monday, October 16th. Oppenheimer reaffirmed a “hold” rating on shares of Central Garden & Pet in a report on Wednesday, November 29th. Finally, CL King assumed coverage on Central Garden & Pet in a report on Thursday, December 7th. They set a “buy” rating and a $47.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Central Garden & Pet has an average rating of “Hold” and an average price target of $44.00.

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About Central Garden & Pet

Central Garden & Pet Company is a marketer and producer of branded products and distributor of third party products in the pet and lawn and garden supplies industries in the United States. The Company operates in two segments: Pet segment and the Garden segment. It is a marketer and producer of pet supplies in the United States.

Institutional Ownership by Quarter for Central Garden & Pet (NASDAQ:CENT)

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