Central Garden & Pet (NASDAQ:CENT) released its earnings results on Wednesday. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06), Bloomberg Earnings reports. The firm had revenue of $462.00 million during the quarter, compared to analysts’ expectations of $487.52 million. Central Garden & Pet had a return on equity of 13.33% and a net margin of 5.58%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $0.19 earnings per share. Central Garden & Pet updated its FY 2019 guidance to $1.80-1.80 EPS and its FY19 guidance to $1.80 or higher EPS.
Shares of Central Garden & Pet stock traded up $0.32 during trading on Wednesday, hitting $39.94. The stock had a trading volume of 146,561 shares, compared to its average volume of 118,594. The company has a market cap of $2.06 billion, a P/E ratio of 20.91 and a beta of 0.14. The company has a debt-to-equity ratio of 0.73, a current ratio of 5.72 and a quick ratio of 3.71. Central Garden & Pet has a 1 year low of $29.81 and a 1 year high of $45.02.
In related news, Director Michael Edwards purchased 2,930 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was acquired at an average cost of $34.07 per share, for a total transaction of $99,825.10. Following the completion of the acquisition, the director now owns 2,930 shares in the company, valued at approximately $99,825.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brooks Pennington III sold 1,944 shares of the firm’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $34.70, for a total transaction of $67,456.80. Following the sale, the director now owns 41,305 shares of the company’s stock, valued at $1,433,283.50. The disclosure for this sale can be found here. Company insiders own 10.35% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. First Hawaiian Bank boosted its holdings in shares of Central Garden & Pet by 2.8% during the fourth quarter. First Hawaiian Bank now owns 12,198 shares of the company’s stock worth $420,000 after purchasing an additional 337 shares during the period. Huntington National Bank boosted its holdings in shares of Central Garden & Pet by 41.4% during the fourth quarter. Huntington National Bank now owns 1,155 shares of the company’s stock worth $40,000 after purchasing an additional 338 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Central Garden & Pet during the fourth quarter worth approximately $29,000. Arizona State Retirement System boosted its holdings in shares of Central Garden & Pet by 6.2% during the fourth quarter. Arizona State Retirement System now owns 15,898 shares of the company’s stock worth $548,000 after purchasing an additional 923 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in shares of Central Garden & Pet by 13.8% during the fourth quarter. New York State Teachers Retirement System now owns 8,170 shares of the company’s stock worth $281,000 after purchasing an additional 988 shares during the period. Institutional investors and hedge funds own 24.13% of the company’s stock.
Several research firms have recently weighed in on CENT. BidaskClub downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. ValuEngine raised shares of Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Tuesday, January 22nd. Zacks Investment Research raised shares of Central Garden & Pet from a “strong sell” rating to a “hold” rating in a research report on Monday, October 22nd. Finally, KeyCorp began coverage on shares of Central Garden & Pet in a research report on Thursday, October 11th. They issued an “overweight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $44.17.
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Central Garden & Pet Company Profile
Central Garden & Pet Company, together with its subsidiaries, produces and distributes products for the lawn and garden, and pet supplies markets in the United States. It operates through two segments, Pet and Garden. The Pet segment supplies products for dogs and cats, including edible bones, edible and non-edible chews, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and products for birds, small animals, and specialty pets, such as food, cages and habitats, toys, chews, and related accessories.
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