Central Garden & Pet Co (NASDAQ:CENT) saw a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,315,600 shares, an increase of 14.0% from the April 30th total of 1,154,000 shares. Approximately 12.8% of the shares of the stock are short sold. Based on an average daily volume of 148,300 shares, the short-interest ratio is presently 8.9 days.
In other Central Garden & Pet news, Director Brooks Pennington III sold 1,644 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $26.24, for a total value of $43,138.56. Following the completion of the sale, the director now owns 42,023 shares of the company’s stock, valued at $1,102,683.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider George C. Roeth sold 3,398 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $25.42, for a total value of $86,377.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,962 shares of company stock worth $288,224. 12.60% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. purchased a new stake in shares of Central Garden & Pet during the fourth quarter valued at $29,000. Huntington National Bank boosted its position in Central Garden & Pet by 33.6% in the first quarter. Huntington National Bank now owns 1,543 shares of the company’s stock worth $39,000 after purchasing an additional 388 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Central Garden & Pet by 611.5% in the first quarter. BNP Paribas Arbitrage SA now owns 2,405 shares of the company’s stock worth $61,000 after purchasing an additional 2,067 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in Central Garden & Pet in the fourth quarter worth about $100,000. Finally, SG Americas Securities LLC purchased a new position in Central Garden & Pet in the first quarter worth about $107,000. 22.69% of the stock is currently owned by institutional investors.
Shares of NASDAQ:CENT traded up $0.24 on Thursday, hitting $28.41. 75,654 shares of the company traded hands, compared to its average volume of 147,106. Central Garden & Pet has a 52 week low of $25.07 and a 52 week high of $45.02. The company has a debt-to-equity ratio of 0.69, a current ratio of 4.52 and a quick ratio of 2.79. The company has a market capitalization of $1.64 billion, a PE ratio of 14.86 and a beta of -0.05.
Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.03. Central Garden & Pet had a return on equity of 9.92% and a net margin of 4.19%. The firm had revenue of $673.70 million during the quarter, compared to the consensus estimate of $647.00 million. During the same period last year, the company earned $0.86 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. On average, sell-side analysts anticipate that Central Garden & Pet will post 1.8 earnings per share for the current fiscal year.
Several brokerages have issued reports on CENT. BidaskClub raised Central Garden & Pet from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 30th. TheStreet lowered Central Garden & Pet from a “b” rating to a “c+” rating in a research note on Wednesday, February 27th. Argus cut their target price on Central Garden & Pet from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, March 5th. Finally, ValuEngine lowered Central Garden & Pet from a “sell” rating to a “strong sell” rating in a research note on Friday, March 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $40.50.
About Central Garden & Pet
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.
Read More: Average Daily Trade Volume – What It Means In Stock Trading
Receive News & Ratings for Central Garden & Pet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Central Garden & Pet and related companies with MarketBeat.com's FREE daily email newsletter.