Central Garden & Pet (NASDAQ:CENTA) Sees Significant Decline in Short Interest

Central Garden & Pet (NASDAQ:CENTA) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 871,100 shares, a decrease of 10.7% from the August 31st total of 975,600 shares. Based on an average daily volume of 323,800 shares, the short-interest ratio is currently 2.7 days.

Central Garden & Pet Stock Performance

Central Garden & Pet stock opened at $31.40 on Tuesday. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75. Central Garden & Pet has a twelve month low of $27.88 and a twelve month high of $41.03. The company’s 50-day moving average price is $33.30 and its 200-day moving average price is $34.78. The company has a market cap of $2.12 billion, a PE ratio of 14.08 and a beta of 0.73.

Central Garden & Pet (NASDAQ:CENTA) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $996.35 million for the quarter, compared to the consensus estimate of $1.01 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. During the same period in the prior year, the business posted $1.40 earnings per share. On average, equities research analysts forecast that Central Garden & Pet will post 2.11 EPS for the current fiscal year.

Insider Transactions at Central Garden & Pet

In other news, Chairman William E. Brown sold 60,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the completion of the sale, the chairman now owns 1,125,773 shares of the company’s stock, valued at approximately $37,758,426.42. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Brooks Pennington III sold 1,486 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total transaction of $48,740.80. Following the sale, the director now directly owns 40,743 shares in the company, valued at approximately $1,336,370.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction on Friday, August 30th. The shares were sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the transaction, the chairman now owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. The disclosure for this sale can be found here. Insiders have sold 63,986 shares of company stock worth $2,146,841 in the last quarter. Company insiders own 20.28% of the company’s stock.

Institutional Investors Weigh In On Central Garden & Pet

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB grew its holdings in shares of Central Garden & Pet by 33.1% in the first quarter. Nordea Investment Management AB now owns 181,017 shares of the company’s stock worth $6,739,000 after purchasing an additional 44,969 shares during the last quarter. Lazard Asset Management LLC grew its stake in Central Garden & Pet by 1,038.2% in the 1st quarter. Lazard Asset Management LLC now owns 129,744 shares of the company’s stock worth $4,789,000 after acquiring an additional 118,345 shares in the last quarter. Norges Bank purchased a new position in shares of Central Garden & Pet during the fourth quarter worth approximately $11,786,000. Congress Asset Management Co. MA raised its stake in shares of Central Garden & Pet by 22.7% during the first quarter. Congress Asset Management Co. MA now owns 183,737 shares of the company’s stock valued at $6,784,000 after acquiring an additional 33,983 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Central Garden & Pet by 30.2% during the first quarter. Vanguard Group Inc. now owns 5,636,319 shares of the company’s stock valued at $208,093,000 after acquiring an additional 1,306,309 shares in the last quarter. Hedge funds and other institutional investors own 50.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. JPMorgan Chase & Co. lowered their price target on Central Garden & Pet from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, StockNews.com lowered shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $42.00.

About Central Garden & Pet

Central Garden & Pet Company produces and distributes various 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 provides 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, and food and supplements; products for equine and livestock; animal and household health and insect control products; aquariums and terrariums, including fixtures and stands, water conditioners and supplements, water pumps and filters, and lighting systems and accessories; and live fish and small animals, as well as outdoor cushions.