Central Garden & Pet (CENTA) Institutional Ownership and Analyst ActivityCentral Garden & Pet (CENTA) Institutional Ownership and Analyst Activity Institutional Ownership * Institutional investors owned 50.82% of the company’s stock as of the first quarter of 2023. * Key institutional investors include: * Mutual of America Capital Management LLC * Nordea Investment Management AB * Capstone Investment Advisors LLC * BNP Paribas Financial Markets * Sequoia Financial Advisors LLC * North Star Investment Management Corp. Analyst Activity * Argus: Upgraded to “Strong Buy” on May 28, 2023. * Monness Crespi & Hardt: Increased price target to $42.00 and maintained “Buy” rating on May 9, 2023. * Canaccord Genuity Group: Upgraded to “Strong Buy” on July 1, 2023. * Truist Financial: Increased price target to $50.00 and maintained “Buy” rating on May 13, 2023. * StockNews.com: Downgraded to “Hold” on July 1, 2023. Consensus Rating and Price Target * Current consensus rating: Buy * Average price target: $41.75 Insider Activity * CAO Howard Machek sold 10,000 shares on May 14, 2023, for $400,500. * Insider John D. Walker III sold 4,218 shares on May 16, 2023, for $170,027.58. * Over the last 90 days, insiders have sold 714,218 shares worth $25,945,528. Company Overview Central Garden & Pet is a manufacturer and distributor of lawn and garden and pet supplies. The company has two business segments: Pet and Garden. The Pet segment provides a wide range of products for dogs, cats, aquatic animals, small animals, reptiles, and livestock. The Garden segment offers lawn and garden products, including fertilizers, herbicides, insecticides, and garden tools.
Mutual of America Capital Management LLC increased its stake in Central Garden & Pet (NASDAQ:CENTA – Free Report) by 29.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 9,303 shares of the company after purchasing an additional 2,128 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Central Garden & Pet were worth $343,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or decreased their stakes in the stock. Nordea Investment Management AB increased its stake in 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 period. Capstone Investment Advisors LLC acquired a new position in shares of Central Garden & Pet during the first quarter worth $525,000. BNP Paribas Financial Markets increased its stake in Central Garden & Pet by 39.5% in the first quarter. BNP Paribas Financial Markets now owns 30,582 shares of the company’s stock worth $1,129,000 after purchasing an additional 8,658 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Central Garden & Pet by 37.2% in the first quarter. Sequoia Financial Advisors LLC now owns 7,598 shares of the company’s stock worth $281,000 after acquiring an additional 2,061 shares during the period. Finally, North Star Investment Management Corp. bought a new stake in Central Garden & Pet during the first quarter worth approximately $194,000. Institutional investors own 50.82% of the company’s stock.
Analysts set new price targets
CENTA has been the subject of several recent research reports. Argus upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research note on Tuesday, May 28th. Monness Crespi & Hardt increased their price target on Central Garden & Pet from $39.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a “strong-buy” rating in a report on Monday, July 1st. Truist Financial increased their price target on shares of Central Garden & Pet from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, StockNews.com downgraded 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, three have given it a buy rating and two have given it a strong buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $41.75.
Read our latest research report on Central Garden & Pet
Insider activity
In other news, CAO Howard Machek sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $40.05, for a total transaction of $400,500.00. Following the transaction, the chief accounting officer now directly owns 51,474 shares of the company’s stock, valued at $2,061,533.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, available at this link. In other Central Garden & Pet news, insider John D. Walker III sold 4,218 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $40.31, for a total value of $170,027.58. Following the completion of the sale, the insider now directly owns 85,063 shares of the company’s stock, valued at $3,428,889.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed at this link. Also, CAO Howard Machek sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $40.05, for a total value of $400,500.00. Following the transaction, the chief accounting officer now owns 51,474 shares of the company’s stock, valued at approximately $2,061,533.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 714,218 shares of the company’s stock, valued at $25,945,528. Insiders own 20.28% of the company’s shares.
Central Garden & Pet shares down 0.5%
Shares of CENTA opened on Tuesday at $32.68. Central Garden & Pet has a one-year low of $27.88 and a one-year high of $41.03. The company has a market cap of $2.20 billion, a price/earnings ratio of 14.68 and a beta of 0.75. The stock has a 50-day simple moving average of $35.68 and a 200-day simple moving average of $35.24. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.33 and a quick ratio of 1.68.
Central Garden & Pet (NASDAQ:CENTA – Get Free Report) last released its earnings results on Wednesday, May 8. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.83 by $0.16. Central Garden & Pet had a return on equity of 11.30% and a net margin of 4.49%. The company had revenue of $900.09 million during the quarter, compared to analysts’ expectations of $895.68 million. On average, analysts are predicting that Central Garden & Pet will post 2.28 EPS for the current fiscal year.
Company Profile Central Garden & Pet
(Free Report)
Central Garden & Pet Company manufactures and distributes a variety of products for the lawn and garden and pet supplies markets in the United States. The Company 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 shelters, grooming products, waste management and exercise mats; aquatic, small animal, reptile and pet supplies, including toys, cages and habitats, bedding, and food and supplements; equine and livestock products; animal and household health and pest 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.
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