Insider Sale: Central Garden & Pet (NASDAQ: CENTA) SVP Sells 6,466 Shares

Central Garden & Pet (NASDAQ:CENTA – Get Rating) SVP John Edward Hanson sold 6,466 shares of the company in a trade on Tuesday, August 16. The stock was sold at an average price of $42.65, for a total value of $275,774.90. Following the transaction, the senior vice president now directly owns 49,805 shares of the company, valued at $2,124,183.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Central Garden and Pet Stock Performance

Shares of CENTA were up $0.21 during Thursday trading hours, hitting $42.28. 148,265 shares of the company were traded, against an average volume of 177,990. The company has a quick ratio of 1.45, a current ratio of 3.16 and a leverage ratio of 0.88. The company has a fifty-day moving average price of $40.60 and a 200-day moving average price of $41.53. Central Garden & Pet has a 12 month minimum of $37.56 and a 12 month maximum of $52.04. The stock has a market capitalization of $2.30 billion, a P/E ratio of 15.24 and a beta of 0.55.

Central Garden & Pet (NASDAQ:CENTA – Get Rating) last released its quarterly results on Wednesday, August 3. The company reported EPS of $1.39 for the quarter, beating analyst consensus estimates of $1.26 by $0.13. The company posted revenue of $1.02 billion in the quarter, compared to $993.37 million expected by analysts. Central Garden & Pet had a return on equity of 11.86% and a net margin of 4.48%. Stock analysts expect Central Garden & Pet to post an EPS of 2.86 for the current fiscal year.

Analyst upgrades and downgrades

Several brokerages have recently published reports on CENTA. Truist Financial cut its price target on Central Garden & Pet from $65.00 to $60.00 and set a “buy” rating on the stock in a Monday, August 8 research report. KeyCorp cut its price target on Central Garden & Pet shares from $56.00 to $52.00 and set an “overweight” rating on the stock in a Thursday, Aug. 4, report.

Hedge funds weigh on Central Garden & Pet

Several hedge funds and other institutional investors have recently bought and sold shares of CENTA. Inspire Investing LLC acquired a new stake in shares of Central Garden & Pet in the first quarter worth $754,000. Citigroup Inc. increased its equity stake in Central Garden & Pet by 47.3% in the fourth quarter. Citigroup Inc. now owns 38,112 shares of the company valued at $1,824,000 after purchasing an additional 12,233 shares during the period. IndexIQ Advisors LLC increased its stake in shares of Central Garden & Pet by 19.7% in the first quarter. IndexIQ Advisors LLC now owns 9,745 shares of the company worth $397,000 after purchasing an additional 1,607 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in Central Garden & Pet by 20.5% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,467,752 shares of the company worth $70,232,000 after acquiring an additional 249,979 shares during the period. Finally, Principal Financial Group Inc. increased its position in Central Garden & Pet by 10.5% during the fourth quarter. Principal Financial Group Inc. now owns 958,971 shares of the company valued at $45,887,000 after acquiring an additional 91,443 shares last quarter. Institutional investors and hedge funds own 68.74% of the company’s shares.

Central Garden & Pet Company Profile

(Get a rating)

Central Garden & Pet Company produces and distributes various products for the lawn and garden and pet supply markets in the United States. It operates through two segments, Pet and Garden. The Pets segment provides dog and cat supplies, such as dog treats and chews, toys, pet beds and grooming products, waste management and training mats, and pet containment devices; supplies for aquatic animals, small animals, reptiles and pet birds, including toys, cages and habitats, bedding, food and supplements; animal and household health and insect control products; live fish and products for fish, reptiles and other aquarium pets, such as aquariums, furniture and fixtures, pumps, filters, water conditioners, foods and supplements; and products for horses and livestock, as well as outdoor cushions and pillows.

Further reading

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider Central Garden & Pet, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Central Garden & Pet didn’t make the list.

While Central Garden & Pet currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

About Patrick K. Moon

Check Also

The best-selling books of the week

Reading room The best-selling New Zealand books of the week, as recorded by the Nielsen …