Central Garden & Pet (NASDAQ:CENT) Short Interest Down 8.7% in September

by · The Cerbat Gem

Central Garden & Pet (NASDAQ:CENT – Get Free Report) was the recipient of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 1,360,000 shares, a decrease of 8.7% from the September 15th total of 1,490,000 shares. Based on an average daily volume of 119,800 shares, the short-interest ratio is currently 11.4 days. Approximately 14.3% of the shares of the company are sold short.

Analyst Ratings Changes

A number of research firms have recently issued reports on CENT. Truist Financial dropped their price objective on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a “strong-buy” rating in a report on Monday, July 1st. Finally, Canaccord Genuity Group restated a “buy” rating and set a $48.00 target price on shares of Central Garden & Pet in a research note on Monday, September 30th. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $47.50.

View Our Latest Research Report on CENT

Central Garden & Pet Stock Down 1.7 %

Shares of CENT traded down $0.60 during midday trading on Thursday, hitting $35.22. The company had a trading volume of 78,711 shares, compared to its average volume of 116,514. 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 52 week low of $30.75 and a 52 week high of $47.48. The company’s 50 day moving average price is $37.34 and its 200 day moving average price is $39.63. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 15.79 and a beta of 0.75.

Central Garden & Pet (NASDAQ:CENT – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.11. The business had revenue of $996.35 million for the quarter, compared to the consensus estimate of $1 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. The business’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the business posted $1.40 EPS. On average, equities research analysts predict that Central Garden & Pet will post 2.11 EPS for the current year.

Insider Buying and Selling

In other Central Garden & Pet 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 sale, the chairman now directly owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Brooks Pennington III sold 1,486 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total transaction of $48,740.80. Following the sale, the director now owns 40,743 shares of the company’s stock, valued at $1,336,370.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman William E. Brown sold 60,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the transaction, the chairman now directly owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,986 shares of company stock valued at $2,146,841 over the last ninety days. Corporate insiders own 9.53% of the company’s stock.

Institutional Investors Weigh In On Central Garden & Pet

A number of hedge funds have recently made changes to their positions in the business. Marshall Wace LLP raised its position in shares of Central Garden & Pet by 748.5% during the 2nd quarter. Marshall Wace LLP now owns 84,000 shares of the company’s stock worth $3,234,000 after buying an additional 74,100 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Central Garden & Pet by 6.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company’s stock worth $34,085,000 after purchasing an additional 51,454 shares in the last quarter. American Century Companies Inc. lifted its position in Central Garden & Pet by 24.5% in the second quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock worth $6,262,000 after purchasing an additional 32,009 shares during the period. ProShare Advisors LLC boosted its stake in Central Garden & Pet by 92.6% during the 1st quarter. ProShare Advisors LLC now owns 51,117 shares of the company’s stock valued at $2,189,000 after purchasing an additional 24,575 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Central Garden & Pet by 32.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,862 shares of the company’s stock valued at $1,793,000 after purchasing an additional 10,237 shares during the period. Institutional investors own 16.13% of the company’s stock.

About Central Garden & Pet

(Get Free Report)

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.

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