Central Garden & Pet Co (NASDAQ:CENT) CEO George C. Roeth sold 3,595 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $26.53, for a total transaction of $95,375.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
CENT traded up $0.78 during midday trading on Friday, reaching $29.74. 90,759 shares of the company’s stock were exchanged, compared to its average volume of 156,994. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 15.57 and a beta of -0.05. The company has a quick ratio of 2.79, a current ratio of 4.52 and a debt-to-equity ratio of 0.69. Central Garden & Pet Co has a one year low of $25.07 and a one year high of $45.02.
Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.03. The firm had revenue of $673.70 million during the quarter, compared to analysts’ expectations of $647.00 million. Central Garden & Pet had a net margin of 4.19% and a return on equity of 9.92%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 earnings per share. Equities research analysts expect that Central Garden & Pet Co will post 1.85 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Huntington National Bank lifted its stake in Central Garden & Pet by 41.4% during the fourth quarter. Huntington National Bank now owns 1,155 shares of the company’s stock worth $40,000 after purchasing an additional 338 shares during the period. Legal & General Group Plc lifted its stake in Central Garden & Pet by 2.2% during the fourth quarter. Legal & General Group Plc now owns 22,511 shares of the company’s stock worth $773,000 after purchasing an additional 475 shares during the period. Prudential Financial Inc. lifted its stake in Central Garden & Pet by 4.5% during the fourth quarter. Prudential Financial Inc. now owns 17,626 shares of the company’s stock worth $607,000 after purchasing an additional 763 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Central Garden & Pet in the fourth quarter valued at approximately $29,000. Finally, Arizona State Retirement System raised its stake in shares of Central Garden & Pet by 6.2% in the fourth quarter. Arizona State Retirement System now owns 15,898 shares of the company’s stock valued at $548,000 after acquiring an additional 923 shares during the last quarter. Hedge funds and other institutional investors own 22.53% of the company’s stock.
Several equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Central Garden & Pet from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. ValuEngine upgraded shares of Central Garden & Pet from a “strong sell” rating to a “sell” rating in a research note on Monday, April 15th. Argus reduced their target price on shares of 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, TheStreet cut shares of Central Garden & Pet from a “b” rating to a “c+” rating in a research note on Wednesday, February 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $40.50.
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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.
Further Reading: Fiduciary
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