Central Garden & Pet (NASDAQ:CENTA) Reaches New 52-Week Low at $35.35

Central Garden & Pet (NASDAQ:CENTAGet Rating) shares reached a new 52-week low on Wednesday . The company traded as low as $35.35 and last traded at $35.43, with a volume of 73 shares changing hands. The stock had previously closed at $35.65.

Analyst Upgrades and Downgrades

CENTA has been the topic of a number of research reports. Truist Financial decreased their price objective on Central Garden & Pet from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, August 8th. KeyCorp decreased their price objective on Central Garden & Pet from $56.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, August 4th. Finally, CJS Securities initiated coverage on Central Garden & Pet in a report on Thursday, August 25th. They issued an “outperform” rating and a $50.00 price objective on the stock.

Central Garden & Pet Trading Down 1.6 %

The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 12.63 and a beta of 0.58. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.45 and a current ratio of 3.16. The firm has a fifty day moving average price of $39.93 and a 200-day moving average price of $40.87.

Central Garden & Pet (NASDAQ:CENTAGet Rating) last released its earnings results on Wednesday, August 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.13. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $993.37 million. Central Garden & Pet had a return on equity of 11.86% and a net margin of 4.48%. As a group, equities analysts anticipate that Central Garden & Pet will post 2.87 EPS for the current year.

Insider Activity at Central Garden & Pet

In related news, SVP John Edward Hanson sold 6,466 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $42.65, for a total value of $275,774.90. Following the sale, the senior vice president now directly owns 49,805 shares of the company’s stock, valued at $2,124,183.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Central Garden & Pet news, insider John D. Walker III sold 5,000 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $40.56, for a total value of $202,800.00. Following the completion of the transaction, the insider now directly owns 88,116 shares in the company, valued at $3,573,984.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Edward Hanson sold 6,466 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $42.65, for a total value of $275,774.90. Following the completion of the transaction, the senior vice president now owns 49,805 shares of the company’s stock, valued at $2,124,183.25. The disclosure for this sale can be found here. 20.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Central Garden & Pet

A number of hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its position in shares of Central Garden & Pet by 1.6% during the second quarter. Envestnet Asset Management Inc. now owns 15,398 shares of the company’s stock worth $616,000 after acquiring an additional 249 shares during the last quarter. Advisor Group Holdings Inc. raised its position in shares of Central Garden & Pet by 20.3% during the first quarter. Advisor Group Holdings Inc. now owns 2,076 shares of the company’s stock worth $1,092,000 after acquiring an additional 350 shares during the last quarter. Legal & General Group Plc increased its holdings in Central Garden & Pet by 0.3% in the second quarter. Legal & General Group Plc now owns 119,814 shares of the company’s stock worth $4,794,000 after purchasing an additional 363 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Central Garden & Pet by 2.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 19,202 shares of the company’s stock worth $768,000 after purchasing an additional 379 shares in the last quarter. Finally, Martingale Asset Management L P increased its holdings in Central Garden & Pet by 1.0% in the second quarter. Martingale Asset Management L P now owns 39,074 shares of the company’s stock worth $1,565,000 after purchasing an additional 395 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors.

About Central Garden & Pet

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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 grooming products, waste management and training pads, and pet containment; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; animal and household health and insect control products; live fish and products for fish, reptiles, and other aquarium-based pets, such as aquariums, furniture and lighting fixtures, pumps, filters, water conditioners, food, and supplements; and products for horses and livestock, as well as outdoor cushions and pillows.

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