William E. Brown Sells 700,000 Shares of Central Garden & Pet (NASDAQ:CENT) Stock

Central Garden & Pet (NASDAQ:CENTGet Free Report) Chairman William E. Brown sold 700,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $36.25, for a total transaction of $25,375,000.00. Following the sale, the chairman now directly owns 1,189,615 shares of the company’s stock, valued at $43,123,543.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Central Garden & Pet Price Performance

CENT stock opened at $43.45 on Friday. Central Garden & Pet has a one year low of $28.94 and a one year high of $47.48. The company’s fifty day moving average price is $42.69 and its 200-day moving average price is $38.42. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.68 and a current ratio of 3.33. The company has a market capitalization of $2.93 billion, a PE ratio of 19.52 and a beta of 0.72.

Central Garden & Pet (NASDAQ:CENTGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.16. Central Garden & Pet had a net margin of 4.49% and a return on equity of 11.30%. The company had revenue of $900.10 million for the quarter, compared to analysts’ expectations of $888.74 million. During the same quarter in the previous year, the business posted $0.72 earnings per share. Central Garden & Pet’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities analysts anticipate that Central Garden & Pet will post 2.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Central Garden & Pet

Several large investors have recently bought and sold shares of CENT. Banque Cantonale Vaudoise bought a new stake in Central Garden & Pet in the third quarter worth $98,000. Assenagon Asset Management S.A. bought a new stake in Central Garden & Pet in the third quarter worth $148,000. EntryPoint Capital LLC increased its position in Central Garden & Pet by 909.2% in the first quarter. EntryPoint Capital LLC now owns 4,269 shares of the company’s stock worth $183,000 after purchasing an additional 3,846 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in Central Garden & Pet in the fourth quarter worth $241,000. Finally, Nisa Investment Advisors LLC increased its position in Central Garden & Pet by 28.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,850 shares of the company’s stock worth $243,000 after purchasing an additional 1,070 shares during the last quarter. Institutional investors own 16.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CENT. Canaccord Genuity Group began coverage on shares of Central Garden & Pet in a research report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price objective for the company. TheStreet raised shares of Central Garden & Pet from a “c+” rating to a “b-” rating in a report on Friday, March 1st. Argus raised shares of Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, May 28th. Canaccord Genuity Group started coverage on shares of Central Garden & Pet in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target for the company. Finally, Truist Financial raised their price objective on shares of Central Garden & Pet from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $53.50.

Check Out Our Latest Stock Analysis on CENT

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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Insider Buying and Selling by Quarter for Central Garden & Pet (NASDAQ:CENT)

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