Central Garden & Pet (NASDAQ:CENTA) Short Interest Down 14.7% in April

Central Garden & Pet (NASDAQ:CENTA) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totalling 701,500 shares, a decrease of 14.7% from the March 31st total of 822,800 shares. Based on an average daily trading volume, of 342,100 shares, the short-interest ratio is presently 2.1 days. Currently, 1.3% of the company’s shares are sold short.

Insiders Place Their Bets

In related news, insider John D. Walker III sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $32.86, for a total transaction of $328,600.00. Following the transaction, the insider now directly owns 67,111 shares of the company’s stock, valued at approximately $2,205,267.46. This represents a 12.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 20.28% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

Several institutional investors and hedge funds have recently bought and sold shares of the company. Highbridge Capital Management LLC raised its position in shares of Central Garden & Pet by 89.8% in the fourth quarter. Highbridge Capital Management LLC now owns 685,847 shares of the company’s stock valued at $22,667,000 after purchasing an additional 324,493 shares during the period. Vanguard Group Inc. grew its stake in Central Garden & Pet by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 5,979,003 shares of the company’s stock valued at $197,606,000 after buying an additional 306,449 shares in the last quarter. Norges Bank bought a new stake in Central Garden & Pet during the 4th quarter valued at $8,245,000. American Century Companies Inc. lifted its position in shares of Central Garden & Pet by 14.1% during the fourth quarter. American Century Companies Inc. now owns 1,373,100 shares of the company’s stock worth $45,381,000 after acquiring an additional 170,121 shares in the last quarter. Finally, Credit Industriel ET Commercial bought a new position in shares of Central Garden & Pet in the fourth quarter worth $4,818,000. 50.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CENTA shares. JPMorgan Chase & Co. dropped their target price on Central Garden & Pet from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Truist Financial restated a “hold” rating and set a $35.00 price objective (down from $40.00) on shares of Central Garden & Pet in a research note on Wednesday, April 30th. StockNews.com upgraded shares of Central Garden & Pet from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Argus lowered shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Central Garden & Pet Trading Up 1.6 %

Shares of Central Garden & Pet stock opened at $30.27 on Monday. The firm has a market cap of $1.98 billion, a PE ratio of 16.63 and a beta of 0.75. Central Garden & Pet has a 1 year low of $27.70 and a 1 year high of $41.03. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.47 and a quick ratio of 1.97. The stock has a fifty day moving average price of $31.42 and a 200-day moving average price of $31.91.

Central Garden & Pet (NASDAQ:CENTA) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.24. Central Garden & Pet had a net margin of 3.77% and a return on equity of 10.08%. Equities research analysts anticipate that Central Garden & Pet will post 2.38 EPS for the current year.

About Central Garden & Pet

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish, and small animals, as well as outdoor cushions.