Bank of America Corp DE Sells 38,900 Shares of Central Garden & Pet (NASDAQ:CENT)

Bank of America Corp DE trimmed its holdings in Central Garden & Pet (NASDAQ:CENT) by 16.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,681 shares of the company’s stock after selling 38,900 shares during the period. Bank of America Corp DE owned approximately 0.30% of Central Garden & Pet worth $7,554,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS purchased a new position in Central Garden & Pet in the 4th quarter worth approximately $58,000. Tower Research Capital LLC TRC lifted its holdings in Central Garden & Pet by 201.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,818 shares of the company’s stock worth $148,000 after buying an additional 2,550 shares during the period. Amundi raised its holdings in Central Garden & Pet by 193.8% in the fourth quarter. Amundi now owns 4,201 shares of the company’s stock worth $151,000 after purchasing an additional 2,771 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Central Garden & Pet by 22.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,002 shares of the company’s stock worth $310,000 after acquiring an additional 1,488 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in Central Garden & Pet during the 4th quarter valued at approximately $396,000. Institutional investors own 16.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Truist Financial downgraded Central Garden & Pet from a “buy” rating to a “hold” rating and set a $35.00 target price on the stock. in a research note on Wednesday, April 30th.

Insider Activity at Central Garden & Pet

In related news, Chairman William E. Brown sold 40,000 shares of Central Garden & Pet stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $32.42, for a total value of $1,296,800.00. Following the completion of the transaction, the chairman now owns 1,030,365 shares in the company, valued at approximately $33,404,433.30. This trade represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.19% of the stock is currently owned by corporate insiders.

Central Garden & Pet Stock Down 1.2%

CENT opened at $35.52 on Monday. Central Garden & Pet has a 1-year low of $31.97 and a 1-year high of $46.85. The firm’s 50 day simple moving average is $35.36 and its two-hundred day simple moving average is $37.00. The company has a current ratio of 3.47, a quick ratio of 1.97 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $2.33 billion, a PE ratio of 19.52 and a beta of 0.73.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.10. The firm had revenue of $833.54 million during the quarter, compared to analysts’ expectations of $876.36 million. Central Garden & Pet had a net margin of 3.77% and a return on equity of 10.08%. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 earnings per share. As a group, equities analysts forecast that Central Garden & Pet will post 2.38 EPS for the current year.

Central Garden & Pet Profile

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.