Rhumbline Advisers Lowers Stock Position in Central Garden & Pet Company (NASDAQ:CENT)

Rhumbline Advisers reduced its stake in shares of Central Garden & Pet Company (NASDAQ:CENT) by 6.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,304 shares of the company’s stock after selling 1,748 shares during the period. Rhumbline Advisers’ holdings in Central Garden & Pet were worth $1,001,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS purchased a new position in shares of Central Garden & Pet during the 4th quarter worth approximately $58,000. GAMMA Investing LLC lifted its holdings in shares of Central Garden & Pet by 4,556.8% during the 1st quarter. GAMMA Investing LLC now owns 3,446 shares of the company’s stock worth $126,000 after acquiring an additional 3,372 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of 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 acquiring an additional 2,550 shares during the last quarter. Amundi boosted its holdings in shares of Central Garden & Pet by 193.8% in the 4th quarter. Amundi now owns 4,201 shares of the company’s stock valued at $151,000 after purchasing an additional 2,771 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in shares of Central Garden & Pet during the 4th quarter valued at $240,000. 16.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Central Garden & Pet

In other news, Chairman William E. Brown sold 7,800 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $32.04, for a total transaction of $249,912.00. Following the sale, the chairman now directly owns 377,383 shares in the company, valued at approximately $12,091,351.32. This represents a 2.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 107,800 shares of company stock worth $3,490,112 over the last quarter. 8.19% of the stock is owned by corporate insiders.

Central Garden & Pet Stock Up 0.2%

Shares of Central Garden & Pet stock opened at $34.32 on Friday. Central Garden & Pet Company has a twelve month low of $31.97 and a twelve month high of $43.88. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 18.35 and a beta of 0.72. The company has a current ratio of 3.31, a quick ratio of 1.93 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average price of $35.31 and a 200 day moving average price of $36.64.

Central Garden & Pet (NASDAQ:CENT) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.10. The business had revenue of $833.54 million during the quarter, compared to analyst estimates of $876.36 million. Central Garden & Pet had a net margin of 3.90% and a return on equity of 10.14%. The business’s revenue was down 7.4% on a year-over-year basis. During the same period last year, the business earned $0.99 EPS. Equities research analysts forecast that Central Garden & Pet Company will post 2.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.