Yousif Capital Management LLC Trims Stock Position in Central Garden & Pet Company (NASDAQ:CENTA)

Yousif Capital Management LLC lessened its position in shares of Central Garden & Pet Company (NASDAQ:CENTA) by 5.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,615 shares of the company’s stock after selling 1,066 shares during the period. Yousif Capital Management LLC’s holdings in Central Garden & Pet were worth $609,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

In other news, Chairman William E. Brown sold 40,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chairman now directly owns 1,030,365 shares of the company’s stock, valued at $33,404,433.30. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 107,800 shares of company stock worth $3,490,112. Insiders own 20.28% of the company’s stock.

Wall Street Analysts Forecast Growth

CENTA has been the subject of a number of research reports. JPMorgan Chase & Co. cut their price objective on shares of Central Garden & Pet from $34.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Wall Street Zen raised Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Finally, Truist Financial reissued a “hold” rating and issued a $35.00 target price (down previously from $40.00) on shares of Central Garden & Pet in a report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $33.00.

Central Garden & Pet Price Performance

CENTA stock opened at $30.44 on Friday. The company has a market capitalization of $1.99 billion, a PE ratio of 16.28 and a beta of 0.68. The company’s fifty day moving average price is $31.14 and its 200-day moving average price is $31.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.93 and a current ratio of 3.31. Central Garden & Pet Company has a one year low of $27.70 and a one year high of $37.31.

Central Garden & Pet (NASDAQ:CENTA) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.10. The company had revenue of $833.54 million during the quarter, compared to analyst estimates of $876.36 million. Central Garden & Pet had a return on equity of 10.14% and a net margin of 3.90%. On average, equities analysts anticipate that Central Garden & Pet Company will post 2.38 EPS for the current fiscal year.

Central Garden & Pet Company 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.