Wealth Enhancement Advisory Services LLC Boosts Holdings in Central Garden & Pet Company (NASDAQ:CENTA)

Wealth Enhancement Advisory Services LLC increased its stake in Central Garden & Pet Company (NASDAQ:CENTA) by 4.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,652 shares of the company’s stock after buying an additional 604 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Central Garden & Pet were worth $447,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CENTA. Smartleaf Asset Management LLC increased its stake in shares of Central Garden & Pet by 668.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 930 shares of the company’s stock worth $31,000 after buying an additional 809 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Central Garden & Pet by 7.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 832,512 shares of the company’s stock valued at $27,515,000 after purchasing an additional 59,489 shares during the last quarter. Keybank National Association OH increased its stake in Central Garden & Pet by 2.7% during the fourth quarter. Keybank National Association OH now owns 17,640 shares of the company’s stock valued at $583,000 after purchasing an additional 468 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Central Garden & Pet during the fourth quarter valued at $1,637,000. Finally, Raymond James Financial Inc. bought a new stake in Central Garden & Pet during the fourth quarter valued at $473,000. Institutional investors own 50.82% of the company’s stock.

Central Garden & Pet Stock Performance

CENTA stock opened at $32.42 on Monday. The company has a market capitalization of $2.12 billion, a P/E ratio of 17.33 and a beta of 0.66. The company has a 50-day simple moving average of $31.27 and a 200 day simple moving average of $31.61. Central Garden & Pet Company has a fifty-two week low of $27.70 and a fifty-two week high of $37.31. The company has a quick ratio of 1.93, a current ratio of 3.31 and a debt-to-equity ratio of 0.77.

Central Garden & Pet (NASDAQ:CENTA) last issued 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. Central Garden & Pet had a net margin of 3.90% and a return on equity of 10.14%. The company had revenue of $833.54 million during the quarter, compared to the consensus estimate of $876.36 million. Sell-side analysts predict that Central Garden & Pet Company will post 2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price 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. Truist Financial reissued a “hold” rating and set a $35.00 price target (down previously from $40.00) on shares of Central Garden & Pet in a report on Wednesday, April 30th. Finally, Wall Street Zen raised shares of Central Garden & Pet from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th.

Insider Activity at Central Garden & Pet

In other Central Garden & Pet news, Chairman William E. Brown sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $32.39, for a total value of $1,943,400.00. Following the completion of the transaction, the chairman directly owned 1,070,365 shares in the company, valued at $34,669,122.35. This trade represents a 5.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 107,800 shares of company stock valued at $3,490,112 in the last ninety days. Company insiders own 20.28% of the company’s stock.

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.