Central Garden & Pet Company (NASDAQ:CENTA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of Central Garden & Pet Company (NASDAQ:CENTA) by 0.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 267,825 shares of the company’s stock after selling 506 shares during the quarter. Principal Financial Group Inc. owned approximately 0.41% of Central Garden & Pet worth $8,766,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CENTA. Summit Investment Advisors Inc. increased its stake in shares of Central Garden & Pet by 6.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,458 shares of the company’s stock worth $180,000 after acquiring an additional 325 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Central Garden & Pet by 12.6% in the 4th quarter. Bank of Montreal Can now owns 6,538 shares of the company’s stock worth $216,000 after acquiring an additional 734 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Central Garden & Pet in the 1st quarter worth $224,000. Numerai GP LLC acquired a new stake in shares of Central Garden & Pet in the 4th quarter worth $237,000. Finally, Pictet Asset Management Holding SA increased its stake in shares of Central Garden & Pet by 32.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 7,412 shares of the company’s stock worth $245,000 after acquiring an additional 1,813 shares during the last quarter. 50.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Central Garden & Pet

In other news, Chairman William E. Brown sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $32.39, for a total value of $1,943,400.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 107,800 shares of company stock valued at $3,490,112. Company insiders own 20.28% of the company’s stock.

Central Garden & Pet Stock Up 2.2%

Central Garden & Pet stock opened at $36.52 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.31 and a quick ratio of 1.93. Central Garden & Pet Company has a 1-year low of $27.70 and a 1-year high of $37.31. The company has a market cap of $2.39 billion, a PE ratio of 19.53 and a beta of 0.66. The stock’s 50 day moving average price is $31.53 and its 200 day moving average price is $31.59.

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

Analyst Ratings Changes

CENTA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Central Garden & Pet from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Truist Financial reissued a “hold” rating and set a $35.00 price objective (down from $40.00) on shares of Central Garden & Pet in a research report on Wednesday, April 30th. Finally, Wall Street Zen raised Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th.

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.