Teacher Retirement System of Texas Increases Stock Position in Central Garden & Pet Company (NASDAQ:CENT)

Teacher Retirement System of Texas boosted its stake in Central Garden & Pet Company (NASDAQ:CENT) by 32.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,444 shares of the company’s stock after purchasing an additional 5,507 shares during the quarter. Teacher Retirement System of Texas’ holdings in Central Garden & Pet were worth $823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CENT. Vanguard Group Inc. lifted its position in shares of Central Garden & Pet by 9.3% in the 4th quarter. Vanguard Group Inc. now owns 1,474,313 shares of the company’s stock worth $57,203,000 after purchasing an additional 125,418 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Central Garden & Pet by 0.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 817,499 shares of the company’s stock worth $29,757,000 after buying an additional 6,307 shares during the period. Dimensional Fund Advisors LP boosted its position in Central Garden & Pet by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 796,917 shares of the company’s stock valued at $30,920,000 after acquiring an additional 22,703 shares in the last quarter. Northern Trust Corp raised its position in shares of Central Garden & Pet by 1.8% in the 4th quarter. Northern Trust Corp now owns 207,076 shares of the company’s stock worth $8,035,000 after acquiring an additional 3,655 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Central Garden & Pet by 12.7% in the 4th quarter. American Century Companies Inc. now owns 200,091 shares of the company’s stock valued at $7,764,000 after purchasing an additional 22,556 shares during the period. 16.13% of the stock is owned by hedge funds and other institutional investors.

Central Garden & Pet Price Performance

CENT opened at $40.51 on Tuesday. The stock has a 50-day moving average price of $35.65 and a 200-day moving average price of $36.08. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.31 and a quick ratio of 1.93. The firm has a market cap of $2.65 billion, a PE ratio of 21.66 and a beta of 0.70. Central Garden & Pet Company has a 1 year low of $31.97 and a 1 year high of $43.88.

Central Garden & Pet (NASDAQ:CENT) last issued its earnings results on Wednesday, May 7th. The company reported $1.04 earnings per share 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 business had revenue of $833.54 million during the quarter, compared to analyst estimates of $876.36 million. During the same quarter in the previous year, the firm earned $0.99 EPS. Central Garden & Pet’s revenue was down 7.4% on a year-over-year basis. Sell-side analysts predict that Central Garden & Pet Company will post 2.38 earnings per share for the current fiscal year.

Insider Activity

In other Central Garden & Pet news, Chairman William E. Brown sold 7,800 shares of the business’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $32.04, for a total transaction of $249,912.00. Following the completion of the sale, the chairman directly owned 377,383 shares in the company, valued at $12,091,351.32. The trade was a 2.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 107,800 shares of company stock worth $3,490,112. Insiders own 8.19% of the company’s stock.

Wall Street Analyst Weigh In

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

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.