Teacher Retirement System of Texas Invests $255,000 in Central Garden & Pet Company (NASDAQ:CENTA)

Teacher Retirement System of Texas acquired a new position in Central Garden & Pet Company (NASDAQ:CENTA) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,784 shares of the company’s stock, valued at approximately $255,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Highbridge Capital Management LLC lifted its holdings in 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 buying an additional 324,493 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Central Garden & Pet by 5.4% in the 4th 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 shares of Central Garden & Pet in the 4th quarter valued at about $8,245,000. American Century Companies Inc. raised its holdings in shares of 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 valued at $45,381,000 after purchasing an additional 170,121 shares in the last quarter. Finally, Credit Industriel ET Commercial bought a new stake in shares of Central Garden & Pet in the 4th quarter valued at about $4,818,000. 50.82% of the stock is owned by hedge funds and other institutional investors.

Central Garden & Pet Price Performance

Shares of CENTA opened at $36.01 on Friday. The company has a market cap of $2.36 billion, a P/E ratio of 19.26 and a beta of 0.66. The stock has a fifty day moving average price of $32.09 and a 200 day moving average price of $31.70. 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 12 month low of $27.70 and a 12 month 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 the consensus estimate 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, research analysts forecast that Central Garden & Pet Company will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $32.39, for a total transaction of $1,943,400.00. Following the completion of the sale, the chairman directly owned 1,070,365 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Insiders sold 107,800 shares of company stock worth $3,490,112 over the last ninety days. Corporate insiders own 20.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CENTA. Wall Street Zen raised shares of Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Truist Financial reiterated a “hold” rating and issued a $35.00 target price (down from $40.00) on shares of Central Garden & Pet in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. reduced 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 report on Friday, April 11th.

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.