Bank of New York Mellon Corp Sells 20,807 Shares of Central Garden & Pet Company (NASDAQ:CENTA)

Bank of New York Mellon Corp decreased its position in shares of Central Garden & Pet Company (NASDAQ:CENTA) by 4.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 401,277 shares of the company’s stock after selling 20,807 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.61% of Central Garden & Pet worth $13,134,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CENTA. Teacher Retirement System of Texas bought a new stake in shares of Central Garden & Pet during the first quarter valued at approximately $255,000. GHP Investment Advisors Inc. increased its holdings in shares of Central Garden & Pet by 1.7% in the first quarter. GHP Investment Advisors Inc. now owns 92,347 shares of the company’s stock worth $3,023,000 after purchasing an additional 1,527 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Central Garden & Pet in the first quarter worth about $224,000. CWA Asset Management Group LLC bought a new position in Central Garden & Pet during the first quarter valued at approximately $573,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Central Garden & Pet by 4.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,652 shares of the company’s stock valued at $447,000 after buying an additional 604 shares in the last quarter. Institutional investors own 50.82% of the company’s stock.

Central Garden & Pet Stock Down 1.9%

NASDAQ CENTA opened at $36.01 on Monday. Central Garden & Pet Company has a 52 week low of $27.70 and a 52 week high of $37.31. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 19.26 and a beta of 0.66. The company has a quick ratio of 1.93, a current ratio of 3.31 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average of $32.09 and a two-hundred day moving average of $31.70.

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

Insider Transactions at Central Garden & Pet

In related news, Chairman William E. Brown sold 7,800 shares of Central Garden & Pet stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $32.04, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 107,800 shares of company stock valued at $3,490,112. 20.28% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Truist Financial reiterated a “hold” rating and set a $35.00 target price (down from $40.00) on shares of Central Garden & Pet in a research report on Wednesday, April 30th. JPMorgan Chase & Co. reduced their target price on shares of Central Garden & Pet from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. 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.

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.