Bank of New York Mellon Corp Increases Stock Holdings in Central Garden & Pet Company (NASDAQ:CENT)

Bank of New York Mellon Corp increased its stake in shares of Central Garden & Pet Company (NASDAQ:CENT) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 75,701 shares of the company’s stock after purchasing an additional 1,818 shares during the period. Bank of New York Mellon Corp owned 0.12% of Central Garden & Pet worth $2,775,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas grew its holdings in shares of Central Garden & Pet by 54.6% during the fourth quarter. Teacher Retirement System of Texas now owns 16,937 shares of the company’s stock worth $657,000 after buying an additional 5,979 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Central Garden & Pet by 12.7% during the fourth quarter. American Century Companies Inc. now owns 200,091 shares of the company’s stock worth $7,764,000 after buying an additional 22,556 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Central Garden & Pet by 1.7% during the fourth quarter. Sei Investments Co. now owns 37,809 shares of the company’s stock worth $1,467,000 after buying an additional 632 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Central Garden & Pet during the fourth quarter worth $58,000. Finally, Vanguard Group Inc. grew its holdings in shares of Central Garden & Pet by 9.3% during the fourth quarter. Vanguard Group Inc. now owns 1,474,313 shares of the company’s stock worth $57,203,000 after buying an additional 125,418 shares in the last quarter. Institutional investors and hedge funds own 16.13% of the company’s stock.

Central Garden & Pet Stock Performance

NASDAQ CENT opened at $40.29 on Monday. The company has a market cap of $2.64 billion, a P/E ratio of 21.55 and a beta of 0.70. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.31 and a quick ratio of 1.93. The stock has a 50-day moving average of $36.65 and a two-hundred day moving average of $36.26. 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 released its earnings results on Wednesday, May 7th. The company reported $1.04 earnings per share 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 during the quarter, compared to the consensus estimate of $876.36 million. During the same period in the previous year, the company posted $0.99 EPS. Central Garden & Pet’s revenue was down 7.4% compared to the same quarter last year. As a group, analysts anticipate that Central Garden & Pet Company will post 2.38 EPS for the current year.

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 target on the stock. in a report on Wednesday, April 30th.

Insider Transactions at Central Garden & Pet

In related news, Chairman William E. Brown sold 60,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chairman directly owned 1,070,365 shares of the company’s stock, valued at $34,669,122.35. This represents a 5.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 107,800 shares of company stock valued at $3,490,112 over the last three months. Corporate insiders own 8.19% of the company’s stock.

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.