Envestnet Asset Management Inc. Sells 946 Shares of Central Garden & Pet Company (NASDAQ:CENT)

Envestnet Asset Management Inc. trimmed its position in Central Garden & Pet Company (NASDAQ:CENT) by 7.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,644 shares of the company’s stock after selling 946 shares during the period. Envestnet Asset Management Inc.’s holdings in Central Garden & Pet were worth $427,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Central Garden & Pet by 9.3% in the 4th quarter. Vanguard Group Inc. now owns 1,474,313 shares of the company’s stock valued at $57,203,000 after purchasing an additional 125,418 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Central Garden & Pet during the first quarter valued at about $1,046,000. JPMorgan Chase & Co. increased its holdings in Central Garden & Pet by 69.2% during the 4th quarter. JPMorgan Chase & Co. now owns 59,603 shares of the company’s stock worth $2,313,000 after purchasing an additional 24,375 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Central Garden & Pet by 14.5% in the fourth quarter. Millennium Management LLC now owns 186,167 shares of the company’s stock valued at $7,223,000 after purchasing an additional 23,622 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Central Garden & Pet by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 796,917 shares of the company’s stock valued at $30,920,000 after buying an additional 22,703 shares during the last quarter. 16.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman William E. Brown sold 7,800 shares of the business’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $32.04, for a total value of $249,912.00. Following the transaction, the chairman directly owned 377,383 shares of the company’s stock, valued at approximately $12,091,351.32. The trade was a 2.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 107,800 shares of company stock worth $3,490,112. Company insiders own 8.19% of the company’s stock.

Analysts Set New Price Targets

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

Central Garden & Pet Trading Down 0.5%

Shares of CENT stock opened at $39.41 on Thursday. Central Garden & Pet Company has a 52-week low of $31.97 and a 52-week high of $43.88. The company has a 50-day simple moving average of $37.15 and a two-hundred day simple moving average of $36.44. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.93 and a current ratio of 3.31. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 21.07 and a beta of 0.70.

Central Garden & Pet (NASDAQ:CENT) last released its earnings results on Wednesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.22. The company had revenue of $960.91 million during the quarter, compared to analyst estimates of $993.66 million. Central Garden & Pet had a return on equity of 10.14% and a net margin of 3.90%. Central Garden & Pet’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 earnings per share. Research analysts anticipate that Central Garden & Pet Company will post 2.38 EPS for the current fiscal year.

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.