Charles Schwab Investment Management Inc. Boosts Stake in Central Garden & Pet Company $CENTA

Charles Schwab Investment Management Inc. boosted its stake in Central Garden & Pet Company (NASDAQ:CENTA) by 5.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 879,769 shares of the company’s stock after buying an additional 47,257 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.34% of Central Garden & Pet worth $28,795,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its stake in shares of Central Garden & Pet by 53.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company’s stock worth $49,000 after purchasing an additional 517 shares during the period. Summit Investment Advisors Inc. increased its holdings in Central Garden & Pet by 6.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,458 shares of the company’s stock valued at $180,000 after purchasing an additional 325 shares in the last quarter. Bank of Montreal Can increased its holdings in Central Garden & Pet by 12.6% in the 4th quarter. Bank of Montreal Can now owns 6,538 shares of the company’s stock valued at $216,000 after purchasing an additional 734 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Central Garden & Pet in the 1st quarter valued at $224,000. Finally, Numerai GP LLC acquired a new stake in shares of Central Garden & Pet during the fourth quarter valued at about $237,000. Hedge funds and other institutional investors own 50.82% of the company’s stock.

Insider Activity

In related news, Chairman William E. Brown sold 7,800 shares of Central Garden & Pet stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $32.04, for a total value of $249,912.00. Following the completion of the sale, the chairman 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 20.28% of the stock is owned by company insiders.

Central Garden & Pet Trading Up 0.9%

NASDAQ CENTA opened at $32.37 on Wednesday. Central Garden & Pet Company has a twelve month low of $27.70 and a twelve month high of $37.35. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.28 and a current ratio of 3.56. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 14.71 and a beta of 0.67. The firm’s 50 day moving average price is $33.25 and its two-hundred day moving average price is $32.21.

Central Garden & Pet (NASDAQ:CENTA) last issued its earnings results on Wednesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 4.44% and a return on equity of 10.77%. Equities analysts anticipate that Central Garden & Pet Company will post 2.38 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on CENTA shares. Canaccord Genuity Group raised their target price on Central Garden & Pet from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Wall Street Zen raised shares of Central Garden & Pet from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Truist Financial restated a “hold” rating and issued a $35.00 target price (down from $40.00) on shares of Central Garden & Pet in a research report on Wednesday, April 30th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $38.67.

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.