Central Garden & Pet Company $CENT Shares Sold by Swiss National Bank

Swiss National Bank reduced its holdings in Central Garden & Pet Company (NASDAQ:CENT) by 5.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,650 shares of the company’s stock after selling 1,000 shares during the quarter. Swiss National Bank’s holdings in Central Garden & Pet were worth $684,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its stake in Central Garden & Pet by 8.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 150,427 shares of the company’s stock valued at $5,515,000 after purchasing an additional 12,154 shares during the last quarter. ABC Arbitrage SA acquired a new position in Central Garden & Pet in the first quarter valued at $528,000. XTX Topco Ltd acquired a new position in Central Garden & Pet in the first quarter valued at $550,000. Banque Cantonale Vaudoise acquired a new position in Central Garden & Pet in the first quarter valued at $33,000. Finally, Royce & Associates LP increased its stake in Central Garden & Pet by 17.0% in the first quarter. Royce & Associates LP now owns 41,128 shares of the company’s stock valued at $1,508,000 after purchasing an additional 5,978 shares during the last quarter. 16.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider John D. Walker III sold 3,500 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $32.59, for a total value of $114,065.00. Following the completion of the sale, the insider owned 67,328 shares of the company’s stock, valued at $2,194,219.52. This represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman William E. Brown sold 7,800 shares of the company’s 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 of the company’s stock, valued at $12,091,351.32. The trade was a 2.03% decrease in their position. The disclosure for this sale can be found here. 8.19% of the stock is owned by corporate insiders.

Central Garden & Pet Price Performance

CENT stock opened at $35.81 on Wednesday. The stock has a 50-day moving average price of $37.18 and a two-hundred day moving average price of $36.30. Central Garden & Pet Company has a 12-month low of $31.97 and a 12-month high of $43.88. The company has a current ratio of 3.56, a quick ratio of 2.28 and a debt-to-equity ratio of 0.75. The company has a market cap of $2.25 billion, a PE ratio of 16.28 and a beta of 0.70.

Central Garden & Pet (NASDAQ:CENT) last issued its earnings results on Wednesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.22. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%.The company had revenue of $960.91 million during the quarter, compared to the consensus estimate of $993.66 million. During the same quarter in the prior year, the business earned $1.19 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. As a group, research analysts predict that Central Garden & Pet Company will post 2.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Truist Financial downgraded 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. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Central Garden & Pet currently has an average rating of “Hold” and a consensus target price of $40.00.

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.