Northern Trust Corp Raises Stake in Central Garden & Pet Company $CENTA

Northern Trust Corp increased its stake in shares of Central Garden & Pet Company (NASDAQ:CENTA) by 0.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 573,768 shares of the company’s stock after acquiring an additional 935 shares during the period. Northern Trust Corp owned approximately 0.88% of Central Garden & Pet worth $18,779,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CENTA. Raymond James Financial Inc. bought a new stake in shares of Central Garden & Pet in the 4th quarter valued at approximately $473,000. Price T Rowe Associates Inc. MD grew its stake in shares of Central Garden & Pet by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 117,478 shares of the company’s stock worth $3,884,000 after purchasing an additional 7,526 shares in the last quarter. Algert Global LLC lifted its holdings in shares of Central Garden & Pet by 20.4% in the fourth quarter. Algert Global LLC now owns 103,380 shares of the company’s stock valued at $3,417,000 after buying an additional 17,517 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Central Garden & Pet by 6.0% in the fourth quarter. Ameriprise Financial Inc. now owns 197,652 shares of the company’s stock valued at $6,532,000 after buying an additional 11,242 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of Central Garden & Pet by 76.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 175,925 shares of the company’s stock valued at $5,814,000 after buying an additional 75,986 shares during the period. 50.82% of the stock is owned by institutional investors and hedge funds.

Central Garden & Pet Price Performance

Central Garden & Pet stock opened at $33.03 on Tuesday. The business has a 50 day simple moving average of $33.60 and a 200 day simple moving average of $32.20. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.56 and a quick ratio of 2.28. The company has a market capitalization of $2.08 billion, a PE ratio of 15.01 and a beta of 0.66. Central Garden & Pet Company has a one year low of $27.70 and a one year high of $37.35.

Central Garden & Pet (NASDAQ:CENTA) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.34 by $0.22. The business had revenue of $960.91 million for the quarter, compared to analyst estimates of $993.66 million. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%. On average, sell-side analysts forecast that Central Garden & Pet Company will post 2.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CENTA. Wall Street Zen upgraded Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Canaccord Genuity Group upped their target price on Central Garden & Pet from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. 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 company has a consensus rating of “Hold” and a consensus price target of $38.67.

Insiders Place Their Bets

In related news, insider John D. Walker III sold 3,500 shares of Central Garden & Pet stock in a transaction on Monday, August 25th. The stock was sold at an average price of $32.59, for a total transaction of $114,065.00. Following the completion of the sale, the insider directly owned 67,328 shares of the company’s stock, valued at $2,194,219.52. The trade was a 4.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Ranelli sold 3,076 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $32.58, for a total value of $100,216.08. Following the completion of the sale, the director owned 1,427 shares in the company, valued at approximately $46,491.66. This trade represents a 68.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.28% of the stock is owned by insiders.

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.