Exchange Traded Concepts LLC Raises Holdings in Central Garden & Pet Company $CENT

Exchange Traded Concepts LLC boosted its stake in shares of Central Garden & Pet Company (NASDAQ:CENT) by 6.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,262 shares of the company’s stock after acquiring an additional 1,739 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Central Garden & Pet were worth $1,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the business. Banque Cantonale Vaudoise purchased a new position in shares of Central Garden & Pet in the 1st quarter valued at approximately $33,000. Simplex Trading LLC grew its holdings in shares of Central Garden & Pet by 136.2% in the first quarter. Simplex Trading LLC now owns 2,048 shares of the company’s stock worth $75,000 after acquiring an additional 1,181 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Central Garden & Pet by 13.7% in the first quarter. New York State Common Retirement Fund now owns 2,820 shares of the company’s stock worth $103,000 after acquiring an additional 339 shares during the period. GAMMA Investing LLC grew its holdings in Central Garden & Pet by 4,556.8% during the first quarter. GAMMA Investing LLC now owns 3,446 shares of the company’s stock valued at $126,000 after purchasing an additional 3,372 shares during the period. Finally, Quantinno Capital Management LP bought a new stake in Central Garden & Pet during the fourth quarter valued at about $240,000. Hedge funds and other institutional investors own 16.13% of the company’s stock.

Analyst Ratings Changes

Separately, Zacks Research lowered Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.00.

Central Garden & Pet Stock Down 2.6%

Shares of NASDAQ:CENT opened at $33.96 on Tuesday. Central Garden & Pet Company has a 52-week low of $31.97 and a 52-week high of $43.88. The stock has a market cap of $2.14 billion, a P/E ratio of 15.44 and a beta of 0.69. The business’s 50 day moving average is $37.28 and its 200 day moving average is $36.19. The company has a quick ratio of 2.28, a current ratio of 3.56 and a debt-to-equity ratio of 0.75.

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

Insider Buying and Selling at Central Garden & Pet

In related news, insider John D. Walker III sold 3,500 shares of the firm’s stock in a transaction on 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 transaction, the insider owned 67,328 shares in the company, valued at $2,194,219.52. This trade represents a 4.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Ranelli sold 3,076 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $32.58, for a total value of $100,216.08. Following the completion of the transaction, the director owned 1,427 shares of the company’s stock, valued at $46,491.66. This trade represents a 68.31% decrease in their position. The disclosure for this sale can be found here. 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.