Voya Investment Management LLC Trims Stake in Central Garden & Pet Company $CENT

Voya Investment Management LLC decreased its position in shares of Central Garden & Pet Company (NASDAQ:CENT) by 12.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 7,602 shares of the company’s stock after selling 1,077 shares during the period. Voya Investment Management LLC’s holdings in Central Garden & Pet were worth $279,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in Central Garden & Pet during the first quarter valued at $7,347,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Central Garden & Pet in the first quarter worth $2,934,000. Millennium Management LLC grew its stake in shares of Central Garden & Pet by 39.2% in the first quarter. Millennium Management LLC now owns 259,144 shares of the company’s stock worth $9,500,000 after acquiring an additional 72,977 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Central Garden & Pet by 18.3% in the first quarter. American Century Companies Inc. now owns 236,681 shares of the company’s stock worth $8,677,000 after acquiring an additional 36,590 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Central Garden & Pet in the first quarter worth $1,046,000. Hedge funds and other institutional investors own 16.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. One equities 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, Central Garden & Pet currently has a consensus rating of “Hold” and an average target price of $40.00.

Insider Activity

In related news, insider John D. Walker III sold 3,500 shares of Central Garden & Pet 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 transaction, the insider owned 67,328 shares in the company, valued at approximately $2,194,219.52. This trade represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Ranelli sold 3,076 shares of Central Garden & Pet stock in a transaction dated 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 approximately $46,491.66. This represents a 68.31% decrease in their position. The disclosure for this sale can be found here. Insiders own 8.19% of the company’s stock.

Central Garden & Pet Price Performance

Shares of Central Garden & Pet stock opened at $32.78 on Tuesday. Central Garden & Pet Company has a one year low of $31.97 and a one year high of $43.88. The stock’s fifty day moving average is $36.61 and its 200 day moving average is $36.08. The stock has a market cap of $2.06 billion, a P/E ratio of 14.90 and a beta of 0.69. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.28 and a current ratio of 3.56.

Central Garden & Pet (NASDAQ:CENT) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.22. The business 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%.The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $1.19 earnings per share. Sell-side analysts anticipate that Central Garden & Pet Company will post 2.38 earnings per share for the current 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.