ABC Arbitrage SA Has $637,000 Stock Holdings in Central Garden & Pet Company $CENT

ABC Arbitrage SA boosted its stake in Central Garden & Pet Company (NASDAQ:CENT) by 25.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,102 shares of the company’s stock after buying an additional 3,705 shares during the quarter. ABC Arbitrage SA’s holdings in Central Garden & Pet were worth $637,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CENT. Jane Street Group LLC purchased a new stake in shares of Central Garden & Pet during the first quarter worth $7,347,000. Cubist Systematic Strategies LLC acquired a new position in Central Garden & Pet in the 1st quarter worth about $2,934,000. Millennium Management LLC increased its position in Central Garden & Pet by 39.2% in the 1st quarter. Millennium Management LLC now owns 259,144 shares of the company’s stock worth $9,500,000 after purchasing an additional 72,977 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Central Garden & Pet by 18.3% during the 1st quarter. American Century Companies Inc. now owns 236,681 shares of the company’s stock worth $8,677,000 after purchasing an additional 36,590 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Central Garden & Pet during the 1st quarter valued at about $1,034,000. 16.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CENT has been the topic of a number of research reports. Zacks Research downgraded Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a report on Friday, October 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Central Garden & Pet in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $40.00.

Central Garden & Pet Price Performance

Shares of Central Garden & Pet stock opened at $31.73 on Thursday. 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 firm has a fifty day simple moving average of $32.65 and a 200-day simple moving average of $35.11. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 14.42 and a beta of 0.66. Central Garden & Pet Company has a 1-year low of $28.77 and a 1-year high of $43.88.

Insiders Place Their Bets

In other Central Garden & Pet news, Director John Ranelli sold 3,076 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $32.58, for a total transaction of $100,216.08. Following the completion of the sale, the director directly owned 1,427 shares in the company, valued at $46,491.66. This represents a 68.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John D. Walker III sold 3,500 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $32.59, for a total value of $114,065.00. Following the completion of the sale, the insider directly owned 67,328 shares in the company, valued at approximately $2,194,219.52. This represents a 4.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.19% of the stock is owned by insiders.

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.