Bank of New York Mellon Corp Buys 3,998 Shares of Central Garden & Pet Company $CENTA

Bank of New York Mellon Corp boosted its position in Central Garden & Pet Company (NASDAQ:CENTA) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 405,275 shares of the company’s stock after purchasing an additional 3,998 shares during the period. Bank of New York Mellon Corp owned 0.62% of Central Garden & Pet worth $12,681,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. increased its holdings in Central Garden & Pet by 3.9% in the second quarter. GHP Investment Advisors Inc. now owns 95,946 shares of the company’s stock valued at $3,002,000 after purchasing an additional 3,599 shares during the period. Teacher Retirement System of Texas increased its position in Central Garden & Pet by 3.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,088 shares of the company’s stock valued at $253,000 after buying an additional 304 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of Central Garden & Pet by 14.6% during the second quarter. Brighton Jones LLC now owns 7,895 shares of the company’s stock valued at $247,000 after acquiring an additional 1,008 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in Central Garden & Pet during the second quarter worth $266,000. Finally, Ethic Inc. acquired a new stake in shares of Central Garden & Pet in the 2nd quarter worth about $255,000. 50.82% of the stock is currently owned by institutional investors and hedge funds.

Central Garden & Pet Trading Down 0.4%

NASDAQ:CENTA opened at $27.98 on Wednesday. The company has a quick ratio of 2.28, a current ratio of 3.56 and a debt-to-equity ratio of 0.75. The company has a fifty day moving average of $29.08 and a 200 day moving average of $31.44. The firm has a market capitalization of $1.76 billion, a P/E ratio of 12.72 and a beta of 0.63. Central Garden & Pet Company has a 52 week low of $25.97 and a 52 week high of $37.35.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CENTA shares. JPMorgan Chase & Co. dropped their price objective on Central Garden & Pet from $35.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Wall Street Zen downgraded Central Garden & Pet from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Zacks Research lowered shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 24th. Canaccord Genuity Group lifted their price target on Central Garden & Pet from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Central Garden & Pet in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Central Garden & Pet has a consensus rating of “Hold” and an average price target of $38.33.

Insider Buying and Selling

In other news, Director John Ranelli sold 3,076 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $32.58, for a total transaction of $100,216.08. Following the transaction, the director directly owned 1,427 shares of the company’s stock, valued at approximately $46,491.66. The trade was a 68.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John D. Walker III sold 3,500 shares of the company’s 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 transaction, the insider owned 67,328 shares of the company’s stock, valued at $2,194,219.52. This trade represents a 4.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 20.28% of the stock is currently owned by company 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.