Handelsbanken Fonder AB Sells 3,000 Shares of Central Garden & Pet Company $CENT

Handelsbanken Fonder AB lowered its stake in shares of Central Garden & Pet Company (NASDAQ:CENT) by 27.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,016 shares of the company’s stock after selling 3,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Central Garden & Pet were worth $282,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new position in Central Garden & Pet in the 2nd quarter worth approximately $232,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Central Garden & Pet in the 2nd quarter valued at $713,000. ABC Arbitrage SA raised its position in shares of Central Garden & Pet by 25.7% during the second quarter. ABC Arbitrage SA now owns 18,102 shares of the company’s stock worth $637,000 after acquiring an additional 3,705 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Central Garden & Pet by 16.1% during the second quarter. PNC Financial Services Group Inc. now owns 2,827 shares of the company’s stock valued at $99,000 after acquiring an additional 393 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in Central Garden & Pet by 362.9% in the second quarter. Los Angeles Capital Management LLC now owns 26,340 shares of the company’s stock valued at $927,000 after acquiring an additional 20,650 shares during the last quarter. 16.13% of the stock is owned by institutional investors.

Central Garden & Pet Stock Performance

CENT stock opened at $34.16 on Monday. Central Garden & Pet Company has a 1-year low of $28.77 and a 1-year high of $43.88. 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 market cap of $2.15 billion, a PE ratio of 15.53 and a beta of 0.66. The business’s 50-day moving average price is $31.67 and its two-hundred day moving average price is $34.89.

Central Garden & Pet (NASDAQ:CENT) last released its quarterly earnings results on Monday, November 24th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.11. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%.The company had revenue of $678.18 million for the quarter, compared to analyst estimates of $657.86 million. During the same quarter last year, the firm posted ($0.18) earnings per share. Central Garden & Pet’s revenue was up 1.3% compared to the same quarter last year. Central Garden & Pet has set its FY 2026 guidance at 2.700- EPS. As a group, research analysts forecast that Central Garden & Pet Company will post 2.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CENT. Zacks Research lowered Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 24th. Weiss Ratings cut shares of Central Garden & Pet from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $50.00 price target on shares of Central Garden & Pet in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.50.

Central Garden & Pet 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.