Central Garden & Pet (NASDAQ:CENTA) Short Interest Down 10.7% in September

Central Garden & Pet (NASDAQ:CENTA) was the recipient of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 871,100 shares, a decline of 10.7% from the August 31st total of 975,600 shares. Based on an average trading volume of 323,800 shares, the days-to-cover ratio is presently 2.7 days.

Insider Buying and Selling at Central Garden & Pet

In related news, Director John Ranelli sold 2,500 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $34.28, for a total transaction of $85,700.00. Following the transaction, the director now owns 822 shares in the company, valued at approximately $28,178.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director John Ranelli sold 2,500 shares of Central Garden & Pet stock in a transaction on Monday, August 19th. The shares were sold at an average price of $34.28, for a total value of $85,700.00. Following the sale, the director now owns 822 shares in the company, valued at $28,178.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman William E. Brown sold 60,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the transaction, the chairman now directly owns 1,125,773 shares in the company, valued at $37,758,426.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,986 shares of company stock worth $2,146,841. 20.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd purchased a new position in shares of Central Garden & Pet during the second quarter valued at approximately $154,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Central Garden & Pet in the 2nd quarter worth approximately $61,000. Quarry LP grew its position in Central Garden & Pet by 503.2% in the 2nd quarter. Quarry LP now owns 754 shares of the company’s stock worth $25,000 after purchasing an additional 629 shares during the period. Logan Stone Capital LLC raised its stake in Central Garden & Pet by 2.5% during the 2nd quarter. Logan Stone Capital LLC now owns 256,147 shares of the company’s stock valued at $8,461,000 after buying an additional 6,181 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Central Garden & Pet by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 631,724 shares of the company’s stock valued at $20,866,000 after buying an additional 33,379 shares during the period. 50.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CENTA has been the topic of several research reports. Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a research report on Monday, July 1st. StockNews.com lowered Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Monday, July 1st. Finally, JPMorgan Chase & Co. reduced their price target on Central Garden & Pet from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $42.00.

Central Garden & Pet Stock Performance

Central Garden & Pet stock opened at $31.40 on Tuesday. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75. The stock’s 50 day moving average is $33.30 and its 200 day moving average is $34.78. Central Garden & Pet has a twelve month low of $27.88 and a twelve month high of $41.03. The company has a market capitalization of $2.12 billion, a P/E ratio of 14.08 and a beta of 0.73.

Central Garden & Pet (NASDAQ:CENTA) last issued its earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. The firm had revenue of $996.35 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm posted $1.40 earnings per share. On average, equities research analysts predict that Central Garden & Pet will post 2.11 earnings per share for the current fiscal year.

Central Garden & Pet Company Profile

Central Garden & Pet Company produces and distributes various products for the lawn and garden, and pet supplies markets in the United States. It operates through two segments: Pet and Garden. The Pet segment provides 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, and food and supplements; products for equine and livestock; animal and household health and insect control products; aquariums and terrariums, including fixtures and stands, water conditioners and supplements, water pumps and filters, and lighting systems and accessories; and live fish and small animals, as well as outdoor cushions.