Central Garden & Pet (NASDAQ:CENT) Short Interest Update

Central Garden & Pet (NASDAQ:CENT) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totalling 1,360,000 shares, a decrease of 8.7% from the September 15th total of 1,490,000 shares. Approximately 14.3% of the company’s stock are short sold. Based on an average daily volume of 119,800 shares, the short-interest ratio is presently 11.4 days.

Insider Activity at Central Garden & Pet

In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total value of $48,740.80. Following the transaction, the director now owns 40,743 shares of the company’s stock, valued at $1,336,370.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Brooks Pennington III sold 1,486 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total transaction of $48,740.80. Following the transaction, the director now owns 40,743 shares in the company, valued at $1,336,370.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Ranelli sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were 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 $28,178.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 63,986 shares of company stock worth $2,146,841. Corporate insiders own 9.53% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

Several hedge funds have recently modified their holdings of the stock. Inspire Investing LLC lifted its position in Central Garden & Pet by 21.5% during the third quarter. Inspire Investing LLC now owns 11,235 shares of the company’s stock worth $410,000 after acquiring an additional 1,988 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Central Garden & Pet during the third quarter worth $111,000. Cubist Systematic Strategies LLC bought a new stake in shares of Central Garden & Pet during the second quarter worth $187,000. Point72 Asset Management L.P. bought a new stake in shares of Central Garden & Pet during the second quarter worth $113,000. Finally, Marshall Wace LLP lifted its holdings in shares of Central Garden & Pet by 748.5% during the second quarter. Marshall Wace LLP now owns 84,000 shares of the company’s stock worth $3,234,000 after purchasing an additional 74,100 shares during the period. Institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Trading Down 1.7 %

Shares of CENT stock traded down $0.60 during trading hours on Thursday, reaching $35.22. The company had a trading volume of 78,711 shares, compared to its average volume of 116,514. The company has a 50 day moving average of $37.44 and a 200 day moving average of $39.67. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 15.79 and a beta of 0.75. Central Garden & Pet has a 1-year low of $30.75 and a 1-year high of $47.48.

Central Garden & Pet (NASDAQ:CENT) last released its quarterly earnings data on Wednesday, August 7th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.11. The business had revenue of $996.35 million during the quarter, compared to analysts’ expectations of $1 billion. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. On average, equities research analysts anticipate that Central Garden & Pet will post 2.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Truist Financial reduced their price objective on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday. Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a research report on Monday, July 1st. Finally, Canaccord Genuity Group restated a “buy” rating and set a $48.00 price target on shares of Central Garden & Pet in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Central Garden & Pet currently has a consensus rating of “Buy” and an average price target of $47.50.

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.