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

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

Central Garden & Pet Price Performance

Shares of NASDAQ CENT traded down $0.60 during mid-day trading on Thursday, reaching $35.22. The company’s stock had a trading volume of 78,711 shares, compared to its average volume of 116,514. Central Garden & Pet has a 1-year low of $30.75 and a 1-year high of $47.48. The stock has a market capitalization of $2.37 billion, a P/E ratio of 15.79 and a beta of 0.75. The stock has a 50-day moving average of $37.44 and a two-hundred day moving average of $39.67. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.16 and a current ratio of 3.66.

Central Garden & Pet (NASDAQ:CENT) last announced its earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.11. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. The company had revenue of $996.35 million during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the firm posted $1.40 earnings per share. Central Garden & Pet’s revenue was down 2.6% compared to the same quarter last year. On average, equities research analysts anticipate that Central Garden & Pet will post 2.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other Central Garden & Pet news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction on Friday, August 30th. The shares were sold at an average price of $33.54, for a total value of $2,012,400.00. Following the completion of the transaction, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at approximately $37,758,426.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Ranelli sold 2,500 shares of Central Garden & Pet 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 directly owns 822 shares of the company’s stock, valued at approximately $28,178.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,986 shares of company stock valued at $2,146,841 in the last three months. Corporate insiders own 9.53% of the company’s stock.

Institutional Trading of Central Garden & Pet

A number of institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its position in Central Garden & Pet by 6.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company’s stock valued at $34,085,000 after acquiring an additional 51,454 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Central Garden & Pet by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 777,297 shares of the company’s stock worth $29,926,000 after purchasing an additional 5,571 shares during the period. American Century Companies Inc. lifted its stake in shares of Central Garden & Pet by 24.5% during the 2nd quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock worth $6,262,000 after purchasing an additional 32,009 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Central Garden & Pet by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company’s stock worth $3,345,000 after purchasing an additional 1,873 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Central Garden & Pet by 748.5% in the 2nd quarter. Marshall Wace LLP now owns 84,000 shares of the company’s stock worth $3,234,000 after buying an additional 74,100 shares during the period. 16.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CENT. Canaccord Genuity Group restated a “buy” rating and issued a $48.00 price target on shares of Central Garden & Pet in a report on Monday, September 30th. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. Finally, Truist Financial cut their price target on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price 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.