Central Garden & Pet (NASDAQ:CENT) Short Interest Up 11.9% in December

Central Garden & Pet (NASDAQ:CENT) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,970,000 shares, an increase of 11.9% from the December 15th total of 1,760,000 shares. Based on an average trading volume of 123,000 shares, the days-to-cover ratio is currently 16.0 days. Approximately 21.9% of the company’s stock are sold short.

Hedge Funds Weigh In On Central Garden & Pet

Large investors have recently modified their holdings of the stock. American Century Companies Inc. grew its stake in Central Garden & Pet by 24.5% in the 2nd quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock valued at $6,262,000 after buying an additional 32,009 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Central Garden & Pet during the second quarter worth approximately $51,000. Dimensional Fund Advisors LP grew its position in shares of Central Garden & Pet by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 777,297 shares of the company’s stock valued at $29,926,000 after purchasing an additional 5,571 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Central Garden & Pet during the second quarter worth approximately $207,000. Finally, Inspire Investing LLC lifted its holdings in Central Garden & Pet by 10.3% during the 2nd quarter. Inspire Investing LLC now owns 9,247 shares of the company’s stock worth $356,000 after purchasing an additional 861 shares during the last quarter. 16.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Truist Financial reduced their price target on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Argus cut Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, Canaccord Genuity Group decreased their target price on shares of Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Central Garden & Pet presently has a consensus rating of “Buy” and an average target price of $46.75.

Central Garden & Pet Stock Performance

NASDAQ CENT traded down $0.06 during trading on Friday, reaching $36.26. 52,724 shares of the company’s stock were exchanged, compared to its average volume of 130,949. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19. The business has a 50 day moving average price of $38.70 and a 200-day moving average price of $37.80. The stock has a market capitalization of $2.38 billion, a P/E ratio of 22.41 and a beta of 0.79. Central Garden & Pet has a fifty-two week low of $32.17 and a fifty-two week high of $47.48.

Central Garden & Pet (NASDAQ:CENT) last posted its earnings results on Monday, November 25th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%. The business had revenue of $669.49 million for the quarter, compared to analyst estimates of $707.83 million. Central Garden & Pet’s revenue was down 10.8% compared to the same quarter last year. Sell-side analysts forecast that Central Garden & Pet will post 2.22 earnings per share for the current fiscal year.

About Central Garden & Pet

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.