William Blair Investment Management LLC Acquires 63,008 Shares of Central Garden & Pet Company $CENTA

William Blair Investment Management LLC raised its position in shares of Central Garden & Pet Company (NASDAQ:CENTA) by 8.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 831,433 shares of the company’s stock after purchasing an additional 63,008 shares during the quarter. William Blair Investment Management LLC’s holdings in Central Garden & Pet were worth $26,016,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. increased its stake in Central Garden & Pet by 15.2% during the 1st quarter. American Century Companies Inc. now owns 1,581,900 shares of the company’s stock valued at $51,776,000 after purchasing an additional 208,800 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in Central Garden & Pet by 21.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,164,376 shares of the company’s stock valued at $38,110,000 after purchasing an additional 202,761 shares in the last quarter. Armistice Capital LLC increased its stake in Central Garden & Pet by 28.8% during the 1st quarter. Armistice Capital LLC now owns 1,025,085 shares of the company’s stock valued at $33,551,000 after purchasing an additional 229,324 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Central Garden & Pet by 5.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 879,769 shares of the company’s stock valued at $28,795,000 after purchasing an additional 47,257 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Central Garden & Pet by 108.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 756,270 shares of the company’s stock valued at $24,753,000 after purchasing an additional 392,672 shares in the last quarter. 50.82% of the stock is currently owned by institutional investors.

Central Garden & Pet Trading Up 2.3%

Shares of NASDAQ:CENTA opened at $27.66 on Monday. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 12.57 and a beta of 0.63. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.28 and a current ratio of 3.56. The stock’s 50-day simple moving average is $31.03 and its two-hundred day simple moving average is $31.82. Central Garden & Pet Company has a 52-week low of $25.97 and a 52-week high of $37.35.

Central Garden & Pet (NASDAQ:CENTA) last announced its earnings results on Wednesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.22. The company had revenue of $960.91 million during the quarter, compared to analyst estimates of $993.66 million. Central Garden & Pet had a net margin of 4.44% and a return on equity of 10.77%. Analysts expect that Central Garden & Pet Company will post 2.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Central Garden & Pet in a research note on Wednesday, October 8th. Zacks Research downgraded shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Wall Street Zen raised shares of Central Garden & Pet from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 20th. Finally, Canaccord Genuity Group raised their price target on shares of Central Garden & Pet from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $38.67.

Insider Activity at Central Garden & Pet

In related news, Director John Ranelli sold 3,076 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $32.58, for a total transaction of $100,216.08. Following the completion of the sale, the director directly owned 1,427 shares in the company, valued at approximately $46,491.66. The trade was a 68.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John D. Walker III sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $32.59, for a total transaction of $114,065.00. Following the sale, the insider owned 67,328 shares of the company’s stock, valued at $2,194,219.52. This trade represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 20.28% of the company’s stock.

Central Garden & Pet Company 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.