First Citizens Bank & Trust Co. Invests $266,000 in Central Garden & Pet Company $CENTA

First Citizens Bank & Trust Co. bought a new position in shares of Central Garden & Pet Company (NASDAQ:CENTA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,514 shares of the company’s stock, valued at approximately $266,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. American Century Companies Inc. raised its position in shares of 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 worth $51,776,000 after acquiring an additional 208,800 shares in the last quarter. Westwood Holdings Group Inc. raised its position in shares of 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 worth $38,110,000 after acquiring an additional 202,761 shares in the last quarter. Armistice Capital LLC raised its position in shares of Central Garden & Pet by 28.8% during the 1st quarter. Armistice Capital LLC now owns 1,025,085 shares of the company’s stock worth $33,551,000 after acquiring an additional 229,324 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of 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 worth $28,795,000 after acquiring an additional 47,257 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in Central Garden & Pet by 8.2% during the 2nd quarter. William Blair Investment Management LLC now owns 831,433 shares of the company’s stock worth $26,016,000 after buying an additional 63,008 shares during the last quarter. Institutional investors and hedge funds own 50.82% of the company’s stock.

Central Garden & Pet Stock Performance

NASDAQ:CENTA opened at $29.01 on Monday. The firm’s fifty day moving average price is $30.65 and its 200 day moving average price is $31.73. Central Garden & Pet Company has a 1-year low of $25.97 and a 1-year high of $37.35. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.56 and a quick ratio of 2.28. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 13.19 and a beta of 0.63.

Central Garden & Pet (NASDAQ:CENTA) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.22. Central Garden & Pet had a net margin of 4.44% and a return on equity of 10.77%. The firm had revenue of $960.91 million for the quarter, compared to analyst estimates of $993.66 million. On average, sell-side analysts expect that Central Garden & Pet Company will post 2.38 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on CENTA shares. JPMorgan Chase & Co. dropped their price target on Central Garden & Pet from $35.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday. Weiss Ratings restated a “hold (c+)” rating on shares of Central Garden & Pet in a research note on Wednesday, October 8th. Zacks Research upgraded Central Garden & Pet from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Canaccord Genuity Group raised their price target on Central Garden & Pet from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded Central Garden & Pet from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.33.

Insider Buying and Selling

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

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.