Central Garden & Pet (NASDAQ:CENTA) Holdings Cut by Bank of New York Mellon Corp

Jul 24, 2023

Bank of New York Mellon Corp decreased its stake in Central Garden & Pet (NASDAQ:CENTA - Free Report) by 5.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 450,020 shares of the company's stock after selling 25,880 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.83% of Central Garden & Pet worth $17,582,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in shares of Central Garden & Pet during the 2nd quarter valued at $42,000. Rebalance LLC bought a new position in shares of Central Garden & Pet during the 4th quarter valued at $107,000. Assetmark Inc. raised its holdings in shares of Central Garden & Pet by 31.0% during the 1st quarter. Assetmark Inc. now owns 2,731 shares of the company's stock valued at $107,000 after purchasing an additional 646 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Central Garden & Pet during the 4th quarter valued at $118,000. Finally, UBS Group AG raised its holdings in shares of Central Garden & Pet by 262.1% during the 3rd quarter. UBS Group AG now owns 4,323 shares of the company's stock valued at $147,000 after purchasing an additional 3,129 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

In other news, CAO Howard Machek sold 3,000 shares of Central Garden & Pet stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $42.65, for a total transaction of $127,950.00. Following the sale, the chief accounting officer now directly owns 47,461 shares in the company, valued at approximately $2,024,211.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Howard Machek sold 3,000 shares of Central Garden & Pet stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $42.65, for a total transaction of $127,950.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,461 shares of the company's stock, valued at approximately $2,024,211.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brooks Pennington III sold 777 shares of Central Garden & Pet stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $41.62, for a total transaction of $32,338.74. Following the transaction, the director now directly owns 2,940 shares of the company's stock, valued at $122,362.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,931 shares of company stock worth $2,052,054. Corporate insiders own 20.28% of the company's stock.

A number of research analysts have recently weighed in on the stock. KeyCorp raised their price target on shares of Central Garden & Pet from $46.00 to $50.00 and gave the company an "overweight" rating in a report on Thursday, August 3rd. StockNews.com lowered shares of Central Garden & Pet from a "strong-buy" rating to a "buy" rating in a research note on Monday. Finally, TheStreet upgraded shares of Central Garden & Pet from a "c+" rating to a "b" rating in a research note on Thursday, May 4th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $44.33.

Read Our Latest Research Report on Central Garden & Pet

NASDAQ CENTA opened at $41.38 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.51 and a quick ratio of 1.77. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 18.31 and a beta of 0.71. The company's fifty day moving average is $38.71 and its two-hundred day moving average is $37.65. Central Garden & Pet has a 52-week low of $33.69 and a 52-week high of $45.93.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.30. Central Garden & Pet had a net margin of 3.70% and a return on equity of 9.59%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Equities research analysts forecast that Central Garden & Pet will post 2.59 EPS for the current year.

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 grooming products, waste management and training pads, and pet containment; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; animal and household health and insect control products; live fish and products for fish, reptiles, and other aquarium-based pets, such as aquariums, furniture and lighting fixtures, pumps, filters, water conditioners, food, and supplements; and products for equine and livestock, as well as outdoor cushions.

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