Central Garden & Pet Co (CENT) Director Sells $67,456.80 in Stock

Central Garden & Pet Co (NASDAQ:CENT) Director Brooks Pennington III sold 1,944 shares of the stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $34.70, for a total value of $67,456.80. Following the completion of the transaction, the director now owns 41,305 shares of the company’s stock, valued at approximately $1,433,283.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Central Garden & Pet stock traded up $0.50 during trading hours on Thursday, hitting $38.91. The stock had a trading volume of 106,561 shares, compared to its average volume of 139,661. The company has a debt-to-equity ratio of 0.73, a quick ratio of 3.71 and a current ratio of 5.72. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 20.37 and a beta of 0.09. Central Garden & Pet Co has a 1-year low of $29.81 and a 1-year high of $45.02.

Central Garden & Pet (NASDAQ:CENT) last posted its earnings results on Tuesday, November 27th. The company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The company had revenue of $502.30 million for the quarter, compared to analyst estimates of $510.26 million. Central Garden & Pet had a return on equity of 13.33% and a net margin of 5.58%. Central Garden & Pet’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. As a group, sell-side analysts forecast that Central Garden & Pet Co will post 1.85 EPS for the current fiscal year.

Several research firms have issued reports on CENT. KeyCorp began coverage on Central Garden & Pet in a research report on Thursday, October 11th. They issued an “overweight” rating for the company. BidaskClub upgraded Central Garden & Pet from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 9th. ValuEngine cut Central Garden & Pet from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. JPMorgan Chase & Co. began coverage on Central Garden & Pet in a research report on Tuesday, September 25th. They issued a “neutral” rating and a $37.00 price objective for the company. Finally, Zacks Investment Research upgraded Central Garden & Pet from a “strong sell” rating to a “hold” rating in a research report on Monday, October 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $44.17.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Central Garden & Pet by 308.1% in the third quarter. Vanguard Group Inc. now owns 5,537,598 shares of the company’s stock valued at $187,466,000 after purchasing an additional 4,180,716 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Central Garden & Pet by 1.6% during the third quarter. BlackRock Inc. now owns 1,598,764 shares of the company’s stock valued at $57,619,000 after acquiring an additional 25,919 shares during the last quarter. Vanguard Group Inc boosted its stake in shares of Central Garden & Pet by 0.3% during the third quarter. Vanguard Group Inc now owns 1,361,523 shares of the company’s stock valued at $49,070,000 after acquiring an additional 4,641 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Central Garden & Pet by 19.7% during the third quarter. Wells Fargo & Company MN now owns 1,100,725 shares of the company’s stock valued at $39,671,000 after acquiring an additional 180,781 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Central Garden & Pet by 107.9% during the second quarter. FMR LLC now owns 984,953 shares of the company’s stock valued at $42,826,000 after acquiring an additional 511,229 shares during the last quarter. 24.08% of the stock is currently owned by institutional investors.

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Central Garden & Pet Company Profile

Central Garden & Pet Company, together with its subsidiaries, produces and distributes 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 supplies products for dogs and cats, including edible bones, edible and non-edible chews, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and products for birds, small animals, and specialty pets, such as food, cages and habitats, toys, chews, and related accessories.

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