Congress Asset Management Co. MA Trims Stock Holdings in Central Garden & Pet (NASDAQ:CENTA)

Congress Asset Management Co. MA cut its holdings in shares of Central Garden & Pet (NASDAQ:CENTA) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149,754 shares of the company’s stock after selling 4,477 shares during the period. Congress Asset Management Co. MA owned 0.22% of Central Garden & Pet worth $6,595,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in Central Garden & Pet by 3.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,693 shares of the company’s stock valued at $427,000 after acquiring an additional 341 shares during the last quarter. GHP Investment Advisors Inc. increased its holdings in shares of Central Garden & Pet by 1.0% in the fourth quarter. GHP Investment Advisors Inc. now owns 70,265 shares of the company’s stock valued at $3,094,000 after purchasing an additional 678 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Central Garden & Pet during the fourth quarter worth approximately $35,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of Central Garden & Pet by 6.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 14,199 shares of the company’s stock worth $569,000 after purchasing an additional 862 shares during the period. Finally, Swiss National Bank grew its position in Central Garden & Pet by 1.3% in the 3rd quarter. Swiss National Bank now owns 90,800 shares of the company’s stock valued at $3,640,000 after buying an additional 1,200 shares during the last quarter. 50.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on CENTA shares. Truist Financial upped their price objective on shares of Central Garden & Pet from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. StockNews.com upgraded shares of Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Monness Crespi & Hardt boosted their target price on Central Garden & Pet from $39.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Argus raised Central Garden & Pet to a “strong-buy” rating in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Central Garden & Pet currently has a consensus rating of “Buy” and a consensus price target of $41.75.

Insider Transactions at Central Garden & Pet

In other Central Garden & Pet news, Chairman William E. Brown sold 700,000 shares of Central Garden & Pet stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $36.25, for a total transaction of $25,375,000.00. Following the completion of the transaction, the chairman now owns 1,189,615 shares in the company, valued at $43,123,543.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Howard Machek sold 10,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $40.05, for a total transaction of $400,500.00. Following the sale, the chief accounting officer now owns 51,474 shares of the company’s stock, valued at $2,061,533.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman William E. Brown sold 700,000 shares of Central Garden & Pet stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $36.25, for a total value of $25,375,000.00. Following the sale, the chairman now owns 1,189,615 shares of the company’s stock, valued at approximately $43,123,543.75. The disclosure for this sale can be found here. Insiders sold 714,218 shares of company stock valued at $25,945,528 in the last 90 days. 20.28% of the stock is currently owned by insiders.

Central Garden & Pet Stock Down 3.9 %

CENTA stock opened at $32.57 on Monday. The company has a current ratio of 3.33, a quick ratio of 1.68 and a debt-to-equity ratio of 0.79. The company’s 50-day moving average price is $36.63 and its 200 day moving average price is $34.30. Central Garden & Pet has a 52 week low of $27.88 and a 52 week high of $41.03. The company has a market cap of $2.20 billion, a P/E ratio of 14.63 and a beta of 0.74.

Central Garden & Pet (NASDAQ:CENTA) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.83 by $0.16. Central Garden & Pet had a return on equity of 11.30% and a net margin of 4.49%. The business had revenue of $900.09 million for the quarter, compared to analyst estimates of $895.68 million. On average, research analysts expect that Central Garden & Pet will post 2.28 earnings per share for the current fiscal year.

Central Garden & Pet Company Profile

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.