GAMMA Investing LLC Boosts Stake in Central Garden & Pet (NASDAQ:CENTA)

GAMMA Investing LLC increased its position in Central Garden & Pet (NASDAQ:CENTA) by 61.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,366 shares of the company’s stock after purchasing an additional 519 shares during the quarter. GAMMA Investing LLC’s holdings in Central Garden & Pet were worth $50,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Central Garden & Pet during the fourth quarter valued at about $11,786,000. LSV Asset Management bought a new stake in Central Garden & Pet during the 4th quarter valued at approximately $5,409,000. Westwood Holdings Group Inc. lifted its holdings in Central Garden & Pet by 12.3% in the 4th quarter. Westwood Holdings Group Inc. now owns 800,109 shares of the company’s stock worth $35,237,000 after purchasing an additional 87,802 shares in the last quarter. Tudor Investment Corp Et Al boosted its stake in Central Garden & Pet by 1,092.6% in the 3rd quarter. Tudor Investment Corp Et Al now owns 71,666 shares of the company’s stock worth $2,873,000 after purchasing an additional 65,657 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in Central Garden & Pet by 5,772.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 50,445 shares of the company’s stock valued at $2,022,000 after buying an additional 49,586 shares in the last quarter. 50.82% of the stock is currently owned by institutional investors.

Central Garden & Pet Trading Down 0.9 %

Shares of CENTA stock opened at $33.33 on Tuesday. The company has a market cap of $2.25 billion, a PE ratio of 14.97 and a beta of 0.74. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.33 and a quick ratio of 1.68. The stock’s 50 day simple moving average is $36.43 and its two-hundred day simple moving average is $34.66. Central Garden & Pet has a 1 year low of $27.88 and a 1 year high of $41.03.

Central Garden & Pet (NASDAQ:CENTA) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $900.09 million during the quarter, compared to the consensus estimate of $895.68 million. Research analysts predict that Central Garden & Pet will post 2.28 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CENTA. Truist Financial upped their target price 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 Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Argus raised Central Garden & Pet to a “strong-buy” rating in a research note on Tuesday, May 28th. Finally, Monness Crespi & Hardt lifted their price objective on Central Garden & Pet from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. One 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $41.75.

Insiders Place Their Bets

In related news, insider John D. Walker III sold 4,218 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $40.31, for a total transaction of $170,027.58. Following the completion of the transaction, the insider now owns 85,063 shares in the company, valued at approximately $3,428,889.53. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider John D. Walker III sold 4,218 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $40.31, for a total value of $170,027.58. Following the transaction, the insider now owns 85,063 shares of the company’s stock, valued at approximately $3,428,889.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Howard Machek sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $40.05, for a total transaction of $400,500.00. Following the completion of the sale, the chief accounting officer now directly owns 51,474 shares of the company’s stock, valued at $2,061,533.70. The disclosure for this sale can be found here. Insiders sold a total of 714,218 shares of company stock valued at $25,945,528 over the last 90 days. Insiders own 20.28% of the company’s stock.

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.