Bank of New York Mellon Corp Has $3.35 Million Stock Position in Central Garden & Pet (NASDAQ:CENT)

Bank of New York Mellon Corp lifted its stake in Central Garden & Pet (NASDAQ:CENT) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,877 shares of the company’s stock after purchasing an additional 1,873 shares during the period. Bank of New York Mellon Corp owned 0.13% of Central Garden & Pet worth $3,345,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CENT. EntryPoint Capital LLC lifted its stake in Central Garden & Pet by 909.2% in the first quarter. EntryPoint Capital LLC now owns 4,269 shares of the company’s stock valued at $183,000 after buying an additional 3,846 shares during the period. BNP Paribas Financial Markets raised its position in shares of Central Garden & Pet by 112.4% in the 1st quarter. BNP Paribas Financial Markets now owns 6,169 shares of the company’s stock valued at $264,000 after acquiring an additional 3,265 shares during the period. SageView Advisory Group LLC bought a new position in Central Garden & Pet during the 1st quarter worth approximately $301,000. Inspire Investing LLC grew its holdings in Central Garden & Pet by 9.3% during the first quarter. Inspire Investing LLC now owns 8,386 shares of the company’s stock valued at $359,000 after purchasing an additional 712 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Central Garden & Pet by 32.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,862 shares of the company’s stock valued at $1,793,000 after purchasing an additional 10,237 shares in the last quarter. 16.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CENT. Argus raised shares of Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, May 28th. Canaccord Genuity Group dropped their price objective on Central Garden & Pet from $52.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, July 1st. Finally, Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Central Garden & Pet has an average rating of “Buy” and an average price target of $52.75.

Central Garden & Pet Stock Up 2.4 %

Shares of CENT stock opened at $38.38 on Friday. Central Garden & Pet has a 12-month low of $30.75 and a 12-month high of $47.48. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75. The firm has a fifty day moving average of $38.83 and a 200-day moving average of $40.75. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 17.21 and a beta of 0.75.

Central Garden & Pet (NASDAQ:CENT) last released its earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.11. The firm had revenue of $996.35 million during the quarter, compared to analysts’ expectations of $1 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. The company’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. As a group, equities research analysts predict that Central Garden & Pet will post 2.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Central Garden & Pet

In other news, Chairman William E. Brown sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the completion of the transaction, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at approximately $37,758,426.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Brooks Pennington III sold 1,486 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total transaction of $48,740.80. Following the sale, the director now owns 40,743 shares in the company, valued at $1,336,370.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman William E. Brown sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $33.54, for a total value of $2,012,400.00. Following the completion of the transaction, the chairman now owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,986 shares of company stock worth $2,146,841. Corporate insiders own 9.53% of the company’s stock.

About Central Garden & Pet

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.