Central Garden & Pet (NASDAQ:CENTA) Stake Lowered by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. trimmed its holdings in Central Garden & Pet (NASDAQ:CENTA) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 849,509 shares of the company’s stock after selling 23,792 shares during the quarter. Westwood Holdings Group Inc. owned about 1.26% of Central Garden & Pet worth $28,059,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sei Investments Co. grew its holdings in Central Garden & Pet by 72.0% in the 2nd quarter. Sei Investments Co. now owns 59,812 shares of the company’s stock worth $1,976,000 after buying an additional 25,039 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Central Garden & Pet during the 2nd quarter valued at $96,000. Intech Investment Management LLC bought a new position in Central Garden & Pet during the 2nd quarter valued at $341,000. Hsbc Holdings PLC boosted its stake in Central Garden & Pet by 215.8% during the 2nd quarter. Hsbc Holdings PLC now owns 24,539 shares of the company’s stock valued at $803,000 after purchasing an additional 16,768 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Central Garden & Pet by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,653,753 shares of the company’s stock valued at $120,682,000 after purchasing an additional 29,780 shares in the last quarter. 50.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Argus raised Central Garden & Pet to a “strong-buy” rating in a research note on Tuesday, May 28th. StockNews.com lowered Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Monday, July 1st. Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. Finally, JPMorgan Chase & Co. decreased their price target on Central Garden & Pet from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $42.00.

Insider Activity

In other news, Chairman William E. Brown sold 60,000 shares of the company’s stock in a transaction 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 transaction, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Central Garden & Pet news, Director John Ranelli sold 2,500 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $34.28, for a total transaction of $85,700.00. Following the transaction, the director now directly owns 822 shares of the company’s stock, valued at $28,178.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman William E. Brown sold 60,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the transaction, the chairman now directly owns 1,125,773 shares in the company, valued at $37,758,426.42. The disclosure for this sale can be found here. Insiders sold 63,986 shares of company stock worth $2,146,841 over the last quarter. Corporate insiders own 20.28% of the company’s stock.

Central Garden & Pet Price Performance

CENTA opened at $32.83 on Friday. The stock has a fifty day moving average of $33.53 and a 200-day moving average of $34.97. The firm has a market capitalization of $2.21 billion, a P/E ratio of 14.72 and a beta of 0.73. Central Garden & Pet has a 12-month low of $27.88 and a 12-month high of $41.03. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75.

Central Garden & Pet (NASDAQ:CENTA) last released its earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $996.35 million during the quarter, compared to analyst estimates of $1.01 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. During the same quarter in the prior year, the company earned $1.40 earnings per share. Equities analysts forecast that Central Garden & Pet will post 2.11 EPS 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.