Central Garden & Pet (NASDAQ:CENT) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its holdings in Central Garden & Pet (NASDAQ:CENT) by 2.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 220,687 shares of the company’s stock after selling 5,124 shares during the quarter. Renaissance Technologies LLC owned about 0.33% of Central Garden & Pet worth $8,496,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Central Garden & Pet by 6.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company’s stock valued at $34,085,000 after buying an additional 51,454 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Central Garden & Pet by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 777,297 shares of the company’s stock valued at $29,926,000 after acquiring an additional 5,571 shares during the last quarter. Orchard Capital Management LLC boosted its stake in Central Garden & Pet by 5.6% in the fourth quarter. Orchard Capital Management LLC now owns 169,107 shares of the company’s stock valued at $8,474,000 after acquiring an additional 8,914 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Central Garden & Pet by 24.5% during the second quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock worth $6,262,000 after purchasing an additional 32,009 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Central Garden & Pet by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company’s stock worth $3,345,000 after purchasing an additional 1,873 shares in the last quarter. 16.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity at Central Garden & Pet

In related news, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were 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 of the company’s stock, valued at $1,336,370.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Brooks Pennington III sold 1,486 shares of Central Garden & Pet stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total transaction of $48,740.80. Following the completion of the transaction, the director now directly owns 40,743 shares of the company’s stock, valued at $1,336,370.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Ranelli sold 2,500 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $34.28, for a total value of $85,700.00. Following the completion of the sale, the director now directly owns 822 shares in the company, valued at approximately $28,178.16. The disclosure for this sale can be found here. Insiders sold 63,986 shares of company stock worth $2,146,841 over the last 90 days. Company insiders own 9.53% of the company’s stock.

Central Garden & Pet Stock Performance

NASDAQ CENT opened at $37.08 on Wednesday. The company has a current ratio of 3.66, a quick ratio of 2.16 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average is $38.83 and its two-hundred day moving average is $40.51. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 16.63 and a beta of 0.75. Central Garden & Pet has a 12-month low of $30.75 and a 12-month high of $47.48.

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

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.