Hsbc Holdings PLC Takes Position in Central Garden & Pet (NASDAQ:CENT)

Hsbc Holdings PLC purchased a new position in shares of Central Garden & Pet (NASDAQ:CENT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,466 shares of the company’s stock, valued at approximately $207,000.

A number of other hedge funds have also bought and sold shares of the company. Inspire Investing LLC lifted its stake in Central Garden & Pet by 9.3% during the first quarter. Inspire Investing LLC now owns 8,386 shares of the company’s stock worth $359,000 after purchasing an additional 712 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Central Garden & Pet in the 2nd quarter worth about $51,000. Bank of New York Mellon Corp boosted its holdings in shares of Central Garden & Pet by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company’s stock valued at $3,345,000 after buying an additional 1,873 shares during the period. BNP Paribas Financial Markets grew its position in shares of Central Garden & Pet by 112.4% during the 1st quarter. BNP Paribas Financial Markets now owns 6,169 shares of the company’s stock valued at $264,000 after buying an additional 3,265 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Central Garden & Pet by 6.8% during the first quarter. Principal Financial Group Inc. now owns 53,039 shares of the company’s stock worth $2,272,000 after acquiring an additional 3,397 shares during the period. 16.13% of the stock is currently owned by institutional investors and hedge funds.

Central Garden & Pet Price Performance

Shares of NASDAQ CENT opened at $33.69 on Friday. The firm’s 50-day simple moving average is $38.24 and its 200 day simple moving average is $40.17. The stock has a market cap of $2.27 billion, a P/E ratio of 15.11 and a beta of 0.75. 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 has a fifty-two week low of $30.75 and a fifty-two week high of $47.48.

Central Garden & Pet (NASDAQ:CENT) last released its earnings results 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 during the quarter, compared to the consensus estimate of $1 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.40 earnings per share. Equities analysts expect that Central Garden & Pet will post 2.11 EPS for the current year.

Insiders Place Their Bets

In related news, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total value of $48,740.80. Following the sale, the director now directly owns 40,743 shares in the company, valued at $1,336,370.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of the business’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 approximately $1,336,370.40. The trade was a 0.00 % decrease in their position. 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 company’s stock in a transaction dated 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 sale, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,986 shares of company stock worth $2,146,841. 9.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on CENT. Canaccord Genuity Group reissued a “buy” rating and issued a $48.00 price target on shares of Central Garden & Pet in a report on Monday, September 30th. Canaccord Genuity Group raised shares of Central Garden & Pet to a “strong-buy” rating in a report 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. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $52.50.

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.