Inspire Investing LLC Has $410,000 Stake in Central Garden & Pet (NASDAQ:CENT)

Inspire Investing LLC increased its stake in Central Garden & Pet (NASDAQ:CENT) by 21.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,235 shares of the company’s stock after purchasing an additional 1,988 shares during the quarter. Inspire Investing LLC’s holdings in Central Garden & Pet were worth $410,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CENT. ProShare Advisors LLC lifted its stake in shares of Central Garden & Pet by 92.6% in the first quarter. ProShare Advisors LLC now owns 51,117 shares of the company’s stock worth $2,189,000 after buying an additional 24,575 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of 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 during the last quarter. American Century Companies Inc. grew its position in shares of Central Garden & Pet by 24.5% in the second quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock valued at $6,262,000 after purchasing an additional 32,009 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Central Garden & Pet by 2.2% in 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 during the period. Finally, Marshall Wace LLP lifted its position in shares of Central Garden & Pet by 748.5% during the 2nd quarter. Marshall Wace LLP now owns 84,000 shares of the company’s stock worth $3,234,000 after purchasing an additional 74,100 shares during the last quarter. Institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Stock Down 0.5 %

Shares of CENT stock opened at $35.06 on Friday. Central Garden & Pet has a one year low of $30.75 and a one year high of $47.48. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. The stock has a fifty day moving average price of $37.26 and a 200 day moving average price of $39.58. The stock has a market cap of $2.36 billion, a P/E ratio of 15.72 and a beta of 0.75.

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

Analysts Set New Price Targets

Several brokerages have commented on CENT. Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a research report on Monday, July 1st. Canaccord Genuity Group reiterated a “buy” rating and set a $48.00 target price on shares of Central Garden & Pet in a research note on Monday, September 30th. Finally, Truist Financial decreased their price target on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $47.50.

Insider Transactions at Central Garden & Pet

In related news, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total value 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet 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 in the company, valued at approximately $37,758,426.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total value of $48,740.80. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,986 shares of company stock valued at $2,146,841. Corporate insiders own 9.53% 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.