Bank of New York Mellon Corp Grows Position in Central Garden & Pet (NASDAQ:CENT)

Bank of New York Mellon Corp increased its stake in Central Garden & Pet (NASDAQ:CENT) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,883 shares of the company’s stock after purchasing an additional 2,129 shares during the quarter. Bank of New York Mellon Corp owned about 0.11% of Central Garden & Pet worth $2,867,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc raised its holdings in shares of Central Garden & Pet by 693.6% in the 4th quarter. Versant Capital Management Inc now owns 1,246 shares of the company’s stock valued at $48,000 after acquiring an additional 1,089 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of Central Garden & Pet by 23.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company’s stock worth $77,000 after purchasing an additional 395 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Central Garden & Pet by 29.0% during the third quarter. Franklin Resources Inc. now owns 4,521 shares of the company’s stock worth $157,000 after acquiring an additional 1,016 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Central Garden & Pet during the third quarter valued at about $258,000. Finally, GSA Capital Partners LLP bought a new stake in Central Garden & Pet during the 3rd quarter valued at $272,000. Hedge funds and other institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Stock Performance

CENT opened at $36.34 on Friday. Central Garden & Pet has a 12-month low of $32.17 and a 12-month high of $47.48. The company’s 50 day moving average is $36.78 and its 200 day moving average is $37.20. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 19.97 and a beta of 0.73. The company has a current ratio of 3.47, a quick ratio of 1.97 and a debt-to-equity ratio of 0.78.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.24. Central Garden & Pet had a net margin of 3.77% and a return on equity of 10.08%. On average, equities research analysts predict that Central Garden & Pet will post 2.38 EPS for the current year.

Insiders Place Their Bets

In other Central Garden & Pet news, insider John D. Walker III sold 10,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $32.86, for a total transaction of $328,600.00. Following the completion of the transaction, the insider now owns 67,111 shares in the company, valued at $2,205,267.46. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CENT. Argus downgraded shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Canaccord Genuity Group decreased their price objective on shares of Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $45.00.

About Central Garden & Pet

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish and small animals as well as outdoor cushions.