Orchard Capital Management LLC Lowers Position in Central Garden & Pet (NASDAQ:CENT)

Orchard Capital Management LLC lessened its stake in Central Garden & Pet (NASDAQ:CENT) by 1.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 169,107 shares of the company’s stock after selling 2,182 shares during the quarter. Central Garden & Pet makes up about 2.0% of Orchard Capital Management LLC’s investment portfolio, making the stock its 25th largest position. Orchard Capital Management LLC owned about 0.25% of Central Garden & Pet worth $6,511,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CENT. Allspring Global Investments Holdings LLC lifted its holdings in shares of Central Garden & Pet by 6.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company’s stock worth $34,085,000 after buying an additional 51,454 shares in the last quarter. American Century Companies Inc. increased its position in Central Garden & Pet by 24.5% in 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. ProShare Advisors LLC increased its position in 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 purchasing an additional 24,575 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in 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 worth $1,793,000 after purchasing an additional 10,237 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Central Garden & Pet in the second quarter worth $295,000. Hedge funds and other institutional investors own 16.13% of the company’s stock.

Insider Transactions at Central Garden & Pet

In other news, 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 value 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director John Ranelli sold 2,500 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $28,178.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 stock was sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the completion of the sale, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,986 shares of company stock worth $2,146,841. Insiders own 9.53% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Central Garden & Pet Trading Up 0.1 %

CENT stock opened at $38.38 on Friday. 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 twelve month low of $30.75 and a twelve month high of $47.48. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 17.20 and a beta of 0.75. The firm’s fifty day simple moving average is $38.89 and its two-hundred day simple moving average is $40.63.

Central Garden & Pet (NASDAQ:CENT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.11. The business had revenue of $996.35 million for the quarter, compared to analysts’ expectations of $1 billion. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.40 earnings per share. As a group, analysts anticipate that Central Garden & Pet will post 2.11 earnings per share 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.