Orchard Capital Management LLC Trims Stock Holdings in Central Garden & Pet (NASDAQ:CENTA)

Orchard Capital Management LLC trimmed its holdings in Central Garden & Pet (NASDAQ:CENTA) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,274 shares of the company’s stock after selling 545 shares during the quarter. Orchard Capital Management LLC owned approximately 0.06% of Central Garden & Pet worth $1,396,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Federated Hermes Inc. purchased a new position in Central Garden & Pet during the 2nd quarter worth $26,000. CWM LLC increased its holdings in Central Garden & Pet by 3,558.1% during the 2nd quarter. CWM LLC now owns 1,134 shares of the company’s stock worth $37,000 after purchasing an additional 1,103 shares during the period. Quest Partners LLC purchased a new position in Central Garden & Pet during the 2nd quarter worth $37,000. GAMMA Investing LLC increased its holdings in Central Garden & Pet by 61.3% during the 1st quarter. GAMMA Investing LLC now owns 1,366 shares of the company’s stock worth $50,000 after purchasing an additional 519 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its holdings in Central Garden & Pet by 37.4% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 1,650 shares of the company’s stock worth $61,000 after purchasing an additional 449 shares during the period. 50.82% of the stock is currently owned by hedge funds and other institutional investors.

Central Garden & Pet Stock Up 0.3 %

Shares of NASDAQ CENTA opened at $33.16 on Friday. 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 stock has a market capitalization of $2.24 billion, a PE ratio of 14.87 and a beta of 0.73. The stock’s fifty day simple moving average is $33.53 and its two-hundred day simple moving average is $35.02. Central Garden & Pet has a 12-month low of $27.88 and a 12-month high of $41.03.

Central Garden & Pet (NASDAQ:CENTA) last announced its earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. The firm had revenue of $996.35 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $1.40 EPS. As a group, analysts expect that Central Garden & Pet will post 2.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on CENTA. Canaccord Genuity Group upgraded Central Garden & Pet to a “strong-buy” rating in a report on Monday, July 1st. JPMorgan Chase & Co. dropped their target price on Central Garden & Pet from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Argus raised Central Garden & Pet to a “strong-buy” rating in a research report on Tuesday, May 28th. Finally, StockNews.com cut Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $42.00.

Insider Buying and Selling

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 transaction of $48,740.80. Following the transaction, the director now directly owns 40,743 shares in the company, valued at approximately $1,336,370.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Central Garden & Pet news, Chairman William E. Brown sold 60,000 shares of the business’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 sale, the chairman now owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value 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 disclosure for this sale can be found here. Insiders have sold a total of 63,986 shares of company stock worth $2,146,841 in the last ninety days. 20.28% of the stock is owned by insiders.

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.