Central Garden & Pet (NASDAQ:CENTA – Get Rating) – KeyCorp reduced their FY2023 earnings estimates for shares of Central Garden & Pet in a research report issued to clients and investors on Wednesday, August 3rd. KeyCorp analyst B. Thomas now expects that the company will post earnings of $2.80 per share for the year, down from their previous forecast of $3.00. KeyCorp has a “Overweight” rating and a $52.00 price objective on the stock. The consensus estimate for Central Garden & Pet’s current full-year earnings is $2.77 per share.
Central Garden & Pet (NASDAQ:CENTA – Get Rating) last posted its earnings results on Wednesday, May 4th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.09. The company had revenue of $954.37 million for the quarter, compared to analyst estimates of $935.14 million. Central Garden & Pet had a net margin of 4.48% and a return on equity of 12.10%.
Central Garden & Pet Price Performance
Central Garden & Pet stock opened at $41.51 on Friday. The company’s 50 day simple moving average is $40.63 and its 200-day simple moving average is $41.55. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 15.04 and a beta of 0.55. Central Garden & Pet has a 1 year low of $37.56 and a 1 year high of $52.04. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.29 and a current ratio of 2.85.
Institutional Investors Weigh In On Central Garden & Pet
Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC purchased a new stake in shares of Central Garden & Pet in the 2nd quarter valued at approximately $27,000. Advisor Group Holdings Inc. increased its position in shares of Central Garden & Pet by 49.7% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,726 shares of the company’s stock valued at $82,000 after purchasing an additional 573 shares during the last quarter. KBC Group NV purchased a new stake in shares of Central Garden & Pet in the 1st quarter valued at approximately $145,000. Profund Advisors LLC purchased a new stake in shares of Central Garden & Pet in the 4th quarter valued at approximately $215,000. Finally, Captrust Financial Advisors boosted its holdings in shares of Central Garden & Pet by 19.0% in the 1st quarter. Captrust Financial Advisors now owns 4,545 shares of the company’s stock valued at $185,000 after buying an additional 725 shares in the last quarter. 68.74% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CFO Nicholas Lahanas sold 7,306 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $41.78, for a total transaction of $305,244.68. Following the sale, the chief financial officer now directly owns 113,520 shares of the company’s stock, valued at approximately $4,742,865.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. 20.28% of the stock is owned by insiders.
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 grooming products, waste management and training pads, and pet containment; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; animal and household health and insect control products; live fish and products for fish, reptiles, and other aquarium-based pets, such as aquariums, furniture and lighting fixtures, pumps, filters, water conditioners, food, and supplements; and products for horses and livestock, as well as outdoor cushions and pillows.
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