Central Garden & Pet (NASDAQ:CENTA) PT Lowered to $48.00

Central Garden & Pet (NASDAQ:CENTAGet Rating) had its target price trimmed by KeyCorp from $52.00 to $48.00 in a research report report published on Tuesday morning, Marketbeat Ratings reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently issued reports on CENTA. Truist Financial dropped their target price on shares of Central Garden & Pet from $65.00 to $60.00 and set a buy rating on the stock in a research note on Monday, August 8th. CJS Securities initiated coverage on shares of Central Garden & Pet in a report on Thursday, August 25th. They set an outperform rating and a $50.00 price objective for the company. StockNews.com cut shares of Central Garden & Pet from a buy rating to a hold rating in a report on Wednesday, October 19th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Central Garden & Pet from $45.00 to $37.00 and set a neutral rating for the company in a report on Thursday, October 13th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Central Garden & Pet has a consensus rating of Moderate Buy and an average price target of $49.50.

Central Garden & Pet Trading Down 8.8 %

Shares of NASDAQ CENTA opened at $38.24 on Tuesday. The firm’s 50 day moving average price is $37.25 and its 200-day moving average price is $39.31. The company has a market cap of $2.08 billion, a PE ratio of 13.86 and a beta of 0.64. Central Garden & Pet has a 52-week low of $33.69 and a 52-week high of $49.83. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.45 and a current ratio of 3.16.

Insider Activity

In other Central Garden & Pet news, insider John D. Walker III sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $40.56, for a total transaction of $202,800.00. Following the completion of the sale, the insider now directly owns 88,116 shares of the company’s stock, valued at $3,573,984.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 20.28% of the stock is owned by corporate insiders.

Institutional Trading of Central Garden & Pet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CENTA. Victory Capital Management Inc. increased its holdings in Central Garden & Pet by 3,349.5% during the first quarter. Victory Capital Management Inc. now owns 866,660 shares of the company’s stock valued at $35,360,000 after buying an additional 841,536 shares during the last quarter. Polaris Capital Management LLC increased its holdings in Central Garden & Pet by 1,823.7% during the second quarter. Polaris Capital Management LLC now owns 438,613 shares of the company’s stock valued at $40,348,000 after buying an additional 415,813 shares during the last quarter. LSV Asset Management increased its holdings in Central Garden & Pet by 29.5% during the first quarter. LSV Asset Management now owns 861,221 shares of the company’s stock valued at $35,121,000 after buying an additional 196,177 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Central Garden & Pet by 27.9% during the first quarter. JPMorgan Chase & Co. now owns 594,668 shares of the company’s stock valued at $24,250,000 after buying an additional 129,812 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in Central Garden & Pet by 1.7% during the third quarter. BlackRock Inc. now owns 7,362,931 shares of the company’s stock valued at $251,517,000 after buying an additional 120,910 shares during the last quarter. 70.70% of the stock is owned by hedge funds and other institutional investors.

About Central Garden & Pet

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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.

Further Reading

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