Central Garden & Pet (NASDAQ:CENT) Shares Gap Down to $49.82

Central Garden & Pet (NASDAQ:CENTGet Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $49.82, but opened at $43.70. Central Garden & Pet shares last traded at $42.99, with a volume of 152,803 shares changing hands.

Analyst Ratings Changes

A number of analysts have commented on the stock. TheStreet lowered shares of Central Garden & Pet from a “b” rating to a “c+” rating in a research note on Tuesday, November 21st. Truist Financial boosted their price target on shares of Central Garden & Pet from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday.

Read Our Latest Research Report on Central Garden & Pet

Central Garden & Pet Stock Up 6.2 %

The firm has a market cap of $2.23 billion, a P/E ratio of 16.44 and a beta of 0.66. The stock’s 50 day simple moving average is $34.66 and its 200 day simple moving average is $30.30. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.90 and a current ratio of 3.47.

Central Garden & Pet (NASDAQ:CENTGet Free Report) last posted its earnings results on Monday, November 20th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Central Garden & Pet had a net margin of 4.06% and a return on equity of 10.32%. The firm had revenue of $750.15 million during the quarter, compared to analyst estimates of $731.81 million. During the same quarter in the prior year, the business posted ($0.03) EPS. Research analysts anticipate that Central Garden & Pet will post 2.5 EPS for the current year.

Insider Transactions at Central Garden & Pet

In other news, insider John Edward Hanson sold 9,375 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $25.11, for a total value of $235,380.00. Following the completion of the sale, the insider now owns 53,918 shares in the company, valued at approximately $1,353,730.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider John Edward Hanson sold 9,375 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $25.11, for a total value of $235,380.00. Following the transaction, the insider now directly owns 53,918 shares of the company’s stock, valued at approximately $1,353,730.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Ranelli sold 4,375 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $23.18, for a total transaction of $101,416.00. Following the completion of the transaction, the director now directly owns 227 shares in the company, valued at $5,262.04. The disclosure for this sale can be found here. Company insiders own 9.53% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

A number of hedge funds and other institutional investors have recently made changes to their positions in CENT. Morgan Stanley boosted its holdings in shares of Central Garden & Pet by 520.1% in the 4th quarter. Morgan Stanley now owns 691,314 shares of the company’s stock worth $25,890,000 after buying an additional 579,838 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Central Garden & Pet by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 1,416,522 shares of the company’s stock worth $62,270,000 after buying an additional 54,065 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Central Garden & Pet by 471.9% during the first quarter. Goldman Sachs Group Inc. now owns 37,401 shares of the company’s stock valued at $1,644,000 after purchasing an additional 30,861 shares during the last quarter. ProShare Advisors LLC purchased a new stake in Central Garden & Pet during the second quarter valued at about $1,158,000. Finally, Tudor Investment Corp Et Al purchased a new stake in Central Garden & Pet during the third quarter valued at about $1,107,000. 17.74% of the stock is owned by hedge funds and other institutional investors.

Central Garden & Pet Company Profile

(Get Free Report)

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.

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