Nicholas Lahanas Sells 30,000 Shares of Central Garden & Pet (NASDAQ:CENT) Stock

Central Garden & Pet (NASDAQ:CENT) CFO Nicholas Lahanas sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $39.98, for a total value of $1,199,400.00. Following the completion of the transaction, the chief financial officer now owns 87,528 shares of the company’s stock, valued at $3,499,369.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Central Garden & Pet Stock Up 1.6 %

Shares of NASDAQ:CENT opened at $47.33 on Thursday. The company has a 50-day moving average price of $41.97 and a 200 day moving average price of $36.99. The company has a current ratio of 3.33, a quick ratio of 1.68 and a debt-to-equity ratio of 0.79. Central Garden & Pet has a 12 month low of $28.58 and a 12 month high of $47.48. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 21.26 and a beta of 0.72.

Central Garden & Pet (NASDAQ:CENT) last announced its earnings results on Wednesday, May 8th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.16. Central Garden & Pet had a return on equity of 11.30% and a net margin of 4.49%. The firm had revenue of $900.10 million during the quarter, compared to analysts’ expectations of $888.74 million. During the same quarter in the previous year, the business earned $0.72 EPS. The company’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, equities research analysts predict that Central Garden & Pet will post 2.4 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Truist Financial upped their target price on shares of Central Garden & Pet from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Canaccord Genuity Group assumed coverage on Central Garden & Pet in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price objective for the company. Monness Crespi & Hardt upgraded Central Garden & Pet to a “strong-buy” rating in a research report on Thursday, May 9th. Canaccord Genuity Group initiated coverage on Central Garden & Pet in a report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target for the company. Finally, TheStreet raised Central Garden & Pet from a “c+” rating to a “b-” rating in a report on Friday, March 1st. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Central Garden & Pet has an average rating of “Buy” and an average price target of $54.67.

Institutional Investors Weigh In On Central Garden & Pet

Several hedge funds and other institutional investors have recently made changes to their positions in CENT. Banque Cantonale Vaudoise purchased a new stake in Central Garden & Pet in the 3rd quarter worth about $98,000. Assenagon Asset Management S.A. bought a new position in shares of Central Garden & Pet during the third quarter valued at approximately $148,000. EntryPoint Capital LLC raised its holdings in shares of Central Garden & Pet by 909.2% in the first quarter. EntryPoint Capital LLC now owns 4,269 shares of the company’s stock worth $183,000 after buying an additional 3,846 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of Central Garden & Pet during the 4th quarter worth approximately $241,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Central Garden & Pet by 28.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,850 shares of the company’s stock valued at $243,000 after acquiring an additional 1,070 shares during the period. Hedge funds and other institutional investors own 16.13% of the company’s stock.

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.