Olstein Capital Management L.P. reduced its holdings in Central Garden & Pet (NASDAQ:CENTA) by 3.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,000 shares of the company’s stock after selling 3,000 shares during the quarter. Olstein Capital Management L.P. owned 0.16% of Central Garden & Pet worth $4,566,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Central Garden & Pet in the first quarter worth about $56,000. Veriti Management LLC bought a new stake in shares of Central Garden & Pet in the fourth quarter worth about $65,000. FNY Investment Advisers LLC increased its holdings in shares of Central Garden & Pet by 39.8% in the first quarter. FNY Investment Advisers LLC now owns 1,720 shares of the company’s stock worth $89,000 after acquiring an additional 490 shares in the last quarter. Intersect Capital LLC bought a new stake in shares of Central Garden & Pet in the first quarter worth about $202,000. Finally, First Citizens Bank & Trust Co. bought a new stake in shares of Central Garden & Pet in the first quarter worth about $215,000. Institutional investors own 65.12% of the company’s stock.
Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Central Garden & Pet from $45.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, April 16th. Monness Crespi & Hardt increased their price objective on Central Garden & Pet from $47.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, April 13th. They noted that the move was a valuation call. KeyCorp increased their price objective on Central Garden & Pet from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, May 6th. Zacks Investment Research downgraded Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 25th. Finally, Truist Securities assumed coverage on Central Garden & Pet in a report on Monday, May 10th. They set a “buy” rating and a $65.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $59.00.
NASDAQ CENTA traded down $0.41 during trading hours on Wednesday, hitting $48.89. 314 shares of the company traded hands, compared to its average volume of 214,563. The stock has a 50-day simple moving average of $51.38. Central Garden & Pet has a twelve month low of $30.91 and a twelve month high of $55.82. The company has a quick ratio of 1.37, a current ratio of 2.62 and a debt-to-equity ratio of 0.84. The stock has a market cap of $2.72 billion, a PE ratio of 16.77 and a beta of 0.64.
Central Garden & Pet (NASDAQ:CENTA) last issued its quarterly earnings results on Wednesday, May 5th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.08 by $0.24. Central Garden & Pet had a return on equity of 15.85% and a net margin of 5.30%. The firm had revenue of $935.25 million during the quarter, compared to analysts’ expectations of $874.81 million. As a group, research analysts forecast that Central Garden & Pet will post 2.6 EPS for the current fiscal year.
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 provides pet supplies products, including edible chews and treats, dog chew toys, dog play toys, natural dog treats and chews, pet dental chews and solutions, dog training pads, pet containment, grooming supplies, and other accessories; products for birds, small animals, and specialty pets comprising food, cages and habitats, toys, chews, and related accessories; 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: What are the benefits of momentum investing?
Want to see what other hedge funds are holding CENTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Central Garden & Pet (NASDAQ:CENTA).