Central Garden & Pet (NASDAQ:CENTA) Posts Earnings Results, Beats Estimates By $0.02 EPS

Central Garden & Pet (NASDAQ:CENTA) issued its quarterly earnings results on Monday. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02, MarketWatch Earnings reports. Central Garden & Pet had a return on equity of 9.59% and a net margin of 3.70%. During the same quarter last year, the business earned ($0.04) EPS.

Central Garden & Pet Trading Down 0.3 %

CENTA stock opened at $40.10 on Tuesday. Central Garden & Pet has a 1-year low of $33.77 and a 1-year high of $45.93. The firm has a market cap of $2.15 billion, a P/E ratio of 17.74 and a beta of 0.67. The business’s 50 day moving average is $40.23 and its 200-day moving average is $38.64. The company has a current ratio of 3.51, a quick ratio of 1.77 and a debt-to-equity ratio of 0.82.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CENTA. StockNews.com lowered Central Garden & Pet from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 10th. KeyCorp boosted their price target on Central Garden & Pet from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.33.

Insider Activity

In other Central Garden & Pet news, insider John D. Walker III sold 11,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $41.07, for a total transaction of $451,770.00. Following the transaction, the insider now owns 70,394 shares of the company’s stock, valued at approximately $2,891,081.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Central Garden & Pet news, insider John D. Walker III sold 11,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $41.07, for a total transaction of $451,770.00. Following the transaction, the insider now owns 70,394 shares of the company’s stock, valued at approximately $2,891,081.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John Ranelli sold 2,440 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $40.87, for a total transaction of $99,722.80. Following the sale, the director now owns 2,946 shares of the company’s stock, valued at approximately $120,403.02. The disclosure for this sale can be found here. Corporate insiders own 20.28% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

A number of large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in shares of Central Garden & Pet by 44.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,340 shares of the company’s stock worth $503,000 after buying an additional 3,801 shares during the last quarter. Natixis Advisors L.P. acquired a new position in shares of Central Garden & Pet during the 1st quarter worth about $455,000. MetLife Investment Management LLC lifted its stake in Central Garden & Pet by 58.2% in the 1st quarter. MetLife Investment Management LLC now owns 21,193 shares of the company’s stock valued at $864,000 after purchasing an additional 7,797 shares during the last quarter. Rhumbline Advisers lifted its stake in Central Garden & Pet by 1.1% in the 1st quarter. Rhumbline Advisers now owns 113,324 shares of the company’s stock valued at $4,621,000 after purchasing an additional 1,242 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Central Garden & Pet by 11.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,296 shares of the company’s stock valued at $1,480,000 after purchasing an additional 3,823 shares during the last quarter. Institutional investors own 67.38% 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 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 equine and livestock, as well as outdoor cushions.