Central Garden & Pet (NASDAQ:CENT) Short Interest Update

Central Garden & Pet (NASDAQ:CENT) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,180,000 shares, an increase of 8.3% from the May 31st total of 1,090,000 shares. Currently, 12.4% of the company’s shares are sold short. Based on an average daily volume of 102,200 shares, the short-interest ratio is presently 11.5 days.

Analysts Set New Price Targets

CENT has been the subject of several research reports. Canaccord Genuity Group decreased their price target on shares of Central Garden & Pet from $52.00 to $49.00 and set a “buy” rating for the company in a research note on Monday. Monness Crespi & Hardt raised shares of Central Garden & Pet to a “strong-buy” rating in a research note on Thursday, May 9th. Argus raised shares of Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, May 28th. Finally, Canaccord Genuity Group began coverage on shares of Central Garden & Pet in a research note on Tuesday, March 12th. They issued a “buy” rating and a $52.00 target price for the company. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $52.75.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, insider John D. Walker III sold 4,218 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $40.31, for a total transaction of $170,027.58. Following the transaction, the insider now directly owns 85,063 shares in the company, valued at approximately $3,428,889.53. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Central Garden & Pet news, Chairman William E. Brown sold 700,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $36.25, for a total transaction of $25,375,000.00. Following the sale, the chairman now directly owns 1,189,615 shares in the company, valued at approximately $43,123,543.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John D. Walker III sold 4,218 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $40.31, for a total transaction of $170,027.58. Following the sale, the insider now owns 85,063 shares in the company, valued at $3,428,889.53. The disclosure for this sale can be found here. In the last three months, insiders have sold 744,218 shares of company stock worth $27,144,928. Company insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. EntryPoint Capital LLC grew its position in Central Garden & Pet by 909.2% in the first quarter. EntryPoint Capital LLC now owns 4,269 shares of the company’s stock valued at $183,000 after acquiring an additional 3,846 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Central Garden & Pet in the fourth quarter valued at about $241,000. Nisa Investment Advisors LLC grew its position in Central Garden & Pet by 28.3% in the fourth 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 last quarter. New York State Teachers Retirement System grew its holdings in shares of Central Garden & Pet by 21.8% during the fourth quarter. New York State Teachers Retirement System now owns 5,137 shares of the company’s stock worth $257,000 after purchasing an additional 919 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Central Garden & Pet by 112.4% during the first quarter. BNP Paribas Financial Markets now owns 6,169 shares of the company’s stock worth $264,000 after purchasing an additional 3,265 shares during the last quarter. Institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Stock Performance

CENT stock traded up $0.27 during midday trading on Tuesday, reaching $39.11. 60,042 shares of the company were exchanged, compared to its average volume of 115,319. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.33 and a quick ratio of 1.68. The business has a 50-day moving average price of $42.19 and a two-hundred day moving average price of $40.29. Central Garden & Pet has a one year low of $29.73 and a one year high of $47.48. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 17.42 and a beta of 0.78.

Central Garden & Pet (NASDAQ:CENT) last posted its earnings results on Wednesday, May 8th. The company reported $0.99 earnings per share 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 company had revenue of $900.10 million during the quarter, compared to the consensus estimate of $888.74 million. During the same quarter last year, the firm earned $0.72 earnings per share. The company’s revenue was down 1.0% on a year-over-year basis. Equities research analysts forecast that Central Garden & Pet will post 2.28 EPS for the current year.

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.