Central Garden & Pet (NASDAQ:CENTA) Sees Significant Increase in Short Interest

Central Garden & Pet (NASDAQ:CENTA) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 827,600 shares, an increase of 16.5% from the October 15th total of 710,400 shares. Based on an average daily volume of 311,300 shares, the days-to-cover ratio is currently 2.7 days.

Insider Activity at Central Garden & Pet

In other Central Garden & Pet news, Director John Ranelli sold 2,500 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $34.28, for a total value of $85,700.00. Following the transaction, the director now directly owns 822 shares of the company’s stock, valued at approximately $28,178.16. The trade was a 75.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman William E. Brown sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $33.54, for a total value of $2,012,400.00. Following the transaction, the chairman now owns 1,125,773 shares in the company, valued at $37,758,426.42. The trade was a 5.06 % decrease in their position. The disclosure for this sale can be found here. Insiders own 20.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CENTA. BNP Paribas Financial Markets grew its holdings in shares of Central Garden & Pet by 39.5% during the first quarter. BNP Paribas Financial Markets now owns 30,582 shares of the company’s stock valued at $1,129,000 after purchasing an additional 8,658 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Central Garden & Pet in the first quarter valued at $208,000. SG Americas Securities LLC acquired a new position in shares of Central Garden & Pet during the first quarter valued at $174,000. Swiss National Bank grew its position in shares of Central Garden & Pet by 32.3% during the first quarter. Swiss National Bank now owns 106,937 shares of the company’s stock worth $3,948,000 after acquiring an additional 26,137 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Central Garden & Pet by 53.2% in the 1st quarter. Sei Investments Co. now owns 34,773 shares of the company’s stock worth $1,284,000 after acquiring an additional 12,068 shares during the period. Institutional investors and hedge funds own 50.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CENTA shares. JPMorgan Chase & Co. cut their price objective on Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. StockNews.com cut Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $41.33.

Central Garden & Pet Stock Up 0.3 %

CENTA traded up $0.09 on Friday, reaching $31.63. The company’s stock had a trading volume of 222,744 shares, compared to its average volume of 277,515. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. Central Garden & Pet has a 1 year low of $27.70 and a 1 year high of $41.03. The business’s 50 day moving average is $30.81 and its 200 day moving average is $33.47. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 14.59 and a beta of 0.73.

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.