Brooks Pennington III Sells 1,644 Shares of Central Garden & Pet Co (NASDAQ:CENT) Stock

Central Garden & Pet Co (NASDAQ:CENT) Director Brooks Pennington III sold 1,644 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $26.24, for a total transaction of $43,138.56. Following the sale, the director now directly owns 42,023 shares of the company’s stock, valued at $1,102,683.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of CENT traded up $0.91 during mid-day trading on Friday, hitting $28.41. 50,339 shares of the company traded hands, compared to its average volume of 87,358. Central Garden & Pet Co has a 1-year low of $25.07 and a 1-year high of $44.22. The company has a debt-to-equity ratio of 0.69, a current ratio of 4.52 and a quick ratio of 2.79. The company has a market capitalization of $1.66 billion, a P/E ratio of 14.87 and a beta of -0.13. The firm’s 50 day simple moving average is $28.22.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.03. Central Garden & Pet had a net margin of 4.19% and a return on equity of 9.92%. The company had revenue of $673.70 million for the quarter, compared to the consensus estimate of $647.00 million. During the same quarter in the prior year, the company earned $0.86 EPS. Central Garden & Pet’s quarterly revenue was up 9.9% on a year-over-year basis. On average, sell-side analysts predict that Central Garden & Pet Co will post 1.8 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in CENT. Oppenheimer Asset Management Inc. purchased a new position in Central Garden & Pet in the 4th quarter valued at $29,000. Huntington National Bank lifted its holdings in Central Garden & Pet by 33.6% in the 1st quarter. Huntington National Bank now owns 1,543 shares of the company’s stock valued at $39,000 after purchasing an additional 388 shares in the last quarter. Mint Tower Capital Management B.V. acquired a new stake in shares of Central Garden & Pet in the 1st quarter worth $50,000. BNP Paribas Arbitrage SA increased its stake in shares of Central Garden & Pet by 611.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,405 shares of the company’s stock worth $61,000 after acquiring an additional 2,067 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Central Garden & Pet in the 4th quarter worth $100,000. Institutional investors and hedge funds own 22.69% of the company’s stock.

A number of brokerages have recently issued reports on CENT. BidaskClub raised shares of DENTSPLY SIRONA from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 13th. ValuEngine raised shares of ZTE CORP/ADR from a “hold” rating to a “buy” rating in a research note on Monday, April 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $40.50.

Central Garden & Pet Company Profile

Central Garden & Pet Company, together with its subsidiaries, produces and distributes 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 supplies products for dogs and cats, including edible bones, edible and non-edible chews, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and products for birds, small animals, and specialty pets, such as food, cages and habitats, toys, chews, and related accessories.

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