StockNews.com downgraded shares of Central Garden & Pet (NASDAQ:CENTA – Free Report) from a buy rating to a hold rating in a research note released on Wednesday morning.
Separately, TheStreet cut shares of Central Garden & Pet from a b rating to a c+ rating in a report on Tuesday, November 21st. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $44.33.
Check Out Our Latest Stock Analysis on CENTA
Central Garden & Pet Trading Down 0.8 %
Shares of CENTA opened at $44.04 on Wednesday. The firm’s 50-day moving average price is $40.13 and its 200-day moving average price is $39.59. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 18.74 and a beta of 0.60. The company has a current ratio of 3.73, a quick ratio of 1.90 and a debt-to-equity ratio of 0.82. Central Garden & Pet has a 1-year low of $33.77 and a 1-year high of $45.93.
Central Garden & Pet shares are set to split on the morning of Friday, January 5th. The 5-4 split was announced on Friday, January 5th. The newly minted shares will be distributed to shareholders after the market closes on Friday, January 5th.
Central Garden & Pet (NASDAQ:CENTA – Get Free Report) last issued its earnings results on Monday, November 20th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. The business had revenue of $750.15 million during the quarter, compared to analysts’ expectations of $731.81 million. Central Garden & Pet had a net margin of 3.80% and a return on equity of 9.93%. During the same period in the previous year, the company earned ($0.04) earnings per share. Sell-side analysts anticipate that Central Garden & Pet will post 2.53 EPS for the current year.
Central Garden & Pet Dividend Announcement
The company also recently declared a — dividend, which will be paid on Thursday, February 8th. Shareholders of record on Monday, January 8th will be given a $25.00 dividend. The ex-dividend date is Friday, February 9th.
Insiders Place Their Bets
In other news, insider John Edward Hanson sold 6,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $39.23, for a total value of $235,380.00. Following the transaction, the insider now owns 34,508 shares of the company’s stock, valued at $1,353,748.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director John Ranelli sold 2,800 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $36.22, for a total value of $101,416.00. Following the transaction, the director now owns 146 shares of the company’s stock, valued at $5,288.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Edward Hanson sold 6,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $39.23, for a total transaction of $235,380.00. Following the completion of the transaction, the insider now directly owns 34,508 shares in the company, valued at approximately $1,353,748.84. The disclosure for this sale can be found here. Company insiders own 20.28% of the company’s stock.
Institutional Investors Weigh In On Central Garden & Pet
A number of hedge funds have recently bought and sold shares of CENTA. Victory Capital Management Inc. raised its stake in Central Garden & Pet by 27.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,238,044 shares of the company’s stock valued at $80,122,000 after purchasing an additional 484,638 shares in the last quarter. Norges Bank purchased a new stake in shares of Central Garden & Pet in the fourth quarter valued at $13,824,000. Marshall Wace LLP purchased a new stake in shares of Central Garden & Pet in the second quarter valued at $4,788,000. CQS US LLC raised its stake in shares of Central Garden & Pet by 370.9% in the third quarter. CQS US LLC now owns 163,546 shares of the company’s stock valued at $6,557,000 after acquiring an additional 128,818 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Central Garden & Pet in the second quarter valued at $4,301,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.
About Central Garden & Pet
(Get Free Report)
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.
Further Reading
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