Central Garden & Pet (NASDAQ:CENT) Sees Large Volume Increase – Here’s Why

Central Garden & Pet (NASDAQ:CENT) shares saw unusually-strong trading volume on Monday . Approximately 356,210 shares traded hands during trading, an increase of 171% from the previous session’s volume of 131,351 shares.The stock last traded at $35.78 and had previously closed at $33.67.

Analyst Ratings Changes

Several analysts have recently commented on CENT shares. Canaccord Genuity Group decreased their target price on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Argus lowered Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Central Garden & Pet currently has a consensus rating of “Buy” and an average target price of $45.00.

Central Garden & Pet Stock Up 2.1 %

The business’s 50 day simple moving average is $36.71 and its 200-day simple moving average is $37.08. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.97 and a current ratio of 3.47. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 19.34 and a beta of 0.73.

Central Garden & Pet (NASDAQ:CENT) last issued its earnings results on Wednesday, February 5th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.24. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. Sell-side analysts expect that Central Garden & Pet will post 2.38 earnings per share for the current year.

Insider Transactions at Central Garden & Pet

In other Central Garden & Pet news, insider John D. Walker III sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $32.86, for a total transaction of $328,600.00. Following the completion of the transaction, the insider now owns 67,111 shares in the company, valued at $2,205,267.46. This trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.19% of the stock is owned by corporate insiders.

Institutional Trading of Central Garden & Pet

Several large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Central Garden & Pet by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 35,228 shares of the company’s stock valued at $1,285,000 after purchasing an additional 14,964 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Central Garden & Pet in the fourth quarter valued at about $682,000. Amundi boosted its holdings in Central Garden & Pet by 193.8% during the fourth quarter. Amundi now owns 4,201 shares of the company’s stock worth $151,000 after buying an additional 2,771 shares during the last quarter. Barclays PLC grew its holdings in Central Garden & Pet by 51.4% during the third quarter. Barclays PLC now owns 34,944 shares of the company’s stock valued at $1,275,000 after purchasing an additional 11,865 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Central Garden & Pet by 4.2% in the 4th quarter. Principal Financial Group Inc. now owns 53,355 shares of the company’s stock valued at $2,070,000 after buying an additional 2,141 shares in the last quarter. 16.13% of the stock is owned by institutional investors.

About Central Garden & Pet

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish and small animals as well as outdoor cushions.