Algert Global LLC Raises Stake in Central Garden & Pet (NASDAQ:CENTA)

Algert Global LLC boosted its holdings in Central Garden & Pet (NASDAQ:CENTA) by 85.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,863 shares of the company’s stock after purchasing an additional 39,460 shares during the quarter. Algert Global LLC’s holdings in Central Garden & Pet were worth $2,696,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quarry LP raised its position in shares of Central Garden & Pet by 503.2% in the 2nd quarter. Quarry LP now owns 754 shares of the company’s stock worth $25,000 after purchasing an additional 629 shares during the last quarter. Federated Hermes Inc. bought a new stake in Central Garden & Pet during the 2nd quarter valued at about $26,000. CWM LLC raised its holdings in Central Garden & Pet by 3,558.1% in the second quarter. CWM LLC now owns 1,134 shares of the company’s stock worth $37,000 after buying an additional 1,103 shares during the last quarter. Quest Partners LLC purchased a new position in Central Garden & Pet in the second quarter worth about $37,000. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of Central Garden & Pet by 37.4% in the first quarter. Public Employees Retirement Association of Colorado now owns 1,650 shares of the company’s stock worth $61,000 after buying an additional 449 shares in the last quarter. Hedge funds and other institutional investors own 50.82% of the company’s stock.

Central Garden & Pet Stock Performance

Shares of CENTA opened at $33.76 on Wednesday. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75. Central Garden & Pet has a 52 week low of $27.70 and a 52 week high of $41.03. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 15.69 and a beta of 0.73. The business has a 50-day simple moving average of $30.80 and a two-hundred day simple moving average of $33.27.

Insider Transactions at Central Garden & Pet

In related news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the sale, the chairman now owns 1,125,773 shares of the company’s stock, valued at approximately $37,758,426.42. This trade represents a 5.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 20.28% of the company’s stock.

Analysts Set New Price Targets

CENTA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, October 11th. StockNews.com downgraded Central Garden & Pet from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Central Garden & Pet currently has a consensus rating of “Buy” and a consensus target price of $41.33.

About Central Garden & Pet

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.