Central Garden & Pet (NASDAQ:CENT) Short Interest Up 8.8% in November

Central Garden & Pet (NASDAQ:CENT) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 1,600,000 shares, an increase of 8.8% from the October 31st total of 1,470,000 shares. Based on an average daily volume of 119,600 shares, the short-interest ratio is presently 13.4 days. Currently, 16.9% of the company’s shares are short sold.

Institutional Investors Weigh In On Central Garden & Pet

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Central Garden & Pet by 32.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,862 shares of the company’s stock valued at $1,793,000 after buying an additional 10,237 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Central Garden & Pet by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company’s stock valued at $3,345,000 after acquiring an additional 1,873 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Central Garden & Pet by 6.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company’s stock worth $34,085,000 after purchasing an additional 51,454 shares during the period. Versor Investments LP bought a new position in shares of Central Garden & Pet in the 2nd quarter worth $270,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Central Garden & Pet in the 2nd quarter valued at $295,000. 16.13% of the stock is owned by institutional investors.

Central Garden & Pet Trading Down 0.0 %

Shares of Central Garden & Pet stock traded down $0.02 on Wednesday, hitting $40.25. 45,357 shares of the company’s stock traded hands, compared to its average volume of 115,619. The company has a fifty day moving average of $36.06 and a two-hundred day moving average of $38.37. Central Garden & Pet has a one year low of $32.17 and a one year high of $47.48. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 24.91 and a beta of 0.81. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings data on Monday, November 25th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.04. Central Garden & Pet had a net margin of 3.37% and a return on equity of 9.31%. The company had revenue of $669.49 million during the quarter, compared to the consensus estimate of $707.83 million. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. As a group, sell-side analysts expect that Central Garden & Pet will post 2.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on CENT shares. Canaccord Genuity Group cut their target price on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Truist Financial cut their price objective on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $46.75.

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.