Short Interest in Central Garden & Pet (NASDAQ:CENT) Decreases By 40.0%

Central Garden & Pet (NASDAQ:CENT) saw a significant drop in short interest in March. As of March 31st, there was short interest totalling 1,320,000 shares, a drop of 40.0% from the March 15th total of 2,200,000 shares. Currently, 14.7% of the shares of the stock are short sold. Based on an average trading volume of 209,500 shares, the short-interest ratio is currently 6.3 days.

Central Garden & Pet Price Performance

Shares of NASDAQ CENT traded up $0.03 during midday trading on Thursday, hitting $34.97. The stock had a trading volume of 40,316 shares, compared to its average volume of 142,606. The company has a quick ratio of 1.97, a current ratio of 3.47 and a debt-to-equity ratio of 0.78. The stock has a 50 day simple moving average of $36.28 and a 200-day simple moving average of $36.86. The company has a market capitalization of $2.29 billion, a PE ratio of 19.21 and a beta of 0.80. Central Garden & Pet has a 1 year low of $32.17 and a 1 year high of $47.48.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.21 earnings per share 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%. On average, sell-side analysts expect that Central Garden & Pet will post 2.38 EPS for the current fiscal year.

Insider Activity at Central Garden & Pet

In related news, insider John D. Walker III sold 10,000 shares of Central Garden & Pet stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $32.86, for a total value of $328,600.00. Following the completion of the transaction, the insider now owns 67,111 shares in the company, valued at approximately $2,205,267.46. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Central Garden & Pet

A number of hedge funds have recently bought and sold shares of CENT. Vanguard Group Inc. boosted its holdings in shares of Central Garden & Pet by 9.3% during the 4th quarter. Vanguard Group Inc. now owns 1,474,313 shares of the company’s stock worth $57,203,000 after purchasing an additional 125,418 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Central Garden & Pet by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 796,917 shares of the company’s stock worth $30,920,000 after buying an additional 22,703 shares during the last quarter. Northern Trust Corp grew its holdings in Central Garden & Pet by 1.8% in the 4th quarter. Northern Trust Corp now owns 207,076 shares of the company’s stock valued at $8,035,000 after buying an additional 3,655 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Central Garden & Pet by 12.7% in the 4th quarter. American Century Companies Inc. now owns 200,091 shares of the company’s stock worth $7,764,000 after acquiring an additional 22,556 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Central Garden & Pet by 14.5% during the 4th quarter. Millennium Management LLC now owns 186,167 shares of the company’s stock worth $7,223,000 after acquiring an additional 23,622 shares during the period. Institutional investors and hedge funds own 16.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Argus lowered shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $45.00.

Central Garden & Pet Company Profile

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.