Central Garden & Pet Co. (CENT) Reaches New 1-Year High at $24.61
Shares of Central Garden & Pet Co. (NASDAQ:CENT) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $24.61 and last traded at $24.58, with a volume of 122,358 shares trading hands. The stock had previously closed at $24.23.
CENT has been the subject of a number of research reports. SunTrust Banks Inc. upgraded Central Garden & Pet Co. from a “neutral” rating to a “buy” rating in a report on Thursday, June 16th. Zacks Investment Research upgraded Central Garden & Pet Co. from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a report on Monday, April 25th.
The company has a 50-day moving average price of $21.65 and a 200 day moving average price of $16.88. The firm has a market capitalization of $1.24 billion and a P/E ratio of 31.98.
Central Garden & Pet Co. (NASDAQ:CENT) last released its quarterly earnings data on Wednesday, May 4th. The company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.06. The business earned $541.20 million during the quarter, compared to analyst estimates of $528.25 million. During the same quarter in the previous year, the company posted $0.47 EPS. The firm’s revenue was up 8.8% on a year-over-year basis. On average, analysts forecast that Central Garden & Pet Co. will post $1.10 EPS for the current fiscal year.
In other news, major shareholder William E. Brown sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $18.44, for a total transaction of $553,200.00. Following the completion of the sale, the insider now owns 2,608,470 shares in the company, valued at approximately $48,100,186.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David N. Chichester sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $17.00, for a total transaction of $170,000.00. Following the sale, the director now owns 20,485 shares of the company’s stock, valued at approximately $348,245. The disclosure for this sale can be found here.
Several hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP increased its stake in shares of Central Garden & Pet Co. by 67.4% in the fourth quarter. GSA Capital Partners LLP now owns 200,074 shares of the company’s stock worth $2,705,000 after buying an additional 80,579 shares in the last quarter. Wells Fargo & Company MN boosted its position in Central Garden & Pet Co. by 9.0% in the fourth quarter. Wells Fargo & Company MN now owns 804,981 shares of the company’s stock worth $10,883,000 after buying an additional 66,507 shares during the last quarter. Finally, Rutabaga Capital Management LLC MA boosted its position in Central Garden & Pet Co. by 3.9% in the fourth quarter. Rutabaga Capital Management LLC MA now owns 1,402,306 shares of the company’s stock worth $18,959,000 after buying an additional 53,211 shares during the last quarter.
Central Garden & Pet Company is a marketer and producer of branded products, and distributor of third party products to pet, and lawn and garden supplies industries. The Company’s segments are Pet and Garden. Its Pet segment is engaged in the manufacturing, purchase, sale and delivery of internally and externally produced pet supplies, books and food to independent pet distributors, national and regional retail chains, grocery stores, mass merchants and bookstores.
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