Central Garden & Pet Co. (CENT) Reaches New 1-Year High at $27.80
Central Garden & Pet Co. (NASDAQ:CENT)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $27.80 and last traded at $27.34, with a volume of 247,391 shares trading hands. The stock had previously closed at $26.71.
Several brokerages recently issued reports on CENT. Zacks Investment Research raised shares of Central Garden & Pet Co. from a “hold” rating to a “strong-buy” rating and set a $30.00 price target for the company in a report on Thursday, August 4th. SunTrust Banks Inc. upgraded shares of Central Garden & Pet Co. from a “neutral” rating to a “buy” rating in a research report on Thursday, June 16th.
The company has a market capitalization of $1.40 billion and a PE ratio of 30.33. The firm’s 50 day moving average is $24.16 and its 200-day moving average is $18.31.
Central Garden & Pet Co. (NASDAQ:CENT) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.05. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The company earned $514.54 million during the quarter, compared to analyst estimates of $490.85 million. Central Garden & Pet Co.’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts forecast that Central Garden & Pet Co. will post $1.20 earnings per share for the current fiscal year.
In related news, insider Howard Machek sold 9,500 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $25.05, for a total value of $237,975.00. Following the transaction, the insider now directly owns 31,021 shares in the company, valued at $777,076.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder William E. Brown sold 20,000 shares of the company’s stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $18.41, for a total transaction of $368,200.00. Following the completion of the transaction, the insider now owns 2,561,470 shares in the company, valued at $47,156,662.70. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Central Garden & Pet Co. stock. Wells Fargo & Company MN raised its stake in shares of Central Garden & Pet Co. (NASDAQ:CENT) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 804,981 shares of the company’s stock after buying an additional 66,507 shares during the period. Wells Fargo & Company MN owned approximately 1.61% of Central Garden & Pet Co. worth $10,883,000 as of its most recent SEC filing.
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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