Vanguard Group Inc. raised its position in Central Garden & Pet Company (NASDAQ:CENT) by 8.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,322,444 shares of the company’s stock after buying an additional 106,439 shares during the period. Vanguard Group Inc.’s holdings in Central Garden & Pet were worth $49,022,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wells Fargo & Company MN boosted its stake in Central Garden & Pet by 7.6% in the first quarter. Wells Fargo & Company MN now owns 838,948 shares of the company’s stock worth $31,099,000 after buying an additional 59,091 shares during the period. Teachers Advisors LLC boosted its stake in Central Garden & Pet by 9.9% in the fourth quarter. Teachers Advisors LLC now owns 248,203 shares of the company’s stock worth $8,213,000 after buying an additional 22,292 shares during the period. TIAA CREF Investment Management LLC boosted its stake in Central Garden & Pet by 1.4% in the first quarter. TIAA CREF Investment Management LLC now owns 210,618 shares of the company’s stock worth $7,808,000 after buying an additional 2,829 shares during the period. State Street Corp boosted its stake in Central Garden & Pet by 5.4% in the fourth quarter. State Street Corp now owns 188,769 shares of the company’s stock worth $6,245,000 after buying an additional 9,753 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Central Garden & Pet by 12.4% in the first quarter. Bank of New York Mellon Corp now owns 168,950 shares of the company’s stock worth $6,261,000 after buying an additional 18,644 shares during the period. 21.19% of the stock is currently owned by institutional investors.

Central Garden & Pet Company (CENT) traded down 1.01% during trading on Friday, reaching $34.43. 8,631 shares of the company’s stock traded hands. The firm’s 50 day moving average is $32.63 and its 200-day moving average is $34.00. Central Garden & Pet Company has a 12 month low of $22.97 and a 12 month high of $39.33. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 25.97 and a beta of 0.12.

Central Garden & Pet (NASDAQ:CENT) last issued its earnings results on Wednesday, August 2nd. The company reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.11. Central Garden & Pet had a net margin of 3.49% and a return on equity of 13.66%. The company had revenue of $574.59 million for the quarter, compared to the consensus estimate of $544.26 million. During the same quarter in the previous year, the company earned $0.48 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Analysts expect that Central Garden & Pet Company will post $1.50 EPS for the current fiscal year.

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CENT has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Monday, May 8th. BidaskClub raised shares of Central Garden & Pet from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Argus initiated coverage on shares of Central Garden & Pet in a report on Wednesday, April 19th. They issued a “buy” rating and a $44.00 price objective on the stock. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Central Garden & Pet in a report on Tuesday, June 20th. Finally, Sidoti raised shares of Central Garden & Pet from a “neutral” rating to a “buy” rating in a report on Monday, June 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $39.00.

In related news, Director John Ranelli sold 6,825 shares of Central Garden & Pet stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $32.00, for a total value of $218,400.00. Following the completion of the transaction, the director now directly owns 47,489 shares of the company’s stock, valued at $1,519,648. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael A. Reed sold 15,016 shares of Central Garden & Pet stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $34.31, for a total value of $515,198.96. Following the completion of the transaction, the insider now directly owns 135,008 shares of the company’s stock, valued at $4,632,124.48. The disclosure for this sale can be found here. Insiders sold a total of 79,091 shares of company stock worth $2,506,786 in the last 90 days. 11.60% of the stock is owned by corporate insiders.

About Central Garden & Pet

Central Garden & Pet Company is a marketer and producer of branded products and distributor of third party products in the pet and lawn and garden supplies industries in the United States. The Company operates in two segments: Pet segment and the Garden segment. It is a marketer and producer of pet supplies in the United States.

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Institutional Ownership by Quarter for Central Garden & Pet (NASDAQ:CENT)

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