Posted by admin on May 27th, 2022

Central Garden & Pet (NASDAQ:CENTA – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

According to Zacks, “Central Garden & Pet Company is a leading innovator, marketer and producer of quality branded products for the lawn & garden and pet supplies markets. Committed to new product innovation, their products are sold to specialty independent and mass retailers. Participating categories in Lawn & Garden include: Grass seed and the brands PENNINGTON, and THE REBELS; wild bird feed and the brand PENNINGTON; weed and insect control and the brands AMDRO, SEVIN, IRONITE and OVER-N-OUT; and decorative outdoor patio products under the PENNINGTON brand. Participating categories in Pet include: Animal health and the brands ADAMS and ZODIAC; aquatics and reptile and the brands AQUEON, CORALIFE, SEGREST and ZILLA; bird & small animal and the brands KAYTEE, Forti-Diet and CRITTER TRAIL; dog & cat and the brands TFH, NYLABONE, FOUR PAWS, IMS, CADET, DMC, K&H Pet Products, PINNACLE and AVODERM; and equine and the brands FARNAM, HORSE HEALTH and VITAFLEX. “

Other equities research analysts also recently issued reports about the stock. StockNews.com initiated coverage on shares of Central Garden & Pet in a research report on Thursday, March 31st. They issued a “hold” rating for the company. JPMorgan Chase & Co. increased their target price on shares of Central Garden & Pet from $47.00 to $49.00 in a research report on Thursday, April 14th.

Shares of NASDAQ CENTA traded up $0.86 during trading on Friday, hitting $43.15. 161,496 shares of the company traded hands, compared to its average volume of 184,415. The business’s fifty day moving average is $41.67 and its 200 day moving average is $43.67. Central Garden & Pet has a fifty-two week low of $38.56 and a fifty-two week high of $53.47. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 15.75 and a beta of 0.56. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.29 and a current ratio of 2.85.

In other news, CFO Nicholas Lahanas sold 7,306 shares of the firm’s stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $41.78, for a total value of $305,244.68. Following the completion of the sale, the chief financial officer now directly owns 113,520 shares of the company’s stock, valued at approximately $4,742,865.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 20.28% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in CENTA. BlackRock Inc. lifted its holdings in shares of Central Garden & Pet by 6.1% in the fourth quarter. BlackRock Inc. now owns 7,243,501 shares of the company’s stock worth $346,600,000 after buying an additional 414,760 shares in the last quarter. Vanguard Group Inc. grew its holdings in Central Garden & Pet by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 4,371,134 shares of the company’s stock worth $178,254,000 after acquiring an additional 72,345 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Central Garden & Pet by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,432,630 shares of the company’s stock worth $99,205,000 after acquiring an additional 12,052 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in Central Garden & Pet by 7.6% during the 4th quarter. Champlain Investment Partners LLC now owns 1,771,670 shares of the company’s stock worth $84,774,000 after acquiring an additional 124,430 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Central Garden & Pet during the fourth quarter valued at about $73,756,000. Hedge funds and other institutional investors own 68.74% of the company’s stock.

Central Garden & Pet Company Profile (Get Rating)

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 grooming products, waste management and training pads, and pet containment; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; animal and household health and insect control products; live fish and products for fish, reptiles, and other aquarium-based pets, such as aquariums, furniture and lighting fixtures, pumps, filters, water conditioners, food, and supplements; and products for horses and livestock, as well as outdoor cushions and pillows.

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