Bank of New York Mellon Corp Purchases 2,129 Shares of Central Garden & Pet (NASDAQ:CENT)

Bank of New York Mellon Corp raised its stake in Central Garden & Pet (NASDAQ:CENT) by 3.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 73,883 shares of the company’s stock after buying an additional 2,129 shares during the period. Bank of New York Mellon Corp’s holdings in Central Garden & Pet were worth $2,867,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CENT. Principal Financial Group Inc. boosted its holdings in Central Garden & Pet by 4.2% in the fourth quarter. Principal Financial Group Inc. now owns 53,355 shares of the company’s stock worth $2,070,000 after acquiring an additional 2,141 shares in the last quarter. Rhumbline Advisers lifted its stake in Central Garden & Pet by 1.1% in the 4th quarter. Rhumbline Advisers now owns 29,052 shares of the company’s stock valued at $1,127,000 after buying an additional 314 shares in the last quarter. Empowered Funds LLC lifted its holdings in Central Garden & Pet by 5.0% in the 4th quarter. Empowered Funds LLC now owns 48,392 shares of the company’s stock valued at $1,878,000 after purchasing an additional 2,297 shares in the last quarter. Versant Capital Management Inc grew its stake in Central Garden & Pet by 693.6% during the 4th quarter. Versant Capital Management Inc now owns 1,246 shares of the company’s stock valued at $48,000 after acquiring an additional 1,089 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Central Garden & Pet by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 35,228 shares of the company’s stock worth $1,285,000 after buying an additional 14,964 shares in the last quarter. 16.13% of the stock is owned by institutional investors.

Insider Activity at Central Garden & Pet

In other news, insider John D. Walker III sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $32.86, for a total transaction of $328,600.00. Following the completion of the transaction, the insider now directly owns 67,111 shares of the company’s stock, valued at $2,205,267.46. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CENT. Canaccord Genuity Group decreased their price objective on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Argus lowered shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $45.00.

Central Garden & Pet Price Performance

CENT stock opened at $36.34 on Friday. The business has a 50 day simple moving average of $36.78 and a 200-day simple moving average of $37.20. Central Garden & Pet has a twelve month low of $32.17 and a twelve month high of $47.48. The company has a market capitalization of $2.38 billion, a P/E ratio of 19.97 and a beta of 0.73. The company has a current ratio of 3.47, a quick ratio of 1.97 and a debt-to-equity ratio of 0.78.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.24. Central Garden & Pet had a net margin of 3.77% and a return on equity of 10.08%. As a group, equities analysts anticipate that Central Garden & Pet will post 2.38 EPS for the current year.

About Central Garden & Pet

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.