JPMorgan Chase & Co. Purchases 24,375 Shares of Central Garden & Pet (NASDAQ:CENT)

JPMorgan Chase & Co. boosted its position in Central Garden & Pet (NASDAQ:CENT) by 69.2% during the 4th quarter, Holdings Channel reports. The fund owned 59,603 shares of the company’s stock after buying an additional 24,375 shares during the period. JPMorgan Chase & Co.’s holdings in Central Garden & Pet were worth $2,313,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Central Garden & Pet by 51.4% in the 3rd quarter. Barclays PLC now owns 34,944 shares of the company’s stock worth $1,275,000 after purchasing an additional 11,865 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Central Garden & Pet by 29.0% during the third quarter. Franklin Resources Inc. now owns 4,521 shares of the company’s stock valued at $157,000 after buying an additional 1,016 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Central Garden & Pet by 693.6% during the fourth quarter. Versant Capital Management Inc now owns 1,246 shares of the company’s stock worth $48,000 after acquiring an additional 1,089 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Central Garden & Pet by 5.0% in the 4th quarter. Empowered Funds LLC now owns 48,392 shares of the company’s stock worth $1,878,000 after acquiring an additional 2,297 shares during the last quarter. Finally, Rhumbline Advisers lifted its position 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 acquiring an additional 314 shares in the last quarter. Institutional investors and hedge funds own 16.13% of the company’s stock.

Central Garden & Pet Price Performance

Shares of NASDAQ:CENT opened at $35.34 on Thursday. Central Garden & Pet has a 1-year low of $32.17 and a 1-year high of $47.48. The company has a current ratio of 3.47, a quick ratio of 1.97 and a debt-to-equity ratio of 0.78. The stock has a market cap of $2.32 billion, a PE ratio of 19.42 and a beta of 0.80. The stock’s fifty day simple moving average is $35.89 and its two-hundred day simple moving average is $36.86.

Central Garden & Pet (NASDAQ:CENT) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.21 earnings per share for the quarter, beating 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, analysts forecast that Central Garden & Pet will post 2.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider John D. Walker III sold 10,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $32.86, for a total transaction of $328,600.00. Following the completion of the sale, the insider now directly owns 67,111 shares of the company’s stock, valued at approximately $2,205,267.46. This trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.19% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Argus lowered Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Central Garden & Pet presently has an average rating of “Buy” and an average target price of $45.00.

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.