Central Garden & Pet Company $CENTA Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its stake in shares of Central Garden & Pet Company (NASDAQ:CENTA) by 3.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 26,677 shares of the company’s stock after selling 1,096 shares during the quarter. Corebridge Financial Inc.’s holdings in Central Garden & Pet were worth $873,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Central Garden & Pet by 4.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,652 shares of the company’s stock worth $447,000 after acquiring an additional 604 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in Central Garden & Pet during the 1st quarter worth $573,000. Envestnet Portfolio Solutions Inc. acquired a new position in Central Garden & Pet during the 1st quarter worth $224,000. Charles Schwab Investment Management Inc. grew its holdings in Central Garden & Pet by 5.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 879,769 shares of the company’s stock worth $28,795,000 after acquiring an additional 47,257 shares in the last quarter. Finally, NorthRock Partners LLC bought a new position in Central Garden & Pet during the fourth quarter worth $1,922,000. 50.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CENTA has been the topic of several research analyst reports. Wall Street Zen upgraded Central Garden & Pet from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Canaccord Genuity Group lifted their price target on shares of Central Garden & Pet from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Central Garden & Pet presently has an average rating of “Hold” and a consensus price target of $38.67.

Central Garden & Pet Trading Up 0.1%

Central Garden & Pet stock opened at $34.15 on Friday. The company has a quick ratio of 2.28, a current ratio of 3.56 and a debt-to-equity ratio of 0.75. The firm has a 50-day moving average price of $33.81 and a two-hundred day moving average price of $32.24. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 15.52 and a beta of 0.66. Central Garden & Pet Company has a 52-week low of $27.70 and a 52-week high of $37.35.

Central Garden & Pet (NASDAQ:CENTA) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.22. The company had revenue of $960.91 million for the quarter, compared to analyst estimates of $993.66 million. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%. Sell-side analysts expect that Central Garden & Pet Company will post 2.38 earnings per share for the current year.

Insider Activity at Central Garden & Pet

In related news, Director John Ranelli sold 3,076 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $32.58, for a total transaction of $100,216.08. Following the completion of the sale, the director directly owned 1,427 shares of the company’s stock, valued at $46,491.66. This represents a 68.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John D. Walker III sold 3,500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $32.59, for a total transaction of $114,065.00. Following the sale, the insider directly owned 67,328 shares of the company’s stock, valued at approximately $2,194,219.52. This represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.28% of the stock is owned by corporate insiders.

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.