Short Interest in Central Garden & Pet (NASDAQ:CENT) Drops By 5.0%

Central Garden & Pet (NASDAQ:CENT) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 1,130,000 shares, a drop of 5.0% from the March 31st total of 1,190,000 shares. Based on an average trading volume of 116,500 shares, the short-interest ratio is presently 9.7 days. Currently, 11.9% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research firms have recently weighed in on CENT. TheStreet upgraded Central Garden & Pet from a “c+” rating to a “b-” rating in a research report on Friday, March 1st. Truist Financial raised their target price on Central Garden & Pet from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Canaccord Genuity Group began coverage on Central Garden & Pet in a research report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 target price on the stock. Finally, Canaccord Genuity Group began coverage on Central Garden & Pet in a research report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 target price on the stock.

Central Garden & Pet Stock Performance

Shares of Central Garden & Pet stock opened at $41.44 on Thursday. Central Garden & Pet has a one year low of $28.48 and a one year high of $44.45. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 20.52 and a beta of 0.72. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.55 and a current ratio of 3.47. The business’s 50 day moving average price is $41.74 and its 200 day moving average price is $35.82.

Central Garden & Pet (NASDAQ:CENT) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.15. Central Garden & Pet had a return on equity of 10.32% and a net margin of 4.06%. The firm had revenue of $634.53 million for the quarter, compared to the consensus estimate of $620.11 million. On average, research analysts predict that Central Garden & Pet will post 2.37 EPS for the current year.

Insider Buying and Selling

In other Central Garden & Pet news, Director John Ranelli sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $38.34, for a total value of $92,016.00. Following the sale, the director now directly owns 41 shares of the company’s stock, valued at $1,571.94. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Central Garden & Pet news, CAO Howard Machek sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $36.40, for a total value of $182,000.00. Following the sale, the chief accounting officer now directly owns 59,406 shares of the company’s stock, valued at $2,162,378.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Ranelli sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $38.34, for a total value of $92,016.00. Following the completion of the sale, the director now directly owns 41 shares in the company, valued at $1,571.94. The disclosure for this sale can be found here. Insiders have sold a total of 25,822 shares of company stock valued at $965,026 over the last ninety days. Company insiders own 9.53% of the company’s stock.

Institutional Investors Weigh In On Central Garden & Pet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its position in Central Garden & Pet by 6.6% in the fourth quarter. SG Americas Securities LLC now owns 5,613 shares of the company’s stock valued at $281,000 after purchasing an additional 346 shares during the period. Values First Advisors Inc. boosted its position in shares of Central Garden & Pet by 7.3% during the 4th quarter. Values First Advisors Inc. now owns 9,941 shares of the company’s stock worth $498,000 after acquiring an additional 673 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Central Garden & Pet by 21.8% during the 4th quarter. New York State Teachers Retirement System now owns 5,137 shares of the company’s stock worth $257,000 after acquiring an additional 919 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Central Garden & Pet by 28.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,850 shares of the company’s stock worth $243,000 after acquiring an additional 1,070 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Central Garden & Pet during the 3rd quarter worth about $98,000. Hedge funds and other institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Company Profile

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 containment, grooming products, waste management, and training pads; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; products for equine and livestock; animal and household health and insect control products; aquariums and terrariums, including fixtures and stands, water conditioners and supplements, water pumps and filters, and lighting systems and accessories; and live fish and small animals, as well as outdoor cushions.