Central Garden & Pet (NASDAQ:CENT) Price Target Lowered to $45.00 at Canaccord Genuity Group

Central Garden & Pet (NASDAQ:CENT) had its price target cut by Canaccord Genuity Group from $48.00 to $45.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Separately, Truist Financial reduced their target price on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $46.75.

Central Garden & Pet Trading Up 2.6 %

Shares of NASDAQ:CENT opened at $39.83 on Tuesday. Central Garden & Pet has a 52-week low of $31.31 and a 52-week high of $47.48. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.16 and a current ratio of 3.66. The company has a market capitalization of $2.69 billion, a P/E ratio of 18.37 and a beta of 0.75. The company has a 50-day simple moving average of $35.79 and a 200 day simple moving average of $38.64.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, Chairman William E. Brown sold 60,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the transaction, the chairman now owns 1,125,773 shares in the company, valued at $37,758,426.42. This trade represents a 5.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.53% of the company’s stock.

Hedge Funds Weigh In On Central Garden & Pet

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC acquired a new stake in Central Garden & Pet in the 3rd quarter worth about $1,681,000. Price T Rowe Associates Inc. MD raised its position in shares of Central Garden & Pet by 32.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,862 shares of the company’s stock valued at $1,793,000 after buying an additional 10,237 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Central Garden & Pet in the third quarter valued at approximately $797,000. American Century Companies Inc. grew its position in Central Garden & Pet by 24.5% during the second quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock worth $6,262,000 after buying an additional 32,009 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in Central Garden & Pet by 748.5% during the 2nd quarter. Marshall Wace LLP now owns 84,000 shares of the company’s stock worth $3,234,000 after acquiring an additional 74,100 shares during the period. 16.13% of the stock is currently owned by institutional investors and hedge funds.

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.