Central Garden & Pet (NASDAQ:CENTA) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in shares of Central Garden & Pet (NASDAQ:CENTA) by 5.6% during the second quarter, Holdings Channel reports. The institutional investor owned 631,724 shares of the company’s stock after acquiring an additional 33,379 shares during the period. The Manufacturers Life Insurance Company’s holdings in Central Garden & Pet were worth $20,866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CENTA. Vanguard Group Inc. increased its position in shares of Central Garden & Pet by 30.2% in the first quarter. Vanguard Group Inc. now owns 5,636,319 shares of the company’s stock valued at $208,093,000 after buying an additional 1,306,309 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Central Garden & Pet by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,653,753 shares of the company’s stock worth $120,682,000 after acquiring an additional 29,780 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Central Garden & Pet by 24.8% in the first quarter. Champlain Investment Partners LLC now owns 2,303,369 shares of the company’s stock valued at $85,040,000 after purchasing an additional 457,699 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Central Garden & Pet by 29.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,087,178 shares of the company’s stock valued at $77,059,000 after purchasing an additional 480,805 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC increased its stake in shares of Central Garden & Pet by 7.2% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,112,400 shares of the company’s stock worth $41,070,000 after purchasing an additional 74,256 shares in the last quarter. 50.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group raised Central Garden & Pet to a “strong-buy” rating in a research note on Monday, July 1st. JPMorgan Chase & Co. decreased their price objective on Central Garden & Pet from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, StockNews.com lowered shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Monday, July 1st. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Central Garden & Pet currently has a consensus rating of “Buy” and a consensus target price of $42.00.

Insider Activity

In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total transaction of $48,740.80. Following the transaction, the director now owns 40,743 shares in the company, valued at $1,336,370.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Central Garden & Pet news, Chairman William E. Brown sold 60,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $33.54, for a total value of $2,012,400.00. Following the completion of the transaction, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at approximately $37,758,426.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brooks Pennington III sold 1,486 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total value of $48,740.80. Following the sale, the director now owns 40,743 shares of the company’s stock, valued at $1,336,370.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,986 shares of company stock valued at $2,146,841. Company insiders own 20.28% of the company’s stock.

Central Garden & Pet Stock Performance

NASDAQ:CENTA opened at $30.88 on Wednesday. The company has a market cap of $2.08 billion, a P/E ratio of 13.85 and a beta of 0.73. The firm’s 50 day moving average is $33.30 and its two-hundred day moving average is $34.78. Central Garden & Pet has a fifty-two week low of $27.88 and a fifty-two week high of $41.03. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75.

Central Garden & Pet (NASDAQ:CENTA) last issued its earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $996.35 million during the quarter, compared to analysts’ expectations of $1.01 billion. Central Garden & Pet had a return on equity of 10.66% and a net margin of 4.42%. During the same quarter in the previous year, the business earned $1.40 EPS. Analysts expect that Central Garden & Pet will post 2.11 EPS for the current year.

About Central Garden & Pet

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.