Los Angeles Capital Management LLC Decreases Position in Central Garden & Pet (NASDAQ:CENT)

Los Angeles Capital Management LLC reduced its position in shares of Central Garden & Pet (NASDAQ:CENT) by 10.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,850 shares of the company’s stock after selling 800 shares during the period. Los Angeles Capital Management LLC’s holdings in Central Garden & Pet were worth $250,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of Central Garden & Pet during the second quarter worth approximately $51,000. Point72 Asset Management L.P. acquired a new stake in Central Garden & Pet during the 2nd quarter worth $113,000. SG Americas Securities LLC purchased a new stake in shares of Central Garden & Pet during the third quarter worth $111,000. EntryPoint Capital LLC raised its position in shares of Central Garden & Pet by 909.2% in the first quarter. EntryPoint Capital LLC now owns 4,269 shares of the company’s stock valued at $183,000 after buying an additional 3,846 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Central Garden & Pet in the second quarter worth about $187,000. Institutional investors and hedge funds own 16.13% of the company’s stock.

Central Garden & Pet Stock Up 0.3 %

CENT stock opened at $37.02 on Tuesday. Central Garden & Pet has a one year low of $30.75 and a one year high of $47.48. The firm has a market cap of $2.50 billion, a PE ratio of 17.08 and a beta of 0.75. The firm’s 50 day moving average price is $35.76 and its 200-day moving average price is $38.81. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.16 and a current ratio of 3.66.

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 dated Friday, August 30th. The shares were sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the completion of the transaction, the chairman now owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. This trade represents a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 9.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CENT. Truist Financial cut their price objective on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $48.00 price target on shares of Central Garden & Pet in a report on Monday, September 30th. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $47.50.

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.