Insider Selling: Central Garden & Pet Co (NASDAQ:CENT) Director Sells 1,644 Shares of Stock

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Central Garden & Pet Co (NASDAQ:CENT) Director Brooks Pennington III sold 1,644 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $26.24, for a total transaction of $43,138.56. Following the transaction, the director now owns 42,023 shares of the company’s stock, valued at $1,102,683.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NASDAQ:CENT traded down $0.51 during mid-day trading on Wednesday, hitting $28.17. The stock had a trading volume of 80,200 shares, compared to its average volume of 147,717. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 14.75 and a beta of -0.05. Central Garden & Pet Co has a twelve month low of $25.07 and a twelve month high of $45.02. The company has a quick ratio of 2.79, a current ratio of 4.52 and a debt-to-equity ratio of 0.69.

Central Garden & Pet (NASDAQ:CENT) last issued its earnings results on Monday, May 6th. The company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.03. The firm had revenue of $673.70 million for the quarter, compared to analysts’ expectations of $647.00 million. Central Garden & Pet had a net margin of 4.19% and a return on equity of 9.92%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 earnings per share. On average, equities analysts anticipate that Central Garden & Pet Co will post 1.8 EPS for the current year.

Large investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. purchased a new position in Central Garden & Pet in the 4th quarter valued at $29,000. Huntington National Bank lifted its holdings in Central Garden & Pet by 33.6% in the first quarter. Huntington National Bank now owns 1,543 shares of the company’s stock valued at $39,000 after acquiring an additional 388 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Central Garden & Pet by 611.5% in the first quarter. BNP Paribas Arbitrage SA now owns 2,405 shares of the company’s stock valued at $61,000 after acquiring an additional 2,067 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in Central Garden & Pet in the fourth quarter valued at $100,000. Finally, SG Americas Securities LLC acquired a new stake in Central Garden & Pet in the first quarter valued at $107,000. 22.69% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on CENT shares. BidaskClub lowered shares of Central Garden & Pet from a “sell” rating to a “strong sell” rating in a report on Saturday, March 16th. ValuEngine raised shares of Central Garden & Pet from a “strong sell” rating to a “sell” rating in a research note on Monday, April 15th. Argus lowered their target price on shares of Central Garden & Pet from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, March 5th. Finally, TheStreet lowered shares of Central Garden & Pet from a “b” rating to a “c+” rating in a research note on Wednesday, February 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $40.50.

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About Central Garden & Pet

Central Garden & Pet Company, together with its subsidiaries, produces and distributes 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 supplies products for dogs and cats, including edible bones, edible and non-edible chews, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and products for birds, small animals, and specialty pets, such as food, cages and habitats, toys, chews, and related accessories.

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Insider Buying and Selling by Quarter for Central Garden & Pet (NASDAQ:CENT)

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