Central Garden & Pet (NASDAQ:CENT) Sees Large Volume Increase – What’s Next?

Shares of Central Garden & Pet (NASDAQ:CENT) saw strong trading volume on Monday . 356,210 shares were traded during trading, an increase of 171% from the previous session’s volume of 131,351 shares.The stock last traded at $35.78 and had previously closed at $33.67.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CENT shares. Argus downgraded Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Canaccord Genuity Group cut their price target on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $45.00.

Central Garden & Pet Price Performance

The company has a market cap of $2.31 billion, a price-to-earnings ratio of 19.34 and a beta of 0.73. The company has a 50 day moving average price of $36.71 and a 200-day moving average price of $37.08. The company has a quick ratio of 1.97, a current ratio of 3.47 and a debt-to-equity ratio of 0.78.

Central Garden & Pet (NASDAQ:CENT) last released its earnings results on Wednesday, February 5th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.24. Central Garden & Pet had a net margin of 3.77% and a return on equity of 10.08%. As a group, equities research analysts predict that Central Garden & Pet will post 2.38 EPS for the current fiscal year.

Insider Activity

In related news, insider John D. Walker III sold 10,000 shares of Central Garden & Pet stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $32.86, for a total value of $328,600.00. Following the sale, the insider now owns 67,111 shares of the company’s stock, valued at approximately $2,205,267.46. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.19% of the company’s stock.

Institutional Investors Weigh In On Central Garden & Pet

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Central Garden & Pet by 9.3% in the 4th quarter. Vanguard Group Inc. now owns 1,474,313 shares of the company’s stock worth $57,203,000 after purchasing an additional 125,418 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Central Garden & Pet by 23.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 138,273 shares of the company’s stock worth $5,365,000 after purchasing an additional 25,968 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Central Garden & Pet by 69.2% during the 4th quarter. JPMorgan Chase & Co. now owns 59,603 shares of the company’s stock valued at $2,313,000 after acquiring an additional 24,375 shares during the period. Millennium Management LLC grew its position in shares of Central Garden & Pet by 14.5% during the fourth quarter. Millennium Management LLC now owns 186,167 shares of the company’s stock worth $7,223,000 after purchasing an additional 23,622 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Central Garden & Pet by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 796,917 shares of the company’s stock valued at $30,920,000 after buying an additional 22,703 shares during the last quarter. Hedge funds and other institutional investors own 16.13% of the company’s stock.

About Central Garden & Pet

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish and small animals as well as outdoor cushions.