Bank of New York Mellon Corp Boosts Stake in Central Garden & Pet Co (CENT)

Bank of New York Mellon Corp grew its holdings in Central Garden & Pet Co (NASDAQ:CENT) by 41.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 204,093 shares of the company’s stock after purchasing an additional 59,561 shares during the period. Bank of New York Mellon Corp owned approximately 0.39% of Central Garden & Pet worth $7,927,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Municipal Employees Retirement System of Michigan raised its position in shares of Central Garden & Pet by 58.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,830 shares of the company’s stock valued at $149,000 after purchasing an additional 1,420 shares during the period. Intrust Bank NA bought a new stake in shares of Central Garden & Pet in the third quarter valued at approximately $289,000. Sei Investments Co. raised its position in shares of Central Garden & Pet by 143.2% in the third quarter. Sei Investments Co. now owns 11,269 shares of the company’s stock valued at $438,000 after purchasing an additional 6,636 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Central Garden & Pet by 70.3% in the third quarter. BNP Paribas Arbitrage SA now owns 5,340 shares of the company’s stock valued at $207,000 after purchasing an additional 2,204 shares during the period. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Central Garden & Pet in the third quarter valued at approximately $224,000. 20.02% of the stock is currently owned by institutional investors.

CENT has been the topic of several research reports. Zacks Investment Research lowered shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. BidaskClub lowered shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. CL King began coverage on shares of Central Garden & Pet in a research report on Thursday, December 7th. They issued a “buy” rating and a $47.00 price target on the stock. Oppenheimer reaffirmed a “hold” rating on shares of Central Garden & Pet in a report on Wednesday, November 29th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Central Garden & Pet in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Central Garden & Pet has a consensus rating of “Hold” and an average price target of $44.00.

In other news, CFO Nicholas Lahanas sold 7,119 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $38.78, for a total value of $276,074.82. Following the transaction, the chief financial officer now owns 27,959 shares of the company’s stock, valued at approximately $1,084,250.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Ranelli sold 16,189 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $38.17, for a total transaction of $617,934.13. Following the completion of the transaction, the director now directly owns 61,317 shares in the company, valued at approximately $2,340,469.89. The disclosure for this sale can be found here. Insiders have sold a total of 70,299 shares of company stock worth $2,673,558 in the last ninety days. 11.60% of the stock is currently owned by insiders.

Shares of Central Garden & Pet Co (CENT) opened at $39.13 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.37 and a current ratio of 3.10. The firm has a market cap of $1,950.00, a P/E ratio of 25.74, a P/E/G ratio of 2.34 and a beta of 0.03. Central Garden & Pet Co has a twelve month low of $29.08 and a twelve month high of $42.29.

Central Garden & Pet (NASDAQ:CENT) last posted its earnings results on Tuesday, November 28th. The company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.02). The firm had revenue of $490.46 million for the quarter, compared to the consensus estimate of $439.07 million. Central Garden & Pet had a return on equity of 12.81% and a net margin of 3.84%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period last year, the company posted $0.13 EPS. analysts forecast that Central Garden & Pet Co will post 1.66 earnings per share for the current fiscal year.

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Central Garden & Pet Company Profile

Central Garden & Pet Company is a marketer and producer of branded products and distributor of third party products in the pet and lawn and garden supplies industries in the United States. The Company operates in two segments: Pet segment and the Garden segment. It is a marketer and producer of pet supplies in the United States.

Institutional Ownership by Quarter for Central Garden & Pet (NASDAQ:CENT)

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