Olstein Capital Management L.P. Lowers Stock Holdings in Central Garden & Pet (NASDAQ:CENTA)

Olstein Capital Management L.P. decreased its holdings in shares of Central Garden & Pet (NASDAQ:CENTA) by 3.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,000 shares of the company’s stock after selling 3,000 shares during the quarter. Olstein Capital Management L.P. owned about 0.11% of Central Garden & Pet worth $2,386,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. James Investment Research Inc. grew its holdings in Central Garden & Pet by 23.2% in the 3rd quarter. James Investment Research Inc. now owns 30,302 shares of the company’s stock valued at $951,000 after buying an additional 5,712 shares during the period. GHP Investment Advisors Inc. raised its position in shares of Central Garden & Pet by 2.6% in the 3rd quarter. GHP Investment Advisors Inc. now owns 91,775 shares of the company’s stock worth $2,882,000 after buying an additional 2,352 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Central Garden & Pet by 39.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,650 shares of the company’s stock worth $397,000 after acquiring an additional 3,560 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Central Garden & Pet by 1.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,100,751 shares of the company’s stock worth $65,964,000 after purchasing an additional 38,077 shares during the period. Finally, CWM LLC increased its position in Central Garden & Pet by 72.6% during the 3rd quarter. CWM LLC now owns 1,957 shares of the company’s stock worth $61,000 after purchasing an additional 823 shares in the last quarter. 50.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CENTA shares. StockNews.com lowered shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their target price on shares of Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Two equities research 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’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $41.33.

Central Garden & Pet Stock Performance

Shares of NASDAQ:CENTA traded up $0.53 during trading on Thursday, reaching $32.60. 8,614 shares of the company’s stock traded hands, compared to its average volume of 279,809. The stock has a market capitalization of $2.20 billion, a P/E ratio of 14.79 and a beta of 0.73. Central Garden & Pet has a 12 month low of $27.70 and a 12 month high of $41.03. The company has a 50 day moving average of $31.09 and a 200-day moving average of $33.65. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16.

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

Insider Activity

In other Central Garden & Pet news, Director John Ranelli sold 2,500 shares of Central Garden & Pet stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $34.28, for a total value of $85,700.00. Following the transaction, the director now owns 822 shares in the company, valued at approximately $28,178.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Brooks Pennington III sold 1,486 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total value of $48,740.80. Following the transaction, the director now directly owns 40,743 shares of the company’s stock, valued at approximately $1,336,370.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Ranelli sold 2,500 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $34.28, for a total value of $85,700.00. Following the transaction, the director now owns 822 shares in the company, valued at approximately $28,178.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,986 shares of company stock worth $2,146,841. Corporate insiders own 20.28% of the company’s stock.

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.