Empowered Funds LLC Acquires Shares of 46,095 Central Garden & Pet (NASDAQ:CENT)

Empowered Funds LLC purchased a new stake in Central Garden & Pet (NASDAQ:CENT - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 46,095 shares of the company's stock, valued at approximately $1,681,000. Empowered Funds LLC owned approximately 0.07% of Central Garden & Pet at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Central Garden & Pet by 32.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,862 shares of the company's stock worth $1,793,000 after purchasing an additional 10,237 shares in the last quarter. American Century Companies Inc. grew its position in Central Garden & Pet by 24.5% during the 2nd quarter. American Century Companies Inc. now owns 162,647 shares of the company's stock worth $6,262,000 after acquiring an additional 32,009 shares during the last quarter. Marshall Wace LLP increased its holdings in Central Garden & Pet by 748.5% during the 2nd quarter. Marshall Wace LLP now owns 84,000 shares of the company's stock valued at $3,234,000 after purchasing an additional 74,100 shares in the last quarter. Bank of New York Mellon Corp raised its position in Central Garden & Pet by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company's stock valued at $3,345,000 after purchasing an additional 1,873 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Central Garden & Pet in the second quarter worth $295,000. 16.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CENT. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $48.00 target price on shares of Central Garden & Pet in a research note on Monday, September 30th. Truist Financial decreased their price objective on Central Garden & Pet from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $47.50.

Insiders Place Their Bets

In related news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the completion of the sale, the chairman now directly owns 1,125,773 shares of the company's stock, valued at approximately $37,758,426.42. This trade represents a 5.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 9.53% of the company's stock.

Central Garden & Pet Price Performance

NASDAQ CENT opened at $37.37 on Thursday. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 17.24 and a beta of 0.75. Central Garden & Pet has a 52-week low of $30.75 and a 52-week high of $47.48. The business has a 50 day simple moving average of $35.76 and a 200 day simple moving average of $38.76. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.16 and a current ratio of 3.66.

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.