Empowered Funds LLC Acquires New Stake in Central Garden & Pet (NASDAQ:CENT)

Empowered Funds LLC bought a new position in shares of Central Garden & Pet (NASDAQ:CENT - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CENT. Marshall Wace LLP grew its position in Central Garden & Pet by 748.5% during the second quarter. Marshall Wace LLP now owns 84,000 shares of the company's stock worth $3,234,000 after buying an additional 74,100 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Central Garden & Pet by 6.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company's stock worth $34,085,000 after buying an additional 51,454 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Central Garden & Pet by 24.5% in the 2nd quarter. American Century Companies Inc. now owns 162,647 shares of the company's stock worth $6,262,000 after purchasing an additional 32,009 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Central Garden & Pet by 32.4% in 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. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Central Garden & Pet in the 2nd quarter worth about $295,000. 16.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Central Garden & Pet

In other news, Chairman William E. Brown sold 60,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $33.54, for a total value of $2,012,400.00. Following the completion of the transaction, the chairman now owns 1,125,773 shares of the company's stock, valued at approximately $37,758,426.42. This represents a 5.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group reiterated a "buy" rating and issued a $48.00 price objective on shares of Central Garden & Pet in a report on Monday, September 30th. Truist Financial cut their price objective on Central Garden & Pet from $50.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $47.50.

Central Garden & Pet Trading Up 2.6 %

CENT stock traded up $0.99 during trading on Thursday, hitting $38.36. 155,051 shares of the company traded hands, compared to its average volume of 114,411. The firm has a market capitalization of $2.59 billion, a PE ratio of 17.69 and a beta of 0.75. Central Garden & Pet has a 1 year low of $31.31 and a 1 year high of $47.48. The company has a 50-day moving average of $35.78 and a 200-day moving average of $38.75. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.16 and a current ratio of 3.66.

Central Garden & Pet Company Profile

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.