JPMorgan Chase & Co. Boosts Position in Central Garden & Pet (NASDAQ:CENT)

JPMorgan Chase & Co. boosted its position in Central Garden & Pet (NASDAQ:CENT - Free Report) by 73.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,228 shares of the company's stock after acquiring an additional 14,964 shares during the period. JPMorgan Chase & Co. owned 0.05% of Central Garden & Pet worth $1,285,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Central Garden & Pet by 0.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 893,226 shares of the company's stock worth $32,576,000 after acquiring an additional 7,893 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Central Garden & Pet by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 777,297 shares of the company's stock worth $29,926,000 after purchasing an additional 5,571 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Central Garden & Pet by 1.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 148,910 shares of the company's stock worth $5,431,000 after purchasing an additional 2,450 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Central Garden & Pet by 11.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 112,305 shares of the company's stock valued at $4,096,000 after purchasing an additional 11,671 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Central Garden & Pet by 748.5% during the second quarter. Marshall Wace LLP now owns 84,000 shares of the company's stock valued at $3,234,000 after buying an additional 74,100 shares during the last quarter. Institutional investors and hedge funds own 16.13% of the company's stock.

Central Garden & Pet Stock Performance

Shares of NASDAQ CENT traded down $0.36 during mid-day trading on Friday, reaching $36.49. 92,490 shares of the company's stock were exchanged, compared to its average volume of 74,021. The firm has a 50-day moving average price of $38.64 and a two-hundred day moving average price of $37.76. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 22.55 and a beta of 0.79. Central Garden & Pet has a 52 week low of $32.17 and a 52 week high of $47.48.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last released its earnings results on Monday, November 25th. The company reported ($0.18) earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.04. Central Garden & Pet had a net margin of 3.37% and a return on equity of 9.31%. The firm had revenue of $669.49 million for the quarter, compared to analysts' expectations of $707.83 million. Central Garden & Pet's revenue was down 10.8% on a year-over-year basis. Analysts predict that Central Garden & Pet will post 2.22 EPS for the current year.

Analyst Upgrades and Downgrades

CENT has been the subject of a number of analyst reports. Argus lowered Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Truist Financial lowered their target price on shares of Central Garden & Pet from $50.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, October 16th. Finally, Canaccord Genuity Group reduced their price objective on shares of Central Garden & Pet from $48.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $46.75.

Central Garden & Pet 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.