Allspring Global Investments Holdings LLC Sells 82,034 Shares of Central Garden & Pet (NASDAQ:CENT)

Allspring Global Investments Holdings LLC trimmed its position in shares of Central Garden & Pet (NASDAQ:CENT - Free Report) by 9.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 811,192 shares of the company's stock after selling 82,034 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.24% of Central Garden & Pet worth $30,939,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC boosted its holdings in Central Garden & Pet by 1.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 148,910 shares of the company's stock valued at $5,431,000 after acquiring an additional 2,450 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Central Garden & Pet by 11.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 112,305 shares of the company's stock valued at $4,096,000 after acquiring an additional 11,671 shares during the period. Empowered Funds LLC boosted its holdings in Central Garden & Pet by 5.0% during the fourth quarter. Empowered Funds LLC now owns 48,392 shares of the company's stock valued at $1,878,000 after acquiring an additional 2,297 shares during the period. JPMorgan Chase & Co. boosted its holdings in Central Garden & Pet by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 35,228 shares of the company's stock valued at $1,285,000 after acquiring an additional 14,964 shares during the period. Finally, Barclays PLC raised its position in shares of Central Garden & Pet by 51.4% during the third quarter. Barclays PLC now owns 34,944 shares of the company's stock valued at $1,275,000 after buying an additional 11,865 shares during the last quarter. 16.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CENT. Argus lowered shares of Central Garden & Pet from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Canaccord Genuity Group cut 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 research analyst has rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $46.75.

Central Garden & Pet Price Performance

NASDAQ:CENT traded down $0.55 during mid-day trading on Tuesday, hitting $38.21. The company's stock had a trading volume of 21,492 shares, compared to its average volume of 91,069. Central Garden & Pet has a fifty-two week low of $32.17 and a fifty-two week high of $47.48. The company has a current ratio of 3.47, a quick ratio of 2.19 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 21.02 and a beta of 0.79. The stock has a fifty day moving average of $38.13 and a 200-day moving average of $37.61.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.24. Central Garden & Pet had a net margin of 3.77% and a return on equity of 10.08%. As a group, equities analysts forecast that Central Garden & Pet will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider John D. Walker III sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $32.86, for a total transaction of $328,600.00. Following the completion of the sale, the insider now owns 67,111 shares of the company's stock, valued at approximately $2,205,267.46. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 8.19% of the company's stock.

About Central Garden & Pet

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish and small animals as well as outdoor cushions.