Central Garden & Pet (NASDAQ:CENT) Short Interest Up 7.5% in November

Central Garden & Pet (NASDAQ:CENT - Get Free Report) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 1,720,000 shares, an increase of 7.5% from the November 15th total of 1,600,000 shares. Approximately 18.8% of the company's shares are sold short. Based on an average daily volume of 120,500 shares, the days-to-cover ratio is currently 14.3 days.

Central Garden & Pet Trading Down 0.1 %

Central Garden & Pet stock traded down $0.03 during mid-day trading on Monday, hitting $40.69. The company's stock had a trading volume of 174,792 shares, compared to its average volume of 115,750. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.19 and a current ratio of 3.66. The company has a 50 day moving average of $37.04 and a 200-day moving average of $38.07. Central Garden & Pet has a one year low of $32.17 and a one year high of $47.48. The stock has a market cap of $2.67 billion, a PE ratio of 25.12 and a beta of 0.81.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last posted its quarterly earnings results on Monday, November 25th. The company reported ($0.18) EPS for the quarter, topping 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. The firm's revenue was down 10.8% on a year-over-year basis. On average, research analysts anticipate that Central Garden & Pet will post 2.22 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on CENT. Canaccord Genuity Group dropped 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 note on Tuesday, November 26th. Truist Financial dropped their price target on shares of Central Garden & Pet from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, October 16th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $46.75.

Hedge Funds Weigh In On Central Garden & Pet

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in shares of Central Garden & Pet by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company's stock worth $3,345,000 after buying an additional 1,873 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Central Garden & Pet by 6.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company's stock valued at $34,085,000 after purchasing an additional 51,454 shares during the period. Versor Investments LP bought a new stake in shares of Central Garden & Pet in the 2nd quarter valued at about $270,000. Los Angeles Capital Management LLC purchased a new stake in shares of Central Garden & Pet in the 2nd quarter worth approximately $295,000. Finally, American Century Companies Inc. lifted its position 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 during the period. 16.13% of the stock is owned by hedge funds and other institutional investors.

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.