Central Garden & Pet (NASDAQ:CENTA) Short Interest Update

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 827,600 shares, a growth of 16.5% from the October 15th total of 710,400 shares. Based on an average daily volume of 311,300 shares, the short-interest ratio is presently 2.7 days.

Insider Buying and Selling at Central Garden & Pet

In other news, Chairman William E. Brown sold 60,000 shares of the business's stock in a transaction that occurred on Friday, August 30th. The shares were 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 $37,758,426.42. The trade was a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Ranelli sold 2,500 shares of the business's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $34.28, for a total value of $85,700.00. Following the sale, the director now directly owns 822 shares of the company's stock, valued at approximately $28,178.16. This trade represents a 75.26 % decrease in their position. The disclosure for this sale can be found here. 20.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Central Garden & Pet

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio grew its stake in shares of Central Garden & Pet by 0.5% during the first quarter. Public Employees Retirement System of Ohio now owns 50,868 shares of the company's stock valued at $1,878,000 after buying an additional 256 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Central Garden & Pet by 16.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,511 shares of the company's stock valued at $83,000 after acquiring an additional 355 shares in the last quarter. Arizona State Retirement System lifted its holdings in Central Garden & Pet by 2.5% in the second quarter. Arizona State Retirement System now owns 15,269 shares of the company's stock valued at $504,000 after acquiring an additional 377 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in Central Garden & Pet by 37.4% during the first quarter. Public Employees Retirement Association of Colorado now owns 1,650 shares of the company's stock worth $61,000 after purchasing an additional 449 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of Central Garden & Pet by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 27,300 shares of the company's stock worth $902,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 50.82% of the company's stock.

Central Garden & Pet Trading Up 0.3 %

Shares of NASDAQ CENTA traded up $0.09 during trading hours on Friday, hitting $31.63. The company's stock had a trading volume of 222,744 shares, compared to its average volume of 280,273. Central Garden & Pet has a 12 month low of $27.70 and a 12 month high of $41.03. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.16 and a current ratio of 3.66. The business has a 50-day simple moving average of $30.81 and a 200-day simple moving average of $33.48. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 14.59 and a beta of 0.73.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CENTA shares. StockNews.com downgraded Central Garden & Pet from a "buy" rating to a "hold" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price objective on shares of Central Garden & Pet from $34.00 to $32.00 and set a "neutral" rating on the stock in a research note on Friday, October 11th. Two equities research analysts have 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 data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $41.33.

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.