Highbridge Capital Management LLC Raises Stock Position in Central Garden & Pet (NASDAQ:CENTA)

Highbridge Capital Management LLC boosted its stake in Central Garden & Pet (NASDAQ:CENTA - Free Report) by 89.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 685,847 shares of the company's stock after purchasing an additional 324,493 shares during the quarter. Highbridge Capital Management LLC owned about 1.05% of Central Garden & Pet worth $22,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Natixis Advisors LLC boosted its holdings in shares of Central Garden & Pet by 13.7% in the 3rd quarter. Natixis Advisors LLC now owns 17,989 shares of the company's stock worth $565,000 after purchasing an additional 2,162 shares in the last quarter. Intech Investment Management LLC grew its position in Central Garden & Pet by 120.3% during the third quarter. Intech Investment Management LLC now owns 22,721 shares of the company's stock valued at $713,000 after acquiring an additional 12,407 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Central Garden & Pet by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 773,023 shares of the company's stock worth $24,273,000 after acquiring an additional 41,241 shares in the last quarter. Cerity Partners LLC raised its position in Central Garden & Pet by 33.4% in the 3rd quarter. Cerity Partners LLC now owns 20,667 shares of the company's stock worth $649,000 after purchasing an additional 5,178 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Central Garden & Pet in the third quarter worth $1,012,000. 50.82% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

CENTA has been the topic of several analyst reports. Argus downgraded Central Garden & Pet from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. StockNews.com raised Central Garden & Pet from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. dropped their price objective on Central Garden & Pet from $32.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $41.00.

Insider Activity at Central Garden & Pet

In other news, insider John D. Walker III sold 10,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $32.86, for a total value of $328,600.00. Following the completion of the sale, the insider now directly owns 67,111 shares of the company's stock, valued at $2,205,267.46. This represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 20.28% of the stock is owned by insiders.

Central Garden & Pet Trading Down 0.6 %

Shares of NASDAQ CENTA traded down $0.21 during trading hours on Tuesday, hitting $32.53. The company's stock had a trading volume of 60,713 shares, compared to its average volume of 296,379. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 17.87 and a beta of 0.70. Central Garden & Pet has a 12 month low of $27.70 and a 12 month high of $41.03. The business has a 50-day simple moving average of $31.97 and a 200-day simple moving average of $31.90. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.97 and a current ratio of 3.47.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.21 earnings per share for the quarter, beating 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%. On average, analysts anticipate that Central Garden & Pet will post 2.38 earnings per share for the current fiscal year.

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.