Allspring Global Investments Holdings LLC Sells 65,669 Shares of Central Garden & Pet (NASDAQ:CENTA)

Allspring Global Investments Holdings LLC lowered its stake in Central Garden & Pet (NASDAQ:CENTA - Free Report) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,035,082 shares of the company's stock after selling 65,669 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 3.10% of Central Garden & Pet worth $66,120,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. CWM LLC raised its position in Central Garden & Pet by 72.6% in the third quarter. CWM LLC now owns 1,957 shares of the company's stock valued at $61,000 after purchasing an additional 823 shares during the last quarter. KBC Group NV raised its holdings in Central Garden & Pet by 43.8% in the 3rd quarter. KBC Group NV now owns 2,402 shares of the company's stock valued at $75,000 after buying an additional 732 shares during the last quarter. Quantbot Technologies LP boosted its position in Central Garden & Pet by 253.7% during the 3rd quarter. Quantbot Technologies LP now owns 3,891 shares of the company's stock worth $122,000 after buying an additional 2,791 shares during the period. Point72 DIFC Ltd grew its holdings in Central Garden & Pet by 32.0% during the 3rd quarter. Point72 DIFC Ltd now owns 6,154 shares of the company's stock worth $193,000 after acquiring an additional 1,492 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Central Garden & Pet during the 3rd quarter worth approximately $194,000. 50.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity

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 in the company, valued at $2,205,267.46. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 20.28% of the company's stock.

Central Garden & Pet Stock Down 0.8 %

Shares of NASDAQ:CENTA traded down $0.26 during mid-day trading on Monday, hitting $33.25. 296,065 shares of the company traded hands, compared to its average volume of 238,504. The stock has a market cap of $2.18 billion, a P/E ratio of 18.27 and a beta of 0.76. The stock has a 50-day moving average price of $32.45 and a two-hundred day moving average price of $32.23. Central Garden & Pet has a 12-month low of $27.70 and a 12-month high of $41.03. The company has a current ratio of 3.47, a quick ratio of 2.19 and a debt-to-equity ratio of 0.78.

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 analysts' consensus estimates 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, equities research analysts forecast that Central Garden & Pet will post 2.2 earnings per share for the current 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.