Central Garden & Pet (NASDAQ:CENTA) Trading Down 5.2% - Here's Why

Central Garden & Pet (NASDAQ:CENTA - Get Free Report)'s stock price fell 5.2% during trading on Friday . The company traded as low as $30.70 and last traded at $30.74. 316,399 shares changed hands during trading, an increase of 15% from the average session volume of 275,854 shares. The stock had previously closed at $32.42.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of 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. Argus downgraded Central Garden & Pet from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Finally, StockNews.com upgraded Central Garden & Pet from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Central Garden & Pet has a consensus rating of "Moderate Buy" and an average price target of $41.00.

Central Garden & Pet Stock Performance

The company has a market cap of $2.05 billion, a PE ratio of 17.21 and a beta of 0.70. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.97 and a current ratio of 3.47. The firm's 50 day moving average is $31.85 and its 200-day moving average is $31.92.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.24. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. On average, research analysts anticipate that Central Garden & Pet will post 2.38 earnings per share for the current fiscal year.

Insider Transactions at Central Garden & Pet

In other Central Garden & Pet news, insider John D. Walker III sold 10,000 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $32.86, for a total value of $328,600.00. Following the sale, the insider now directly owns 67,111 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 20.28% of the company's stock.

Hedge Funds Weigh In On Central Garden & Pet

Several hedge funds have recently made changes to their positions in CENTA. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Central Garden & Pet by 3.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,048 shares of the company's stock valued at $431,000 after acquiring an additional 398 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Central Garden & Pet during the fourth quarter worth $2,090,000. Credit Industriel ET Commercial acquired a new position in Central Garden & Pet during the fourth quarter worth $4,818,000. Public Employees Retirement System of Ohio raised its position in Central Garden & Pet by 6.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 53,494 shares of the company's stock worth $1,768,000 after acquiring an additional 3,069 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Central Garden & Pet by 23.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 111,167 shares of the company's stock valued at $3,674,000 after purchasing an additional 21,125 shares during the period. Hedge funds and other institutional investors own 50.82% 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.