Geode Capital Management LLC Sells 8,865 Shares of Central Garden & Pet (NASDAQ:CENTA)

Geode Capital Management LLC reduced its stake in shares of Central Garden & Pet (NASDAQ:CENTA - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 883,449 shares of the company's stock after selling 8,865 shares during the period. Geode Capital Management LLC owned 1.35% of Central Garden & Pet worth $29,208,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Smartleaf Asset Management LLC increased its stake in Central Garden & Pet by 668.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 930 shares of the company's stock valued at $31,000 after acquiring an additional 809 shares during the period. Venturi Wealth Management LLC acquired a new position in Central Garden & Pet in the fourth quarter valued at about $102,000. KBC Group NV grew its stake in Central Garden & Pet by 50.1% in the fourth quarter. KBC Group NV now owns 3,606 shares of the company's stock valued at $119,000 after acquiring an additional 1,204 shares during the period. Summit Financial Strategies Inc. acquired a new position in shares of Central Garden & Pet during the fourth quarter worth about $237,000. Finally, Pictet Asset Management Holding SA boosted its position in shares of Central Garden & Pet by 32.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 7,412 shares of the company's stock worth $245,000 after buying an additional 1,813 shares during the period. 50.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CENTA shares. StockNews.com raised shares of Central Garden & Pet from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Argus downgraded Central Garden & Pet from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered their price objective on Central Garden & Pet from $34.00 to $31.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Central Garden & Pet currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

Insider Transactions at Central Garden & Pet

In other 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 20.28% of the company's stock.

Central Garden & Pet Price Performance

NASDAQ:CENTA traded up $0.33 during midday trading on Wednesday, hitting $31.29. The company had a trading volume of 17,046 shares, compared to its average volume of 308,466. The stock's fifty day moving average price is $31.76 and its 200-day moving average price is $31.84. Central Garden & Pet has a 52-week low of $27.70 and a 52-week high of $41.03. The company has a quick ratio of 1.97, a current ratio of 3.47 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $2.05 billion, a PE ratio of 17.19 and a beta of 0.75.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last issued its 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 return on equity of 10.08% and a net margin of 3.77%. As a group, research analysts expect that Central Garden & Pet will post 2.38 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.