Invesco Ltd. Trims Position in Central Garden & Pet (NASDAQ:CENTA)

Invesco Ltd. lessened its position in shares of Central Garden & Pet (NASDAQ:CENTA - Free Report) by 28.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 390,426 shares of the company's stock after selling 156,954 shares during the quarter. Invesco Ltd. owned about 0.60% of Central Garden & Pet worth $12,904,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of Central Garden & Pet by 161.7% during the third quarter. Barclays PLC now owns 122,530 shares of the company's stock valued at $3,849,000 after acquiring an additional 75,718 shares in the last quarter. Denali Advisors LLC acquired a new position in Central Garden & Pet during the 4th quarter valued at approximately $1,573,000. Principal Financial Group Inc. raised its holdings in shares of Central Garden & Pet by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 268,331 shares of the company's stock worth $8,868,000 after buying an additional 8,889 shares during the last quarter. Highbridge Capital Management LLC raised its holdings in shares of Central Garden & Pet by 89.8% in the fourth quarter. Highbridge Capital Management LLC now owns 685,847 shares of the company's stock worth $22,667,000 after buying an additional 324,493 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Central Garden & Pet during the fourth quarter worth $473,000. Hedge funds and other institutional investors own 50.82% of the company's stock.

Insider Activity

In related news, insider John D. Walker III sold 10,000 shares of the 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 completion of the transaction, the insider now directly owns 67,111 shares of the company's stock, valued at approximately $2,205,267.46. This represents a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 20.28% of the company's stock.

Central Garden & Pet Stock Performance

CENTA stock traded up $0.15 during midday trading on Wednesday, hitting $31.11. 256,842 shares of the stock traded hands, compared to its average volume of 309,268. The stock's fifty day simple moving average is $31.72 and its 200-day simple moving average is $31.84. The firm has a market cap of $2.04 billion, a P/E ratio of 17.09 and a beta of 0.75. Central Garden & Pet has a 1-year low of $27.70 and a 1-year high of $41.03. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.47 and a quick ratio of 1.97.

Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates 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, analysts expect that Central Garden & Pet will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

CENTA has been the topic of several research reports. JPMorgan Chase & Co. cut their target price on Central Garden & Pet from $34.00 to $31.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. StockNews.com upgraded Central Garden & Pet from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Finally, Argus downgraded Central Garden & Pet from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $41.00.

Central Garden & Pet Company Profile

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.