ProShare Advisors LLC Sells 14,909 Shares of Central Garden & Pet (NASDAQ:CENT)

ProShare Advisors LLC reduced its stake in Central Garden & Pet (NASDAQ:CENT - Free Report) by 29.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 36,208 shares of the company's stock after selling 14,909 shares during the quarter. ProShare Advisors LLC owned approximately 0.05% of Central Garden & Pet worth $1,394,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CENT. DekaBank Deutsche Girozentrale acquired a new stake in shares of Central Garden & Pet in the second quarter valued at about $51,000. EntryPoint Capital LLC grew its holdings in Central Garden & Pet by 909.2% in the 1st quarter. EntryPoint Capital LLC now owns 4,269 shares of the company's stock valued at $183,000 after buying an additional 3,846 shares during the last quarter. Hsbc Holdings PLC bought a new position in Central Garden & Pet in the 2nd quarter worth approximately $207,000. BNP Paribas Financial Markets lifted its holdings in shares of Central Garden & Pet by 112.4% during the first quarter. BNP Paribas Financial Markets now owns 6,169 shares of the company's stock worth $264,000 after buying an additional 3,265 shares during the last quarter. Finally, Versor Investments LP bought a new stake in shares of Central Garden & Pet in the second quarter valued at approximately $270,000. Institutional investors own 16.13% of the company's stock.

Insider Transactions at Central Garden & Pet

In other news, Director Brooks Pennington III sold 1,486 shares of the business's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total transaction of $48,740.80. Following the completion of the sale, the director now owns 40,743 shares in the company, valued at $1,336,370.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Brooks Pennington III sold 1,486 shares of the firm's stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $32.80, for a total value of $48,740.80. Following the transaction, the director now owns 40,743 shares of the company's stock, valued at approximately $1,336,370.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman William E. Brown sold 60,000 shares of the business's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the sale, the chairman now directly owns 1,125,773 shares of the company's stock, valued at $37,758,426.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,986 shares of company stock worth $2,146,841. Corporate insiders own 9.53% of the company's stock.

Central Garden & Pet Stock Performance

Central Garden & Pet stock traded down $0.12 on Friday, hitting $36.65. The company's stock had a trading volume of 96,453 shares, compared to its average volume of 116,449. The company has a fifty day moving average price of $38.65 and a 200-day moving average price of $40.43. The firm has a market cap of $2.47 billion, a P/E ratio of 16.43 and a beta of 0.75. Central Garden & Pet has a one year low of $30.75 and a one year high of $47.48. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.11. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. The firm had revenue of $996.35 million during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the business posted $1.40 earnings per share. The company's quarterly revenue was down 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Central Garden & Pet will post 2.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CENT. Canaccord Genuity Group cut their target price on shares of Central Garden & Pet from $52.00 to $49.00 and set a "buy" rating for the company in a research note on Monday, July 1st. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a "strong-buy" rating in a research note on Monday, July 1st. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Central Garden & Pet presently has a consensus rating of "Buy" and an average target price of $52.75.

Central Garden & Pet Profile

Central Garden & Pet Company produces and distributes various products for the lawn and garden, and pet supplies markets in the United States. It operates through two segments: Pet and Garden. The Pet segment provides 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, and food and supplements; products for equine and livestock; animal and household health and insect control products; aquariums and terrariums, including fixtures and stands, water conditioners and supplements, water pumps and filters, and lighting systems and accessories; and live fish and small animals, as well as outdoor cushions.