Pacer Advisors Inc. Lowers Holdings in Central Garden & Pet (NASDAQ:CENT)

Pacer Advisors Inc. reduced its position in shares of Central Garden & Pet (NASDAQ:CENT - Free Report) by 15.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,747,414 shares of the company's stock after selling 511,073 shares during the quarter. Pacer Advisors Inc. owned about 4.08% of Central Garden & Pet worth $100,198,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in shares of Central Garden & Pet during the third quarter valued at about $1,681,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Central Garden & Pet by 32.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,862 shares of the company's stock valued at $1,793,000 after acquiring an additional 10,237 shares in the last quarter. American Century Companies Inc. increased its position in shares of Central Garden & Pet by 24.5% during the second quarter. American Century Companies Inc. now owns 162,647 shares of the company's stock valued at $6,262,000 after acquiring an additional 32,009 shares during the last quarter. Marshall Wace LLP lifted its holdings in Central Garden & Pet by 748.5% during the second quarter. Marshall Wace LLP now owns 84,000 shares of the company's stock worth $3,234,000 after acquiring an additional 74,100 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Central Garden & Pet by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company's stock worth $3,345,000 after purchasing an additional 1,873 shares during the last quarter. Institutional investors own 16.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Truist Financial lowered their target price on Central Garden & Pet from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, October 16th. Canaccord Genuity Group reiterated a "buy" rating and issued a $48.00 price objective on shares of Central Garden & Pet in a research note on Monday, September 30th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $47.50.

Central Garden & Pet Trading Up 0.9 %

Shares of NASDAQ:CENT traded up $0.34 during midday trading on Friday, hitting $38.70. 97,924 shares of the stock traded hands, compared to its average volume of 114,338. Central Garden & Pet has a one year low of $31.31 and a one year high of $47.48. The stock has a market capitalization of $2.61 billion, a PE ratio of 17.85 and a beta of 0.75. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75. The business's 50 day moving average is $35.78 and its two-hundred day moving average is $38.73.

Insiders Place Their Bets

In other news, Chairman William E. Brown sold 60,000 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $33.54, for a total value 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. This represents a 5.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.53% of the stock is currently owned by company insiders.

Central Garden & Pet Company 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.