Quest Partners LLC Takes Position in Central Garden & Pet (NASDAQ:CENT)

Quest Partners LLC purchased a new stake in shares of Central Garden & Pet (NASDAQ:CENT - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 21,858 shares of the company's stock, valued at approximately $797,000.

A number of other institutional investors have also recently made changes to their positions in CENT. Marshall Wace LLP grew its holdings in shares of Central Garden & Pet by 748.5% during the second quarter. Marshall Wace LLP now owns 84,000 shares of the company's stock valued at $3,234,000 after buying an additional 74,100 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Central Garden & Pet by 6.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company's stock valued at $34,085,000 after buying an additional 51,454 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Central Garden & Pet during the third quarter valued at approximately $1,681,000. American Century Companies Inc. grew its holdings 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 buying an additional 32,009 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in 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 worth $1,793,000 after purchasing an additional 10,237 shares during the last quarter. Hedge funds and other institutional investors own 16.13% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CENT shares. Canaccord Genuity Group restated a "buy" rating and issued a $48.00 target price on shares of Central Garden & Pet in a report on Monday, September 30th. Truist Financial dropped their target price on shares of Central Garden & Pet from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Central Garden & Pet presently has an average rating of "Buy" and an average target price of $47.50.

Insiders Place Their Bets

In other news, Chairman William E. Brown sold 60,000 shares of the firm's stock in a transaction on Friday, August 30th. The shares were 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 in the company, valued at $37,758,426.42. This trade represents a 5.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.53% of the company's stock.

Central Garden & Pet Stock Performance

CENT traded up $0.34 during trading on Friday, hitting $38.70. The company's stock had a trading volume of 97,924 shares, compared to its average volume of 114,338. 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 has a one year low of $31.31 and a one year high of $47.48. The firm has a market cap of $2.61 billion, a PE ratio of 17.85 and a beta of 0.75. The business's 50 day simple moving average is $35.78 and its 200-day simple moving average is $38.73.

About Central Garden & Pet

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.