State Street Corp Reduces Stake in Central Garden & Pet (NASDAQ:CENT)

State Street Corp trimmed its holdings in Central Garden & Pet (NASDAQ:CENT - Free Report) by 3.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 371,577 shares of the company's stock after selling 14,620 shares during the period. State Street Corp owned approximately 0.55% of Central Garden & Pet worth $13,551,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale purchased a new stake in shares of Central Garden & Pet in the 2nd quarter valued at approximately $51,000. Glenmede Trust Co. NA increased its holdings in Central Garden & Pet by 23.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,101 shares of the company's stock valued at $77,000 after purchasing an additional 395 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Central Garden & Pet in the third quarter valued at approximately $111,000. Point72 Asset Management L.P. acquired a new position in Central Garden & Pet during the second quarter worth $113,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Central Garden & Pet during the second quarter worth $187,000. Institutional investors and hedge funds own 16.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group cut their price objective on Central Garden & Pet from $48.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, November 26th. Truist Financial cut their price target on shares of 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. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Central Garden & Pet presently has a consensus rating of "Buy" and a consensus price target of $46.75.

Central Garden & Pet Stock Down 0.6 %

NASDAQ:CENT traded down $0.22 during midday trading on Thursday, reaching $39.21. The company had a trading volume of 65,576 shares, compared to its average volume of 118,536. Central Garden & Pet has a 12-month low of $32.17 and a 12-month high of $47.48. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 24.23 and a beta of 0.80. The company has a current ratio of 3.66, a quick ratio of 2.19 and a debt-to-equity ratio of 0.76. The stock's fifty day simple moving average is $37.99 and its 200-day simple moving average is $38.01.

Central Garden & Pet (NASDAQ:CENT - Get Free Report) last announced its quarterly earnings data on Monday, November 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.04. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%. The business had revenue of $669.49 million during the quarter, compared to analysts' expectations of $707.83 million. The company's revenue was down 10.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Central Garden & Pet will post 2.22 earnings per share for the current fiscal year.

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.