Olstein Capital Management L.P. Has $3.06 Million Stake in Central Garden & Pet (NASDAQ:CENTA)

Olstein Capital Management L.P. increased its stake in Central Garden & Pet (NASDAQ:CENTA) by 13.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 83,000 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in Central Garden & Pet were worth $3,064,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC bought a new position in shares of Central Garden & Pet during the 4th quarter worth about $35,000. Brighton Jones LLC acquired a new stake in Central Garden & Pet in the fourth quarter valued at approximately $215,000. Virtu Financial LLC bought a new stake in shares of Central Garden & Pet during the fourth quarter valued at approximately $281,000. Hsbc Holdings PLC acquired a new position in shares of Central Garden & Pet during the third quarter worth approximately $331,000. Finally, Lazard Asset Management LLC lifted its holdings in shares of Central Garden & Pet by 200.5% in the 3rd quarter. Lazard Asset Management LLC now owns 8,310 shares of the company’s stock worth $333,000 after purchasing an additional 5,545 shares in the last quarter. Institutional investors and hedge funds own 50.82% of the company’s stock.

Central Garden & Pet Stock Down 0.5 %

Shares of CENTA stock traded down $0.18 on Wednesday, hitting $33.05. The stock had a trading volume of 109,414 shares, compared to its average volume of 258,501. Central Garden & Pet has a 12-month low of $27.88 and a 12-month high of $41.03. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 14.93 and a beta of 0.75. The business has a 50 day moving average of $36.26 and a 200 day moving average of $34.94. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.33 and a quick ratio of 1.68.

Central Garden & Pet (NASDAQ:CENTA) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.83 by $0.16. Central Garden & Pet had a net margin of 4.49% and a return on equity of 11.30%. The firm had revenue of $900.09 million during the quarter, compared to analyst estimates of $895.68 million. As a group, analysts expect that Central Garden & Pet will post 2.28 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on CENTA shares. Truist Financial boosted their price target on shares of Central Garden & Pet from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Monness Crespi & Hardt boosted their target price on shares of Central Garden & Pet from $39.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. StockNews.com cut shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Argus raised Central Garden & Pet to a “strong-buy” rating in a report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Central Garden & Pet currently has an average rating of “Moderate Buy” and an average target price of $41.75.

Insiders Place Their Bets

In related news, insider John D. Walker III sold 4,218 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $40.31, for a total transaction of $170,027.58. Following the completion of the sale, the insider now owns 85,063 shares in the company, valued at $3,428,889.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Central Garden & Pet news, insider John D. Walker III sold 4,218 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $40.31, for a total transaction of $170,027.58. Following the completion of the transaction, the insider now directly owns 85,063 shares of the company’s stock, valued at $3,428,889.53. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Howard Machek sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $40.05, for a total value of $400,500.00. Following the completion of the sale, the chief accounting officer now directly owns 51,474 shares of the company’s stock, valued at $2,061,533.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 714,218 shares of company stock valued at $25,945,528. Insiders own 20.28% of the company’s stock.

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.