The Manufacturers Life Insurance Company Buys 392,672 Shares of Central Garden & Pet Company $CENTA

The Manufacturers Life Insurance Company raised its position in shares of Central Garden & Pet Company (NASDAQ:CENTA) by 108.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 756,270 shares of the company’s stock after buying an additional 392,672 shares during the quarter. The Manufacturers Life Insurance Company owned about 1.15% of Central Garden & Pet worth $24,753,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CENTA. Magnetar Financial LLC purchased a new position in Central Garden & Pet in the first quarter worth $236,000. State of Wyoming increased its position in Central Garden & Pet by 64.7% during the 1st quarter. State of Wyoming now owns 14,684 shares of the company’s stock valued at $481,000 after buying an additional 5,770 shares in the last quarter. Trexquant Investment LP purchased a new stake in Central Garden & Pet in the first quarter valued at about $974,000. Walleye Capital LLC purchased a new stake in shares of Central Garden & Pet during the first quarter worth about $1,386,000. Finally, Jump Financial LLC acquired a new position in shares of Central Garden & Pet during the first quarter valued at about $1,735,000. Institutional investors own 50.82% of the company’s stock.

Insider Activity at Central Garden & Pet

In other Central Garden & Pet news, insider John D. Walker III sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $32.59, for a total value of $114,065.00. Following the sale, the insider owned 67,328 shares in the company, valued at approximately $2,194,219.52. This represents a 4.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John Ranelli sold 3,076 shares of Central Garden & Pet stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $32.58, for a total transaction of $100,216.08. Following the transaction, the director directly owned 1,427 shares of the company’s stock, valued at approximately $46,491.66. This trade represents a 68.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 20.28% of the company’s stock.

Central Garden & Pet Stock Performance

Shares of NASDAQ CENTA opened at $33.03 on Tuesday. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 15.01 and a beta of 0.66. Central Garden & Pet Company has a 12 month low of $27.70 and a 12 month high of $37.35. The company has a 50 day simple moving average of $33.60 and a two-hundred day simple moving average of $32.20. The company has a current ratio of 3.56, a quick ratio of 2.28 and a debt-to-equity ratio of 0.75.

Central Garden & Pet (NASDAQ:CENTA) last posted its earnings results on Wednesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.22. Central Garden & Pet had a net margin of 4.44% and a return on equity of 10.77%. The company had revenue of $960.91 million during the quarter, compared to the consensus estimate of $993.66 million. As a group, analysts predict that Central Garden & Pet Company will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on CENTA shares. Wall Street Zen raised shares of Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Canaccord Genuity Group upped their target price on Central Garden & Pet from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $38.67.

Central Garden & Pet Company Profile

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish, and small animals, as well as outdoor cushions.