Central Garden & Pet Co (NASDAQ:CENT) Stock Position Reduced by Morgan Stanley

Morgan Stanley cut its stake in shares of Central Garden & Pet Co (NASDAQ:CENT) by 47.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,419 shares of the company’s stock after selling 24,529 shares during the period. Morgan Stanley’s holdings in Central Garden & Pet were worth $754,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Rhumbline Advisers grew its position in Central Garden & Pet by 1.0% in the first quarter. Rhumbline Advisers now owns 39,667 shares of the company’s stock worth $1,091,000 after acquiring an additional 403 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Central Garden & Pet by 1.1% in the first quarter. Thrivent Financial for Lutherans now owns 36,885 shares of the company’s stock worth $1,014,000 after acquiring an additional 410 shares in the last quarter. First Quadrant L P CA grew its position in Central Garden & Pet by 9.1% in the first quarter. First Quadrant L P CA now owns 5,058 shares of the company’s stock worth $139,000 after acquiring an additional 423 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Central Garden & Pet by 11.1% in the first quarter. BNP Paribas Arbitrage SA now owns 4,285 shares of the company’s stock worth $118,000 after acquiring an additional 428 shares in the last quarter. Finally, Eqis Capital Management Inc. grew its position in Central Garden & Pet by 2.8% in the first quarter. Eqis Capital Management Inc. now owns 21,527 shares of the company’s stock worth $641,000 after acquiring an additional 579 shares in the last quarter. 17.70% of the stock is owned by institutional investors.

Several analysts have commented on CENT shares. BidaskClub downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. SunTrust Banks boosted their price objective on shares of Central Garden & Pet from $30.00 to $35.00 and gave the stock a “hold” rating in a research note on Thursday, May 14th. Zacks Investment Research cut shares of Central Garden & Pet from a “buy” rating to a “hold” rating and set a $35.00 price objective for the company. in a research note on Thursday, April 30th. Finally, TheStreet upgraded shares of Central Garden & Pet from a “c” rating to a “b-” rating in a research note on Wednesday, May 6th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $34.33.

In related news, CAO Howard Machek sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $33.80, for a total transaction of $169,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 33,278 shares in the company, valued at approximately $1,124,796.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas J. Colligan sold 10,079 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $31.92, for a total transaction of $321,721.68. Following the transaction, the director now owns 705 shares of the company’s stock, valued at $22,503.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,893 shares of company stock valued at $901,993. Corporate insiders own 12.60% of the company’s stock.

Shares of Central Garden & Pet stock opened at $37.86 on Friday. The firm has a fifty day simple moving average of $35.59 and a 200-day simple moving average of $32.38. The company has a current ratio of 3.81, a quick ratio of 2.36 and a debt-to-equity ratio of 0.77. Central Garden & Pet Co has a 1-year low of $22.40 and a 1-year high of $38.98. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 25.23 and a beta of 0.35.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.02. The business had revenue of $703.23 million during the quarter, compared to analysts’ expectations of $693.21 million. Central Garden & Pet had a net margin of 3.57% and a return on equity of 8.69%. As a group, research analysts predict that Central Garden & Pet Co will post 1.61 earnings per share for the current year.

Central Garden & Pet Profile

Central Garden & Pet Company, together with its subsidiaries, produces and distributes 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 supplies products for dogs and cats, including edible bones, edible and non-edible chews, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and products for birds, small animals, and specialty pets, such as food, cages and habitats, toys, chews, and related accessories.

Further Reading: What Are Treasury Bonds?

Want to see what other hedge funds are holding CENT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Central Garden & Pet Co (NASDAQ:CENT).

Institutional Ownership by Quarter for Central Garden & Pet (NASDAQ:CENT)

Receive News & Ratings for Central Garden & Pet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Central Garden & Pet and related companies with MarketBeat.com's FREE daily email newsletter.