Tokio Marine Asset Management Co. Ltd. Lowers Holdings in Central Garden & Pet (NASDAQ:CENT)

Tokio Marine Asset Management Co. Ltd. trimmed its position in Central Garden & Pet (NASDAQ:CENT) by 5.0% in the 3rd quarter, Holdings Channel reports. The firm owned 15,300 shares of the company’s stock after selling 800 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Central Garden & Pet were worth $558,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new position in shares of Central Garden & Pet during the second quarter worth about $51,000. Point72 Asset Management L.P. bought a new stake in Central Garden & Pet during the second quarter valued at approximately $113,000. SG Americas Securities LLC purchased a new position in Central Garden & Pet in the 3rd quarter worth approximately $111,000. EntryPoint Capital LLC increased its holdings in shares of Central Garden & Pet by 909.2% in the 1st quarter. EntryPoint Capital LLC now owns 4,269 shares of the company’s stock worth $183,000 after buying an additional 3,846 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Central Garden & Pet during the 2nd quarter valued at $187,000. 16.13% of the stock is currently owned by hedge funds and other institutional investors.

Central Garden & Pet Trading Up 0.4 %

Shares of CENT opened at $36.92 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.16 and a current ratio of 3.66. Central Garden & Pet has a fifty-two week low of $30.75 and a fifty-two week high of $47.48. The firm has a 50 day moving average price of $35.78 and a 200-day moving average price of $38.86. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 17.01 and a beta of 0.75.

Insider Buying and Selling

In related news, Director John Ranelli sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $34.28, for a total transaction of $85,700.00. Following the transaction, the director now directly owns 822 shares in the company, valued at $28,178.16. This trade represents a 75.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $33.54, for a total value of $2,012,400.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 9.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CENT has been the subject of several research reports. Truist Financial cut their target price on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $48.00 price target on shares of Central Garden & Pet in a research note on Monday, September 30th. Three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Central Garden & Pet currently has an average rating of “Buy” and a consensus price target of $47.50.

Central Garden & Pet Company 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.