Central Garden & Pet (NASDAQ:CENTA) Trading Down 5.2% – Time to Sell?

Central Garden & Pet (NASDAQ:CENTA) fell 5.2% during trading on Friday . The stock traded as low as $30.70 and last traded at $30.74. Approximately 316,399 shares changed hands during trading, an increase of 15% from the average daily volume of 275,854 shares. The stock had previously closed at $32.42.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Central Garden & Pet from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Argus downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, StockNews.com raised Central Garden & Pet from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Central Garden & Pet Trading Down 5.9 %

The company has a current ratio of 3.47, a quick ratio of 1.97 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $2.00 billion, a P/E ratio of 16.78 and a beta of 0.70. The stock’s fifty day moving average price is $31.82 and its two-hundred day moving average price is $31.98.

Central Garden & Pet (NASDAQ:CENTA) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.24. Central Garden & Pet had a return on equity of 10.08% and a net margin of 3.77%. Equities research analysts forecast that Central Garden & Pet will post 2.38 EPS for the current year.

Insider Buying and Selling at Central Garden & Pet

In other news, insider John D. Walker III sold 10,000 shares of Central Garden & Pet stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $32.86, for a total value of $328,600.00. Following the sale, the insider now directly owns 67,111 shares in the company, valued at approximately $2,205,267.46. This trade represents a 12.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 20.28% of the company’s stock.

Institutional Investors Weigh In On Central Garden & Pet

Several institutional investors and hedge funds have recently modified their holdings of the stock. Highbridge Capital Management LLC grew its stake in shares of Central Garden & Pet by 89.8% in the 4th quarter. Highbridge Capital Management LLC now owns 685,847 shares of the company’s stock worth $22,667,000 after buying an additional 324,493 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Central Garden & Pet by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 5,979,003 shares of the company’s stock worth $197,606,000 after acquiring an additional 306,449 shares during the last quarter. Norges Bank bought a new position in shares of Central Garden & Pet during the fourth quarter valued at $8,245,000. American Century Companies Inc. raised its position in shares of Central Garden & Pet by 14.1% in the 4th quarter. American Century Companies Inc. now owns 1,373,100 shares of the company’s stock worth $45,381,000 after purchasing an additional 170,121 shares during the last quarter. Finally, Credit Industriel ET Commercial bought a new position in Central Garden & Pet in the 4th quarter worth about $4,818,000. 50.82% of the stock is owned by hedge funds and other institutional investors.

About Central Garden & Pet

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.