Short Interest in Central Garden & Pet (NASDAQ:CENTA) Rises By 16.5%

Central Garden & Pet (NASDAQ:CENTA) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 827,600 shares, an increase of 16.5% from the October 15th total of 710,400 shares. Based on an average daily volume of 311,300 shares, the days-to-cover ratio is presently 2.7 days.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CENTA. JPMorgan Chase & Co. dropped their price target on Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. StockNews.com downgraded shares of Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $41.33.

Insider Transactions at Central Garden & Pet

In other news, Chairman William E. Brown sold 60,000 shares of the business’s stock in a transaction 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 sale, the chairman now owns 1,125,773 shares of the company’s stock, valued at approximately $37,758,426.42. The trade was a 5.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Ranelli sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $34.28, for a total value of $85,700.00. Following the transaction, the director now directly owns 822 shares of the company’s stock, valued at $28,178.16. This represents a 75.26 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 20.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP lifted its stake in Central Garden & Pet by 503.2% in the second quarter. Quarry LP now owns 754 shares of the company’s stock valued at $25,000 after acquiring an additional 629 shares during the last quarter. Federated Hermes Inc. bought a new stake in Central Garden & Pet in the second quarter worth $26,000. CWM LLC increased its position in Central Garden & Pet by 3,558.1% during the second quarter. CWM LLC now owns 1,134 shares of the company’s stock worth $37,000 after buying an additional 1,103 shares during the last quarter. Quest Partners LLC bought a new position in Central Garden & Pet during the second quarter valued at about $37,000. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of Central Garden & Pet by 37.4% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 1,650 shares of the company’s stock valued at $61,000 after acquiring an additional 449 shares in the last quarter. 50.82% of the stock is owned by hedge funds and other institutional investors.

Central Garden & Pet Stock Up 0.3 %

NASDAQ CENTA traded up $0.09 during trading on Friday, reaching $31.63. 222,744 shares of the company’s stock were exchanged, compared to its average volume of 277,515. The company has a current ratio of 3.66, a quick ratio of 2.16 and a debt-to-equity ratio of 0.75. Central Garden & Pet has a fifty-two week low of $27.70 and a fifty-two week high of $41.03. The company’s fifty day simple moving average is $30.81 and its 200-day simple moving average is $33.47. The firm has a market capitalization of $2.13 billion, a PE ratio of 14.59 and a beta of 0.73.

About Central Garden & Pet

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.