Short Interest in Central Garden & Pet (NASDAQ:CENT) Grows By 18.2%

Central Garden & Pet (NASDAQ:CENT) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,430,000 shares, a growth of 18.2% from the August 15th total of 1,210,000 shares. Based on an average daily volume of 125,000 shares, the days-to-cover ratio is presently 11.4 days. Currently, 15.0% of the shares of the company are short sold.

Central Garden & Pet Stock Down 1.6 %

Shares of CENT traded down $0.63 during midday trading on Tuesday, reaching $37.77. 91,696 shares of the stock were exchanged, compared to its average volume of 112,841. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 16.94 and a beta of 0.75. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75. Central Garden & Pet has a 12-month low of $30.75 and a 12-month high of $47.48. The firm has a 50 day simple moving average of $38.84 and a 200-day simple moving average of $40.69.

Central Garden & Pet (NASDAQ:CENT) last posted its earnings results on Wednesday, August 7th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.11. Central Garden & Pet had a net margin of 4.42% and a return on equity of 10.66%. The firm had revenue of $996.35 million during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the company earned $1.40 earnings per share. The company’s revenue was down 2.6% compared to the same quarter last year. Research analysts forecast that Central Garden & Pet will post 2.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CENT shares. Canaccord Genuity Group upgraded shares of Central Garden & Pet to a “strong-buy” rating in a report on Monday, July 1st. Canaccord Genuity Group reduced their target price on Central Garden & Pet from $52.00 to $49.00 and set a “buy” rating for the company in a report on Monday, July 1st. Finally, Argus raised shares of Central Garden & Pet from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, May 28th. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Central Garden & Pet has an average rating of “Buy” and an average target price of $52.75.

Insider Buying and Selling at Central Garden & Pet

In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total transaction of $48,740.80. Following the completion of the transaction, the director now owns 40,743 shares in the company, valued at approximately $1,336,370.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Central Garden & Pet news, Director Brooks Pennington III sold 1,486 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $32.80, for a total value of $48,740.80. Following the completion of the sale, the director now directly owns 40,743 shares in the company, valued at $1,336,370.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Ranelli sold 2,500 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $34.28, for a total value of $85,700.00. Following the completion of the sale, the director now directly owns 822 shares in the company, valued at approximately $28,178.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,986 shares of company stock worth $2,146,841. 9.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On Central Garden & Pet

Several institutional investors have recently bought and sold shares of CENT. Orchard Capital Management LLC grew its stake in Central Garden & Pet by 5.6% in the 4th quarter. Orchard Capital Management LLC now owns 169,107 shares of the company’s stock valued at $8,474,000 after buying an additional 8,914 shares during the last quarter. Principal Financial Group Inc. raised its position in Central Garden & Pet by 6.8% in the 1st quarter. Principal Financial Group Inc. now owns 53,039 shares of the company’s stock worth $2,272,000 after purchasing an additional 3,397 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Central Garden & Pet by 112.4% in the first quarter. BNP Paribas Financial Markets now owns 6,169 shares of the company’s stock valued at $264,000 after acquiring an additional 3,265 shares during the last quarter. Inspire Investing LLC raised its stake in shares of Central Garden & Pet by 9.3% during the first quarter. Inspire Investing LLC now owns 8,386 shares of the company’s stock worth $359,000 after buying an additional 712 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Central Garden & Pet by 92.6% during the 1st quarter. ProShare Advisors LLC now owns 51,117 shares of the company’s stock valued at $2,189,000 after acquiring an additional 24,575 shares during the last quarter. 16.13% of the stock is currently owned by institutional investors.

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.