Pictet Asset Management SA Makes New Investment in Central Garden & Pet (NASDAQ:CENTA)
Aug 01, 2023
Pictet Asset Management SA bought a new position in Central Garden & Pet (NASDAQ:CENTA - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,255 shares of the company's stock, valued at approximately $205,000.
Several other hedge funds also recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new position in shares of Central Garden & Pet during the 2nd quarter valued at about $42,000. Rebalance LLC acquired a new position in shares of Central Garden & Pet during the 4th quarter valued at about $107,000. Assetmark Inc. increased its holdings in shares of Central Garden & Pet by 31.0% during the 1st quarter. Assetmark Inc. now owns 2,731 shares of the company's stock valued at $107,000 after acquiring an additional 646 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Central Garden & Pet during the 4th quarter valued at about $118,000. Finally, UBS Group AG increased its holdings in shares of Central Garden & Pet by 262.1% during the 3rd quarter. UBS Group AG now owns 4,323 shares of the company's stock valued at $147,000 after acquiring an additional 3,129 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.
In related news, Director Brooks Pennington III sold 777 shares of the firm's stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $41.62, for a total transaction of $32,338.74. Following the completion of the transaction, the director now owns 2,940 shares in the company, valued at approximately $122,362.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Brooks Pennington III sold 777 shares of the firm's stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $41.62, for a total transaction of $32,338.74. Following the completion of the transaction, the director now owns 2,940 shares in the company, valued at approximately $122,362.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John D. Walker III sold 11,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $41.07, for a total value of $451,770.00. Following the transaction, the insider now owns 70,394 shares of the company's stock, valued at approximately $2,891,081.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,931 shares of company stock worth $2,052,054. 20.28% of the stock is currently owned by company insiders.
A number of research analysts have recently commented on CENTA shares. KeyCorp increased their price objective on Central Garden & Pet from $46.00 to $50.00 and gave the company an "overweight" rating in a report on Thursday, August 3rd. StockNews.com downgraded Central Garden & Pet from a "strong-buy" rating to a "buy" rating in a research note on Monday. Finally, TheStreet upgraded Central Garden & Pet from a "c+" rating to a "b" rating in a research note on Thursday, May 4th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $44.33.
Read Our Latest Stock Analysis on CENTA
Shares of CENTA stock opened at $41.64 on Thursday. The stock has a 50 day moving average of $38.81 and a two-hundred day moving average of $37.66. The company has a current ratio of 3.51, a quick ratio of 1.77 and a debt-to-equity ratio of 0.82. Central Garden & Pet has a 12 month low of $33.69 and a 12 month high of $45.93. The company has a market capitalization of $2.24 billion, a P/E ratio of 18.42 and a beta of 0.71.
Central Garden & Pet (NASDAQ:CENTA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $1.75 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.30. Central Garden & Pet had a return on equity of 9.59% and a net margin of 3.70%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. As a group, equities analysts expect that Central Garden & Pet will post 2.59 EPS for the current year.
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 grooming products, waste management and training pads, and pet containment; supplies for aquatics, small animals, reptiles, and pet birds, including toys, cages and habitats, bedding, and food and supplements; animal and household health and insect control products; live fish and products for fish, reptiles, and other aquarium-based pets, such as aquariums, furniture and lighting fixtures, pumps, filters, water conditioners, food, and supplements; and products for equine and livestock, as well as outdoor cushions.
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