Russell Investments Group Ltd. boosted its holdings in Central Garden & Pet (NASDAQ:CENT) by 167.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,167 shares of the company’s stock after purchasing an additional 11,995 shares during the period. Russell Investments Group Ltd.’s holdings in Central Garden & Pet were worth $1,013,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Arbitrage SA lifted its position in shares of Central Garden & Pet by 38.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,170 shares of the company’s stock valued at $242,000 after buying an additional 1,157 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of Central Garden & Pet during the 1st quarter valued at $375,000. Rhumbline Advisers increased its stake in Central Garden & Pet by 1.4% in the 1st quarter. Rhumbline Advisers now owns 31,214 shares of the company’s stock worth $1,811,000 after acquiring an additional 432 shares during the last quarter. Bfsg LLC increased its stake in Central Garden & Pet by 55.9% in the 2nd quarter. Bfsg LLC now owns 51,547 shares of the company’s stock worth $2,728,000 after acquiring an additional 18,482 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in Central Garden & Pet by 197.4% in the 1st quarter. Acadian Asset Management LLC now owns 7,582 shares of the company’s stock worth $440,000 after acquiring an additional 5,033 shares during the last quarter. 17.98% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider John D. Walker III sold 4,500 shares of the stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $42.30, for a total value of $190,350.00. Following the completion of the transaction, the insider now owns 97,272 shares of the company’s stock, valued at approximately $4,114,605.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Ranelli sold 2,383 shares of the stock in a transaction that occurred on Tuesday, August 10th. The stock was sold at an average price of $43.62, for a total value of $103,946.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,599 shares of company stock valued at $327,698. Company insiders own 10.75% of the company’s stock.
Central Garden & Pet (NASDAQ:CENT) last released its quarterly earnings data on Wednesday, August 4th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.38. Central Garden & Pet had a return on equity of 15.62% and a net margin of 5.19%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $954.27 million. On average, equities research analysts predict that Central Garden & Pet will post 2.75 EPS for the current year.
Separately, Zacks Investment Research lowered Central Garden & Pet from a “strong-buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research note on Tuesday, May 25th.
Central Garden & Pet Profile
Central Garden & Pet Co is an innovator, producer and distributor of branded and private label products for the lawn & garden and pet supplies markets in the United States. Founded initially as a distribution company, it grew its business through a succession of over 50 acquisitions and created a broad portfolio which allows for economies of scale and market advantages.
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