Empowered Funds LLC Takes Position in Central Garden & Pet (NASDAQ:CENTA)

Empowered Funds LLC purchased a new stake in shares of Central Garden & Pet (NASDAQ:CENTA) in the third quarter, HoldingsChannel reports. The institutional investor purchased 242,700 shares of the company’s stock, valued at approximately $7,621,000.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Central Garden & Pet by 30.2% in the 1st quarter. Vanguard Group Inc. now owns 5,636,319 shares of the company’s stock worth $208,093,000 after buying an additional 1,306,309 shares during the last quarter. Champlain Investment Partners LLC lifted its position in Central Garden & Pet by 24.8% in the 1st quarter. Champlain Investment Partners LLC now owns 2,303,369 shares of the company’s stock worth $85,040,000 after buying an additional 457,699 shares during the last quarter. American Century Companies Inc. lifted its position in Central Garden & Pet by 43.0% in the 2nd quarter. American Century Companies Inc. now owns 941,509 shares of the company’s stock worth $31,098,000 after buying an additional 283,045 shares during the last quarter. LSV Asset Management lifted its position in Central Garden & Pet by 85.8% in the 2nd quarter. LSV Asset Management now owns 439,066 shares of the company’s stock worth $14,502,000 after buying an additional 202,761 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Central Garden & Pet in the 2nd quarter worth approximately $5,508,000. Institutional investors own 50.82% of the company’s stock.

Central Garden & Pet Price Performance

Shares of Central Garden & Pet stock opened at $31.63 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. The business’s 50 day simple moving average is $30.81 and its two-hundred day simple moving average is $33.47. The stock has a market capitalization of $2.13 billion, a P/E ratio of 14.58 and a beta of 0.73. Central Garden & Pet has a one year low of $27.70 and a one year high of $41.03.

Insider Activity

In related news, Chairman William E. Brown sold 60,000 shares of Central Garden & Pet stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the sale, the chairman now directly owns 1,125,773 shares in the company, valued at $37,758,426.42. The trade was a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Ranelli sold 2,500 shares of Central Garden & Pet stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $34.28, for a total value of $85,700.00. Following the sale, the director now owns 822 shares in the company, valued at $28,178.16. This represents a 75.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 20.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. StockNews.com downgraded Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. dropped their target price on Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Two investment 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 an average rating of “Buy” and an average price target of $41.33.

Central Garden & Pet Company Profile

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.