Central Garden & Pet (NASDAQ:CENTA) Short Interest Update

Central Garden & Pet (NASDAQ:CENTA) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 890,000 shares, an increase of 13.0% from the November 30th total of 787,500 shares. Based on an average trading volume of 315,300 shares, the days-to-cover ratio is currently 2.8 days.

Analysts Set New Price Targets

CENTA has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Central Garden & Pet from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. StockNews.com cut Central Garden & Pet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $41.33.

Central Garden & Pet Stock Performance

NASDAQ:CENTA traded down $0.40 on Monday, reaching $32.90. 147,942 shares of the company’s stock were exchanged, compared to its average volume of 285,634. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 20.33 and a beta of 0.78. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19. The stock has a fifty day simple moving average of $32.52 and a 200-day simple moving average of $32.62. Central Garden & Pet has a 52 week low of $27.70 and a 52 week high of $41.03.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CENTA. Quarry LP grew its position in shares of Central Garden & Pet by 503.2% during the 2nd quarter. Quarry LP now owns 754 shares of the company’s stock valued at $25,000 after purchasing an additional 629 shares in the last quarter. Federated Hermes Inc. purchased a new position in Central Garden & Pet during the second quarter worth about $26,000. Quest Partners LLC bought a new position in Central Garden & Pet in the 2nd quarter worth about $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Central Garden & Pet in the 2nd quarter valued at about $61,000. Finally, CWM LLC boosted its position in shares of Central Garden & Pet by 72.6% during the 3rd quarter. CWM LLC now owns 1,957 shares of the company’s stock valued at $61,000 after acquiring an additional 823 shares during the last quarter. Hedge funds and other institutional investors own 50.82% of the company’s stock.

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.