Comerica Bank Increases Stock Position in Central Garden & Pet Co (NASDAQ:CENT)

Comerica Bank lifted its holdings in Central Garden & Pet Co (NASDAQ:CENT) by 143.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,037 shares of the company’s stock after buying an additional 14,745 shares during the period. Comerica Bank’s holdings in Central Garden & Pet were worth $684,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Mint Tower Capital Management B.V. bought a new stake in shares of Central Garden & Pet in the 1st quarter worth about $50,000. Huntington National Bank raised its stake in shares of Central Garden & Pet by 27.9% during the 2nd quarter. Huntington National Bank now owns 1,973 shares of the company’s stock worth $53,000 after purchasing an additional 430 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Central Garden & Pet by 611.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,405 shares of the company’s stock worth $61,000 after purchasing an additional 2,067 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Central Garden & Pet by 32.2% during the 2nd quarter. Advisor Group Inc. now owns 3,062 shares of the company’s stock worth $82,000 after purchasing an additional 745 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Central Garden & Pet during the 1st quarter worth about $107,000. Hedge funds and other institutional investors own 22.51% of the company’s stock.

In other Central Garden & Pet news, Director Thomas J. Colligan bought 4,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $21.92 per share, for a total transaction of $87,680.00. Following the purchase, the director now directly owns 9,079 shares of the company’s stock, valued at $199,011.68. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brooks Pennington III sold 1,644 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $26.24, for a total value of $43,138.56. Following the completion of the transaction, the director now owns 42,023 shares in the company, valued at approximately $1,102,683.52. The disclosure for this sale can be found here. Company insiders own 12.60% of the company’s stock.

CENT has been the subject of a number of recent research reports. BidaskClub raised Central Garden & Pet from a “hold” rating to a “buy” rating in a research note on Friday. SunTrust Banks downgraded Central Garden & Pet from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $34.33.

Shares of NASDAQ CENT traded down $0.10 during mid-day trading on Friday, hitting $28.44. 134,996 shares of the stock traded hands, compared to its average volume of 148,526. The company has a debt-to-equity ratio of 0.67, a current ratio of 4.84 and a quick ratio of 3.17. Central Garden & Pet Co has a twelve month low of $22.40 and a twelve month high of $40.59. The company has a market cap of $1.64 billion, a PE ratio of 14.89 and a beta of -0.04. The firm has a 50 day simple moving average of $25.90 and a two-hundred day simple moving average of $27.52.

Central Garden & Pet (NASDAQ:CENT) last announced its earnings results on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.06). Central Garden & Pet had a return on equity of 9.66% and a net margin of 4.30%. The company had revenue of $706.60 million for the quarter, compared to the consensus estimate of $685.99 million. During the same period in the prior year, the business earned $0.79 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities research analysts anticipate that Central Garden & Pet Co will post 1.73 earnings per share for the current fiscal year.

About Central Garden & Pet

Central Garden & Pet Company, together with its subsidiaries, produces and distributes 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 supplies products for dogs and cats, including edible bones, edible and non-edible chews, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and products for birds, small animals, and specialty pets, such as food, cages and habitats, toys, chews, and related accessories.

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Institutional Ownership by Quarter for Central Garden & Pet (NASDAQ:CENT)

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