Quest Partners LLC Invests $797,000 in Central Garden & Pet (NASDAQ:CENT)

Quest Partners LLC bought a new stake in shares of Central Garden & Pet (NASDAQ:CENT) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 21,858 shares of the company’s stock, valued at approximately $797,000.

Several other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC purchased a new stake in shares of Central Garden & Pet during the third quarter worth about $1,681,000. GSA Capital Partners LLP bought a new position in Central Garden & Pet in the 3rd quarter worth approximately $272,000. Allspring Global Investments Holdings LLC grew its holdings in Central Garden & Pet by 0.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 893,226 shares of the company’s stock valued at $32,576,000 after buying an additional 7,893 shares in the last quarter. Inspire Investing LLC raised its position in shares of Central Garden & Pet by 21.5% during the third quarter. Inspire Investing LLC now owns 11,235 shares of the company’s stock valued at $410,000 after buying an additional 1,988 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Central Garden & Pet in the third quarter worth $111,000. Institutional investors own 16.13% of the company’s stock.

Central Garden & Pet Stock Up 2.6 %

Shares of CENT opened at $38.36 on Friday. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.75. Central Garden & Pet has a 52-week low of $31.31 and a 52-week high of $47.48. The company has a market cap of $2.59 billion, a PE ratio of 17.69 and a beta of 0.75. The business has a fifty day moving average of $35.78 and a 200 day moving average of $38.75.

Insider Transactions at Central Garden & Pet

In other news, Chairman William E. Brown sold 60,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $33.54, for a total value of $2,012,400.00. Following the sale, the chairman now directly owns 1,125,773 shares in the company, valued at approximately $37,758,426.42. This represents a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 9.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CENT. Canaccord Genuity Group restated a “buy” rating and set a $48.00 price objective on shares of Central Garden & Pet in a research report on Monday, September 30th. Truist Financial reduced their price objective on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $47.50.

About Central Garden & Pet

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.