Charles Schwab Investment Management Inc. Raises Stake in Central Garden & Pet (NASDAQ:CENT)

Charles Schwab Investment Management Inc. raised its position in Central Garden & Pet (NASDAQ:CENT) by 11.6% in the third quarter, Holdings Channel reports. The fund owned 112,305 shares of the company’s stock after buying an additional 11,671 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Central Garden & Pet were worth $4,096,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CENT. Marshall Wace LLP lifted its stake in Central Garden & Pet by 748.5% in the second quarter. Marshall Wace LLP now owns 84,000 shares of the company’s stock worth $3,234,000 after acquiring an additional 74,100 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Central Garden & Pet by 6.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 885,333 shares of the company’s stock worth $34,085,000 after acquiring an additional 51,454 shares during the last quarter. Empowered Funds LLC purchased a new position in Central Garden & Pet in the third quarter worth approximately $1,681,000. American Century Companies Inc. lifted its stake in Central Garden & Pet by 24.5% in the second quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock worth $6,262,000 after acquiring an additional 32,009 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Central Garden & Pet in the third quarter worth approximately $797,000. Hedge funds and other institutional investors own 16.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CENT shares. Canaccord Genuity Group cut their price objective on shares of Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Truist Financial cut their price objective on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $46.75.

Central Garden & Pet Stock Performance

Shares of Central Garden & Pet stock opened at $40.72 on Friday. The firm’s fifty day simple moving average is $36.87 and its 200-day simple moving average is $38.19. Central Garden & Pet has a 12 month low of $32.17 and a 12 month high of $47.48. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 25.14 and a beta of 0.81. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19.

Central Garden & Pet (NASDAQ:CENT) last released its quarterly earnings results on Monday, November 25th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.04. Central Garden & Pet had a net margin of 3.37% and a return on equity of 9.31%. The firm had revenue of $669.49 million during the quarter, compared to the consensus estimate of $707.83 million. The business’s revenue for the quarter was down 10.8% on a year-over-year basis. As a group, equities analysts forecast that Central Garden & Pet will post 2.22 earnings per share for the current year.

Central Garden & Pet 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.