JPMorgan Chase & Co. Cuts Central Garden & Pet (NASDAQ:CENTA) Price Target to $31.00

Central Garden & Pet (NASDAQ:CENTA) had its price objective lowered by JPMorgan Chase & Co. from $34.00 to $31.00 in a report published on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the company. Argus cut Central Garden & Pet from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. StockNews.com upgraded shares of Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Central Garden & Pet Stock Up 1.2 %

NASDAQ CENTA opened at $31.72 on Friday. Central Garden & Pet has a 12 month low of $27.70 and a 12 month high of $41.03. The company has a current ratio of 3.47, a quick ratio of 1.97 and a debt-to-equity ratio of 0.78. The stock has a market cap of $2.08 billion, a PE ratio of 17.43 and a beta of 0.75. The stock’s 50 day moving average is $32.03 and its 200 day moving average is $31.81.

Central Garden & Pet (NASDAQ:CENTA) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.24. Central Garden & Pet had a net margin of 3.77% and a return on equity of 10.08%. Research analysts predict that Central Garden & Pet will post 2.38 EPS for the current fiscal year.

Insider Transactions at Central Garden & Pet

In related news, insider John D. Walker III sold 10,000 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $32.86, for a total transaction of $328,600.00. Following the transaction, the insider now directly owns 67,111 shares of the company’s stock, valued at $2,205,267.46. This represents a 12.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 20.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its holdings in shares of Central Garden & Pet by 33.8% in the third quarter. FMR LLC now owns 76,388 shares of the company’s stock valued at $2,399,000 after purchasing an additional 19,306 shares during the period. Captrust Financial Advisors raised its position in Central Garden & Pet by 34.4% during the 3rd quarter. Captrust Financial Advisors now owns 12,013 shares of the company’s stock worth $377,000 after buying an additional 3,078 shares during the last quarter. Verition Fund Management LLC purchased a new position in Central Garden & Pet during the 3rd quarter worth approximately $316,000. State Street Corp lifted its stake in Central Garden & Pet by 3.3% during the 3rd quarter. State Street Corp now owns 2,175,277 shares of the company’s stock valued at $68,304,000 after acquiring an additional 68,689 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Central Garden & Pet by 18.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 50,425 shares of the company’s stock valued at $1,583,000 after acquiring an additional 7,810 shares during the last quarter. Hedge funds and other institutional investors own 50.82% of the company’s stock.

About Central Garden & Pet

Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, garden, and pet supplies markets. It operates through the Pet and Garden segments. The Pet segment focuses on 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, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish and small animals as well as outdoor cushions.