EMC Capital Management Makes New Investment in Central Garden & Pet Company $CENTA

EMC Capital Management acquired a new stake in Central Garden & Pet Company (NASDAQ:CENTA) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,795 shares of the company’s stock, valued at approximately $87,000.

Other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. increased its holdings in Central Garden & Pet by 152.1% in the second quarter. Cullen Frost Bankers Inc. now owns 1,215 shares of the company’s stock valued at $38,000 after buying an additional 733 shares during the last quarter. Magnetar Financial LLC acquired a new position in shares of Central Garden & Pet during the 1st quarter worth about $236,000. Brighton Jones LLC increased its holdings in shares of Central Garden & Pet by 14.6% in the 2nd quarter. Brighton Jones LLC now owns 7,895 shares of the company’s stock valued at $247,000 after acquiring an additional 1,008 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Central Garden & Pet by 3.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,088 shares of the company’s stock worth $253,000 after acquiring an additional 304 shares in the last quarter. Finally, Ethic Inc. purchased a new stake in Central Garden & Pet during the second quarter worth approximately $255,000. 50.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Central Garden & Pet news, Director John Ranelli sold 3,076 shares of Central Garden & Pet stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $32.58, for a total value of $100,216.08. Following the sale, the director owned 1,427 shares of the company’s stock, valued at approximately $46,491.66. The trade was a 68.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John D. Walker III sold 3,500 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $32.59, for a total value of $114,065.00. Following the transaction, the insider directly owned 67,328 shares of the company’s stock, valued at approximately $2,194,219.52. This trade represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 20.28% of the stock is currently owned by insiders.

Central Garden & Pet Stock Down 1.6%

Shares of NASDAQ:CENTA opened at $27.53 on Thursday. Central Garden & Pet Company has a fifty-two week low of $25.97 and a fifty-two week high of $37.35. The company has a quick ratio of 2.28, a current ratio of 3.56 and a debt-to-equity ratio of 0.75. The firm’s 50-day simple moving average is $28.97 and its 200-day simple moving average is $31.41. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 12.51 and a beta of 0.63.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CENTA. Wall Street Zen cut Central Garden & Pet from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Central Garden & Pet in a research note on Thursday, October 30th. JPMorgan Chase & Co. lowered their price target on Central Garden & Pet from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Zacks Research cut Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 24th. Finally, Canaccord Genuity Group increased their price objective on Central Garden & Pet from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.33.

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.