Central Garden & Pet Company $CENTA Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. raised its position in shares of Central Garden & Pet Company (NASDAQ:CENTA) by 152.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,215 shares of the company’s stock after buying an additional 733 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Central Garden & Pet were worth $38,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CENTA. The Manufacturers Life Insurance Company raised its stake in Central Garden & Pet by 108.0% during the first quarter. The Manufacturers Life Insurance Company now owns 756,270 shares of the company’s stock valued at $24,753,000 after buying an additional 392,672 shares in the last quarter. Armistice Capital LLC raised its stake in Central Garden & Pet by 28.8% during the first quarter. Armistice Capital LLC now owns 1,025,085 shares of the company’s stock valued at $33,551,000 after buying an additional 229,324 shares in the last quarter. American Century Companies Inc. raised its stake in Central Garden & Pet by 15.2% during the first quarter. American Century Companies Inc. now owns 1,581,900 shares of the company’s stock valued at $51,776,000 after buying an additional 208,800 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in Central Garden & Pet by 21.1% during the first quarter. Westwood Holdings Group Inc. now owns 1,164,376 shares of the company’s stock valued at $38,110,000 after buying an additional 202,761 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Central Garden & Pet during the first quarter valued at approximately $5,923,000. Institutional investors and hedge funds own 50.82% of the company’s stock.

Insider Buying and Selling

In related news, Director John Ranelli sold 3,076 shares of the 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 completion of the transaction, the director directly owned 1,427 shares of the company’s stock, valued at $46,491.66. This represents a 68.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 completion of the transaction, the insider directly owned 67,328 shares of the company’s stock, valued at $2,194,219.52. This trade represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 20.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wall Street Zen upgraded Central Garden & Pet from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 20th. JPMorgan Chase & Co. cut their price objective on Central Garden & Pet from $35.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Central Garden & Pet in a report on Wednesday, October 8th. Zacks Research raised Central Garden & Pet from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Finally, Canaccord Genuity Group upped their target price on Central Garden & Pet from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.33.

Central Garden & Pet Stock Up 1.2%

NASDAQ:CENTA opened at $29.01 on Monday. The firm has a market capitalization of $1.82 billion, a PE ratio of 13.19 and a beta of 0.63. The stock has a 50 day moving average of $30.65 and a 200-day moving average of $31.73. Central Garden & Pet Company has a 52 week low of $25.97 and a 52 week high of $37.35. The company has a current ratio of 3.56, a quick ratio of 2.28 and a debt-to-equity ratio of 0.75.

Central Garden & Pet (NASDAQ:CENTA) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.22. Central Garden & Pet had a return on equity of 10.77% and a net margin of 4.44%.The business had revenue of $960.91 million during the quarter, compared to analyst estimates of $993.66 million. Analysts predict that Central Garden & Pet Company will post 2.38 EPS for the current year.

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.