Central Garden & Pet (NASDAQ:CENT) Updates Fiscal 2022 Earnings Guidance
Central Garden & Pet (NASDAQ:CENT – Get Rating) updated its earnings guidance for fiscal 2022 on Wednesday. The company provided EPS guidance of $2.75 for the period, compared to the estimate consensus EPS of $3.11. The company released a revenue forecast of -.
Shares of CENT rose $0.33 on Wednesday, hitting $42.28. The stock recorded trading volume of 1,353 shares, compared to an average trading volume of 37,871 shares. The company has a 50-day moving average of $43.97 and a 200-day moving average of $46.08. The stock has a market capitalization of $2.33 billion, a price-earnings ratio of 15.31 and a beta of 0.54. The company has a debt ratio of 0.92, a current ratio of 2.85 and a quick ratio of 1.29. Central Garden & Pet has a 12-month low of $40.03 and a 12-month high of $57.32.
Central Garden & Pet (NASDAQ:CENT – Get Rating) last reported results on Wednesday, May 4. The company reported earnings per share of $1.27 for the quarter, beating analyst consensus estimates of $1.18 by $0.09. The company posted revenue of $954.37 million in the quarter, versus analyst estimates of $935.14 million. Central Garden & Pet had a net margin of 4.48% and a return on equity of 12.18%. As a group, research analysts expect Central Garden & Pet to post earnings per share of 3.14 for the current fiscal year.
Separately, Truist Financial lowered its price target on shares of Central Garden & Pet from $65.00 to $60.00 in a Tuesday, March 22 report.
Separately, CFO Nicholas Lahanas sold 7,306 shares of the company in a trade dated Friday, May 13. The stock was sold at an average price of $41.78, for a total value of $305,244.68. Following the completion of the transaction, the CFO now owns 113,520 shares of the company, valued at $4,742,865.60. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Insiders hold 8.80% of the shares of the company.
Hedge funds have recently changed their stakes in the company. Advisor Group Holdings Inc. increased its stake in shares of Central Garden & Pet by 43.5% during the first quarter. Advisor Group Holdings Inc. now owns 2,176 shares of the company valued at $96,000 after purchasing an additional 660 shares in the last quarter. The Swiss National Bank increased its stake in Central Garden & Pet by 7.1% in the first quarter. The Swiss National Bank now owns 22,750 shares of the company worth $1,000,000 after buying an additional 1,500 shares last quarter. Bank of New York Mellon Corp increased its stake in Central Garden & Pet by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 110,564 shares of the company worth $4,862,000 after buying 1,758 additional shares last quarter. Citigroup Inc. increased its stake in Central Garden & Pet by 9.0% in the first quarter. Citigroup Inc. now owns 14,464 shares of the company worth $636,000 after buying 1,189 more shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in Central Garden & Pet by 6.4% in the first quarter. MetLife Investment Management LLC now owns 4,731 shares of the company worth $208,000 after buying 285 additional shares in the last quarter. Institutional investors and hedge funds hold 18.59% of the company’s shares.
Central Garden & Pet Company Profile (Get a rating)
Central Garden & Pet Company produces and distributes various products for the lawn and garden and pet supply markets in the United States. It operates through two segments, Pet and Garden. The Pets segment provides dog and cat supplies, such as dog treats and chews, toys, pet beds and grooming products, waste management and training mats, and pet containment devices; supplies for aquatic animals, small animals, reptiles and pet birds, including toys, cages and habitats, bedding, food and supplements; animal and household health and insect control products; live fish and products for fish, reptiles and other aquarium pets, such as aquariums, furniture and fixtures, pumps, filters, water conditioners, foods and supplements; and products for horses and livestock, as well as outdoor cushions and pillows.
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