Central Garden & Pet (NASDAQ:CENTA) shares purchased by IndexIQ Advisors LLC
IndexIQ Advisors LLC increased its holdings in Central Garden & Pet (NASDAQ:CENTA – Get Rating) by 19.7% during the first quarter, according to the company in its latest filing with the Securities and Exchange Commission. The fund held 9,745 shares of the company after buying an additional 1,607 shares during the period. IndexIQ Advisors LLC’s holdings in Central Garden & Pet were worth $397,000 at the end of the most recent reporting period.
Other hedge funds have also recently increased or reduced their stakes in the company. Advisor Group Holdings Inc. increased its equity stake in Central Garden & Pet by 49.7% in Q4. Advisor Group Holdings Inc. now owns 1,726 shares of the company worth $82,000 after purchasing an additional 573 shares during the period. KBC Group NV bought a new position in shares of Central Garden & Pet in the 1st quarter for a value of approximately $145,000. Profund Advisors LLC bought a new position in shares of Central Garden & Pet in Q4 for a value of approximately $215,000. SG Americas Securities LLC increased its equity stake in Central Garden & Pet by 151.9% in Q1. SG Americas Securities LLC now owns 7,241 shares of the company worth $295,000 after purchasing an additional 4,366 shares during the period. Finally, Keybank National Association OH bought a new position in shares of Central Garden & Pet in Q1 worth approximately $374,000. 68.74% of the shares are held by institutional investors and hedge funds.
Central Garden and Pet Stock Performance
Shares of NASDAQ:CENTA opened at $40.62 on Wednesday. The company has a market capitalization of $2.24 billion, a P/E ratio of 14.72 and a beta of 0.55. The company has a debt ratio of 0.88, a quick ratio of 1.45 and a current ratio of 3.16. Central Garden & Pet has a one-year low of $37.56 and a one-year high of $52.04. The company’s 50-day simple moving average is $40.58 and its 200-day simple moving average is $41.53.
Insider Activity at Central Garden & Pet
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 transaction of $305,244.68. Following the sale, the CFO now directly owns 113,520 shares of the company, valued at approximately $4,742,865.60. The sale was disclosed in a document filed with the SEC, accessible via this link. Insiders of the company own 20.28% of the shares of the company.
Analysts set new price targets
CENTA has been the subject of a number of research reports. JPMorgan Chase & Co. raised its price target on Central Garden & Pet from $47.00 to $49.00 in a Thursday, April 14 report. KeyCorp cut its price target on Central Garden & Pet from $56.00 to $52.00 and set an “overweight” rating on the stock in a Thursday, August 4 report. Finally, Truist Financial lowered its price target on Central Garden & Pet from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday.
Central Garden & Pet Company Profile
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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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