Nordea Investment Management AB buys 2,642 shares of Central Garden & Pet (NASDAQ: CENTA)
Nordea Investment Management AB increased its position in shares of Central Garden & Pet (NASDAQ:CENTA – Get Rating) by 1.6% in the first quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission. The institutional investor held 169,425 shares of the company after purchasing an additional 2,642 shares during the period. Nordea Investment Management AB’s holdings in Central Garden & Pet were worth $7,029,000 at the end of the last 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% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,726 shares of the company worth $82,000 after buying 573 additional shares in the last quarter. Profund Advisors LLC acquired a new stock position in Central Garden & Pet during Q4 for a value of approximately $215,000. Everhart Financial Group Inc. acquired a new position in shares of Central Garden & Pet during Q4 worth approximately $305,000. Teacher Retirement System of Texas increased its stake in shares of Central Garden & Pet by 21.3% during the 4th quarter. Teacher Retirement System of Texas now owns 7,853 shares of the company worth $376,000 after buying 1,379 additional shares in the last quarter. Finally, Wellington Management Group LLP increased its equity stake in Central Garden & Pet by 65.5% during the third quarter. Wellington Management Group LLP now owns 10,238 shares of the company worth $440,000 after purchasing an additional 4,053 shares in the last quarter. Hedge funds and other institutional investors own 68.74% of the company’s shares.
In other Central Garden & Pet news, Chief Financial Officer Nicholas Lahanas sold 7,306 shares of the company in a trade that took place on Friday, May 13. The shares were sold at an average price of $41.78, for a total transaction of $305,244.68. Following the completion of the sale, the CFO now directly owns 113,520 shares of the company, valued at $4,742,865.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders of the company own 20.28% of the shares of the company.
A number of stock analysts have recently commented on CENTA shares. StockNews.com began covering Central Garden & Pet stocks in a research note on Thursday, March 31. They set a “holding” rating for the company. JPMorgan Chase & Co. raised its price target on shares of Central Garden & Pet from $47.00 to $49.00 in a Thursday, April 14 research note. Finally, KeyCorp cut its price target on Central Garden & Pet shares from $62.00 to $56.00 and set an “overweight” rating for the company in a research note on Thursday.
Shares of NASDAQ:CENTA opened at $40.61 on Friday. Central Garden & Pet has a 52-week low of $37.56 and a 52-week high of $52.04. The company has a market capitalization of $2.24 billion, a P/E ratio of 14.82 and a beta of 0.57. The company has a 50-day simple moving average of $41.18 and a 200-day simple moving average of $42.65. The company has a debt ratio of 0.92, a quick ratio of 1.29 and a current ratio of 2.85.
Central Garden & Pet Inc (NASDAQ:CENTA – Get Rating) last released quarterly earnings data on Wednesday, May 4. The company reported earnings per share (EPS) of $1.27 for the quarter, beating the consensus estimate of $1.18 by $0.09. The company posted revenue of $954.37 million in the quarter, versus a consensus estimate 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, stock analysts expect Central Garden & Pet to post earnings per share of 2.75 for the current year.
About Central Garden & Pet (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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