Central Garden & Pet (NASDAQ:CENT) Short Interest Up 11.9% in December

Central Garden & Pet (NASDAQ:CENT) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,970,000 shares, a growth of 11.9% from the December 15th total of 1,760,000 shares. Based on an average trading volume of 123,000 shares, the short-interest ratio is currently 16.0 days. Currently, 21.9% of the shares of the company are sold short.

Analysts Set New Price Targets

CENT has been the topic of several analyst reports. Argus lowered shares of Central Garden & Pet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Canaccord Genuity Group lowered their target price on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, Truist Financial reduced their price target on Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. One analyst has rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $46.75.

Institutional Investors Weigh In On Central Garden & Pet

Institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. lifted its stake in Central Garden & Pet by 24.5% during the second quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock valued at $6,262,000 after purchasing an additional 32,009 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Central Garden & Pet during the 2nd quarter valued at $51,000. Dimensional Fund Advisors LP lifted its position in shares of Central Garden & Pet by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 777,297 shares of the company’s stock valued at $29,926,000 after acquiring an additional 5,571 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Central Garden & Pet during the 2nd quarter worth $207,000. Finally, Inspire Investing LLC grew its holdings in shares of Central Garden & Pet by 10.3% in the 2nd quarter. Inspire Investing LLC now owns 9,247 shares of the company’s stock worth $356,000 after acquiring an additional 861 shares during the last quarter. 16.13% of the stock is owned by institutional investors and hedge funds.

Central Garden & Pet Price Performance

Shares of NASDAQ CENT traded down $0.06 during mid-day trading on Friday, reaching $36.26. 52,724 shares of the company traded hands, compared to its average volume of 130,949. Central Garden & Pet has a fifty-two week low of $32.17 and a fifty-two week high of $47.48. The firm has a market cap of $2.38 billion, a PE ratio of 22.41 and a beta of 0.79. The stock has a fifty day simple moving average of $38.70 and a 200-day simple moving average of $37.80. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.66 and a quick ratio of 2.19.

Central Garden & Pet (NASDAQ:CENT) last issued its quarterly earnings results on Monday, November 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.04. The company had revenue of $669.49 million for the quarter, compared to analysts’ expectations of $707.83 million. Central Garden & Pet had a return on equity of 9.31% and a net margin of 3.37%. The firm’s revenue for the quarter was down 10.8% on a year-over-year basis. Equities research analysts anticipate that Central Garden & Pet will post 2.22 EPS for the current fiscal year.

Central Garden & Pet Company Profile

Central Garden & Pet Company produces and distributes various products for the lawn and garden, and pet supplies markets in the United States. It operates through two segments: Pet and Garden. The Pet segment provides 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, and food and supplements; products for equine and livestock; animal and household health and insect control products; aquariums and terrariums, including fixtures and stands, water conditioners and supplements, water pumps and filters, and lighting systems and accessories; and live fish and small animals, as well as outdoor cushions.