Short Interest in Central Garden & Pet (NASDAQ:CENT) Increases By 11.9%

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

Central Garden & Pet Stock Down 0.2 %

CENT opened at $36.26 on Monday. Central Garden & Pet has a 1 year low of $32.17 and a 1 year high of $47.48. The firm has a 50 day moving average price of $38.70 and a 200 day moving average price of $37.80. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.19 and a current ratio of 3.66. The company has a market cap of $2.38 billion, a PE ratio of 22.41 and a beta of 0.79.

Central Garden & Pet (NASDAQ:CENT) last released its quarterly earnings data on Monday, November 25th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.04. Central Garden & Pet had a net margin of 3.37% and a return on equity of 9.31%. The company had revenue of $669.49 million during the quarter, compared to analyst estimates of $707.83 million. The business’s revenue was down 10.8% compared to the same quarter last year. Sell-side analysts expect that Central Garden & Pet will post 2.22 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on CENT. Argus cut 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 decreased their price target on Central Garden & Pet from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Finally, Truist Financial cut their price objective on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. One investment 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. Based on data from MarketBeat, Central Garden & Pet presently has a consensus rating of “Buy” and an average price target of $46.75.

Hedge Funds Weigh In On Central Garden & Pet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in Central Garden & Pet by 693.6% in the 4th quarter. Versant Capital Management Inc now owns 1,246 shares of the company’s stock worth $48,000 after acquiring an additional 1,089 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Central Garden & Pet by 73.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 35,228 shares of the company’s stock worth $1,285,000 after purchasing an additional 14,964 shares during the last quarter. Franklin Resources Inc. raised its holdings in Central Garden & Pet by 29.0% during the third quarter. Franklin Resources Inc. now owns 4,521 shares of the company’s stock valued at $157,000 after buying an additional 1,016 shares in the last quarter. Barclays PLC lifted its holdings in Central Garden & Pet by 51.4% in the 3rd quarter. Barclays PLC now owns 34,944 shares of the company’s stock worth $1,275,000 after purchasing an additional 11,865 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Central Garden & Pet during the 3rd quarter worth $258,000. 16.13% of the stock is currently owned by hedge funds and other institutional investors.

About Central Garden & Pet

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.