Eqis Capital Management Inc. Trims Position in Central Garden & Pet Co (CENT)

Eqis Capital Management Inc. lowered its position in shares of Central Garden & Pet Co (NASDAQ:CENT) by 28.2% during the first quarter, Holdings Channel reports. The fund owned 34,822 shares of the company’s stock after selling 13,695 shares during the quarter. Eqis Capital Management Inc.’s holdings in Central Garden & Pet were worth $890,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. bought a new stake in Central Garden & Pet during the 4th quarter worth $29,000. Huntington National Bank grew its position in Central Garden & Pet by 33.6% during the 1st quarter. Huntington National Bank now owns 1,543 shares of the company’s stock worth $39,000 after acquiring an additional 388 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in Central Garden & Pet during the 4th quarter worth $100,000. Metropolitan Life Insurance Co. NY grew its position in Central Garden & Pet by 371.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,513 shares of the company’s stock worth $121,000 after acquiring an additional 2,768 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new stake in Central Garden & Pet during the 4th quarter worth $135,000. Institutional investors and hedge funds own 21.96% of the company’s stock.

A number of equities research analysts recently weighed in on the company. ValuEngine upgraded Central Garden & Pet from a “strong sell” rating to a “sell” rating in a research report on Monday, April 15th. BidaskClub lowered Central Garden & Pet from a “hold” rating to a “sell” rating in a research report on Thursday, February 14th. TheStreet downgraded Central Garden & Pet from a “b” rating to a “c+” rating in a report on Wednesday, February 27th. Finally, Argus cut their target price on Central Garden & Pet from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Central Garden & Pet has a consensus rating of “Hold” and an average target price of $41.00.

Shares of CENT opened at $25.96 on Friday. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 13.59 and a beta of -0.06. Central Garden & Pet Co has a 12 month low of $25.07 and a 12 month high of $45.02. The company has a debt-to-equity ratio of 0.72, a quick ratio of 3.12 and a current ratio of 5.10.

Central Garden & Pet (NASDAQ:CENT) last announced its earnings results on Wednesday, February 6th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.06). The company had revenue of $462.00 million for the quarter, compared to analyst estimates of $487.52 million. Central Garden & Pet had a return on equity of 11.19% and a net margin of 4.44%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share. On average, equities research analysts forecast that Central Garden & Pet Co will post 1.85 EPS for the current year.

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About Central Garden & Pet

Central Garden & Pet Company, together with its subsidiaries, produces and distributes 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 supplies products for dogs and cats, including edible bones, edible and non-edible chews, dog and cat food and treats, toys, pet carriers, grooming supplies, and other accessories; and products for birds, small animals, and specialty pets, such as food, cages and habitats, toys, chews, and related accessories.

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Institutional Ownership by Quarter for Central Garden & Pet (NASDAQ:CENT)

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