Central Garden & Pet (NASDAQ:CENTA) Posts Earnings Results, Misses Expectations By $0.06 EPS

Central Garden & Pet (NASDAQ:CENTA) posted its earnings results on Thursday. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.06), Morningstar.com reports. Central Garden & Pet had a net margin of 4.19% and a return on equity of 9.92%. The firm had revenue of $706.58 million for the quarter, compared to analysts’ expectations of $689.17 million.

Shares of Central Garden & Pet stock traded down $5.85 on Friday, reaching $21.37. The company’s stock had a trading volume of 1,184,778 shares, compared to its average volume of 227,139. The firm has a market capitalization of $1.61 billion, a P/E ratio of 11.19, a P/E/G ratio of 3.79 and a beta of 0.04. Central Garden & Pet has a 52-week low of $20.97 and a 52-week high of $40.81. The business has a 50-day simple moving average of $25.61. The company has a debt-to-equity ratio of 0.69, a current ratio of 4.52 and a quick ratio of 2.79.

Several analysts recently commented on the stock. BidaskClub upgraded shares of Central Garden & Pet from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Zacks Investment Research raised shares of Central Garden & Pet from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $36.00 price objective (down previously from $44.00) on shares of Central Garden & Pet in a research report on Friday. Finally, KeyCorp lowered their target price on shares of Central Garden & Pet from $39.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Central Garden & Pet presently has a consensus rating of “Hold” and a consensus target price of $39.60.

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in Central Garden & Pet by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 512,204 shares of the company’s stock worth $16,006,000 after buying an additional 23,396 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Central Garden & Pet by 10.0% in the 4th quarter. Geode Capital Management LLC now owns 552,672 shares of the company’s stock valued at $17,271,000 after purchasing an additional 50,265 shares during the period. Two Sigma Investments LP acquired a new position in shares of Central Garden & Pet in the 4th quarter valued at about $294,000. Two Sigma Advisers LP boosted its position in shares of Central Garden & Pet by 54.7% during the 4th quarter. Two Sigma Advisers LP now owns 10,173 shares of the company’s stock valued at $318,000 after purchasing an additional 3,595 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Central Garden & Pet by 22.9% during the 4th quarter. Bank of America Corp DE now owns 248,564 shares of the company’s stock valued at $7,767,000 after purchasing an additional 46,396 shares in the last quarter. 66.22% of the stock is owned by institutional investors and hedge funds.

Central Garden & Pet Company Profile

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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Earnings History for Central Garden & Pet (NASDAQ:CENTA)

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