Nordea Investment Management AB Sells 6,160 Shares of Central Garden & Pet (NASDAQ:CENTA)

Posted by on May 11th, 2023

Nordea Investment Management AB lowered its holdings in shares of Central Garden & Pet (NASDAQ:CENTA – Get Rating) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,571 shares of the company’s stock after selling 6,160 shares during the period. Nordea Investment Management AB owned approximately 0.25% of Central Garden & Pet worth $4,901,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CENTA. Amalgamated Bank grew its holdings in shares of Central Garden & Pet by 3.7% during the third quarter. Amalgamated Bank now owns 19,070 shares of the company’s stock valued at $651,000 after buying an additional 680 shares during the last quarter. Victory Capital Management Inc. lifted its position in Central Garden & Pet by 43.0% during the third quarter. Victory Capital Management Inc. now owns 1,753,406 shares of the company’s stock valued at $59,897,000 after purchasing an additional 527,216 shares during the period. CX Institutional bought a new position in Central Garden & Pet during the fourth quarter valued at approximately $1,231,000. Olstein Capital Management L.P. lifted its position in Central Garden & Pet by 1.2% during the fourth quarter. Olstein Capital Management L.P. now owns 82,000 shares of the company’s stock valued at $2,936,000 after purchasing an additional 1,000 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in Central Garden & Pet by 129.4% during the third quarter. Cubist Systematic Strategies LLC now owns 36,089 shares of the company’s stock valued at $1,233,000 after purchasing an additional 20,360 shares during the period. Institutional investors own 69.21% of the company’s stock.

Insider Activity at Central Garden & Pet

In other Central Garden & Pet news, Chairman William E. Brown sold 115,671 shares of Central Garden & Pet stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $39.43, for a total value of $4,560,907.53. Following the completion of the transaction, the chairman now directly owns 923,445 shares of the company’s stock, valued at approximately $36,411,436.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 20.28% of the stock is currently owned by corporate insiders.

Central Garden & Pet Stock Up 0.6 %

Shares of CENTA stock opened at $35.88 on Thursday. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 17.17 and a beta of 0.69. The company’s fifty day moving average price is $37.28 and its 200-day moving average price is $38.06. Central Garden & Pet has a one year low of $33.69 and a one year high of $43.43. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.47 and a quick ratio of 1.44.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CENTA shares. TheStreet upgraded shares of Central Garden & Pet from a “c+” rating to a “b” rating in a research report on Thursday, May 4th. JPMorgan Chase & Co. decreased their price target on shares of Central Garden & Pet from $41.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. KeyCorp decreased their price target on shares of Central Garden & Pet from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 19th. Truist Financial decreased their price target on shares of Central Garden & Pet from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th. Finally, StockNews.com initiated coverage on shares of Central Garden & Pet in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.75.

Central Garden & Pet Profile

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Central Garden & Pet Co engages in the production and distribution of branded and private label products for the lawn, and garden and pet supplies markets. It operates through the following segments: Pets and Garden. The Pet segment includes dog and cat supplies such as dog treats and chews, toys, pet beds and grooming products, waste management and training pads, pet containment, supplies for aquatics, small animals, reptiles and pet birds including toys, cages and habitats, bedding, food and supplements, products for equine and livestock, animal and household health and insect control products, live fish and small animals as well as outdoor cushions.

Further Reading

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

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