PNC Financial Services Group Inc. Boosts Stake in Central Garden & Pet Co (CENT)

PNC Financial Services Group Inc. grew its position in Central Garden & Pet Co (NASDAQ:CENT) by 1,595.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,070 shares of the company’s stock after purchasing an additional 57,467 shares during the quarter. PNC Financial Services Group Inc. owned about 0.12% of Central Garden & Pet worth $2,103,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. First Hawaiian Bank grew its position in Central Garden & Pet by 2.8% during the fourth quarter. First Hawaiian Bank now owns 12,198 shares of the company’s stock worth $420,000 after buying an additional 337 shares in the last quarter. Huntington National Bank grew its position in Central Garden & Pet by 41.4% during the fourth quarter. Huntington National Bank now owns 1,155 shares of the company’s stock worth $40,000 after buying an additional 338 shares in the last quarter. Prudential Financial Inc. grew its position in Central Garden & Pet by 4.5% during the fourth quarter. Prudential Financial Inc. now owns 17,626 shares of the company’s stock worth $607,000 after buying an additional 763 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Central Garden & Pet during the fourth quarter worth approximately $29,000. Finally, Arizona State Retirement System grew its position in Central Garden & Pet by 6.2% during the fourth quarter. Arizona State Retirement System now owns 15,898 shares of the company’s stock worth $548,000 after buying an additional 923 shares in the last quarter. 24.94% of the stock is currently owned by institutional investors.

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Shares of NASDAQ:CENT opened at $29.96 on Friday. The company has a market cap of $1.74 billion, a P/E ratio of 15.69 and a beta of 0.14. Central Garden & Pet Co has a 1 year low of $29.56 and a 1 year 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 issued its quarterly earnings results on Wednesday, February 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.06). Central Garden & Pet had a return on equity of 11.19% and a net margin of 4.44%. The company had revenue of $462.00 million for the quarter, compared to analyst estimates of $487.52 million. During the same period in the prior year, the company earned $0.19 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts anticipate that Central Garden & Pet Co will post 1.8 EPS for the current fiscal year.

In other Central Garden & Pet news, Director Brooks Pennington III sold 1,944 shares of the company’s stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $34.70, for a total transaction of $67,456.80. Following the completion of the sale, the director now directly owns 41,305 shares in the company, valued at $1,433,283.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.60% of the stock is owned by corporate insiders.

A number of equities research analysts recently issued reports on the company. BidaskClub raised Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Saturday, January 19th. TheStreet downgraded Central Garden & Pet from a “b” rating to a “c+” rating in a research report on Wednesday, February 27th. ValuEngine raised Central Garden & Pet from a “hold” rating to a “buy” rating in a research report on Tuesday, January 22nd. Finally, Argus reduced their price target on Central Garden & Pet from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $43.00.

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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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