Pacer Advisors Inc. Sells 511,073 Shares of Central Garden & Pet (NASDAQ:CENT)

Pacer Advisors Inc. reduced its holdings in Central Garden & Pet (NASDAQ:CENT) by 15.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,747,414 shares of the company’s stock after selling 511,073 shares during the period. Pacer Advisors Inc. owned approximately 4.08% of Central Garden & Pet worth $100,198,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in Central Garden & Pet by 0.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 893,226 shares of the company’s stock valued at $32,576,000 after acquiring an additional 7,893 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Central Garden & Pet by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 777,297 shares of the company’s stock worth $29,926,000 after purchasing an additional 5,571 shares during the period. American Century Companies Inc. lifted its holdings in shares of Central Garden & Pet by 24.5% during the 2nd quarter. American Century Companies Inc. now owns 162,647 shares of the company’s stock worth $6,262,000 after acquiring an additional 32,009 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Central Garden & Pet by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 86,877 shares of the company’s stock valued at $3,345,000 after purchasing an additional 1,873 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Central Garden & Pet by 748.5% in the second quarter. Marshall Wace LLP now owns 84,000 shares of the company’s stock worth $3,234,000 after acquiring an additional 74,100 shares during the last quarter. 16.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on CENT shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $48.00 price target on shares of Central Garden & Pet in a research report on Monday, September 30th. Truist Financial lowered their price target on shares of Central Garden & Pet from $50.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Central Garden & Pet currently has a consensus rating of “Buy” and an average target price of $47.50.

Central Garden & Pet Price Performance

Shares of Central Garden & Pet stock opened at $38.36 on Friday. The business’s 50 day simple moving average is $35.78 and its two-hundred day simple moving average is $38.75. The stock has a market capitalization of $2.59 billion, a P/E ratio of 17.69 and a beta of 0.75. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.66 and a quick ratio of 2.16. Central Garden & Pet has a one year low of $31.31 and a one year high of $47.48.

Insider Activity

In other news, Chairman William E. Brown sold 60,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $33.54, for a total transaction of $2,012,400.00. Following the transaction, the chairman now directly owns 1,125,773 shares of the company’s stock, valued at $37,758,426.42. This represents a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 9.53% of the stock is currently owned by company insiders.

Central Garden & Pet Profile

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.