Central Garden & Pet (NASDAQ:CENT) Issues Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Central Garden & Pet (NASDAQ:CENT) released its earnings results on Monday. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.18, Fidelity Earnings reports. Central Garden & Pet had a return on equity of 15.62% and a net margin of 5.19%. During the same period in the previous year, the company earned $0.25 EPS. Central Garden & Pet updated its FY 2022 guidance to $3.100-$ EPS.

Shares of Central Garden & Pet stock traded down $0.75 during trading on Wednesday, hitting $50.86. 257 shares of the company’s stock traded hands, compared to its average volume of 73,394. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.29 and a quick ratio of 2.07. Central Garden & Pet has a 1 year low of $36.53 and a 1 year high of $62.91. The stock has a market capitalization of $2.83 billion, a P/E ratio of 16.98 and a beta of 0.55. The business has a 50-day simple moving average of $50.66 and a 200-day simple moving average of $51.12.

In related news, insider John D. Walker III sold 4,500 shares of the stock in a transaction on Friday, August 27th. The stock was sold at an average price of $42.30, for a total transaction of $190,350.00. Following the sale, the insider now directly owns 97,272 shares of the company’s stock, valued at $4,114,605.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.75% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its holdings in Central Garden & Pet by 34.5% in the second quarter. Morgan Stanley now owns 35,970 shares of the company’s stock valued at $1,903,000 after acquiring an additional 9,219 shares during the period. Royal Bank of Canada lifted its holdings in Central Garden & Pet by 2.7% in the third quarter. Royal Bank of Canada now owns 15,760 shares of the company’s stock valued at $757,000 after acquiring an additional 421 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Central Garden & Pet by 145.2% in the third quarter. BNP Paribas Arbitrage SA now owns 10,505 shares of the company’s stock valued at $504,000 after acquiring an additional 6,221 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Central Garden & Pet by 7.0% in the third quarter. Bank of New York Mellon Corp now owns 107,412 shares of the company’s stock valued at $5,156,000 after acquiring an additional 7,065 shares during the period. 18.23% of the stock is currently owned by institutional investors.

About Central Garden & Pet

Central Garden & Pet Co is an innovator, producer and distributor of branded and private label products for the lawn & garden and pet supplies markets in the United States. Founded initially as a distribution company, it grew its business through a succession of over 50 acquisitions and created a broad portfolio which allows for economies of scale and market advantages.

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

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