BNP Paribas Financial Markets Lowers Stake in Central Garden & Pet, Wall Street Analysts Forecast Growth, Trading Down 1.9%, Insider Buying and Selling, Central Garden & Pet Profile, See Also

BNP Paribas Financial Markets, a major financial institution, recently reduced its stake in Central Garden & Pet by 17.7% during the fourth quarter, according to a disclosure with the Securities and Exchange Commission (SEC). The fund sold 4,719 shares, leaving them with 21,924 shares valued at $966,000. This move comes as several other hedge funds have also been active in trading Central Garden & Pet stock.

GAMMA Investing LLC, Brighton Jones LLC, Jump Financial LLC, and Hsbc Holdings PLC have all acquired positions in Central Garden & Pet in recent months. Additionally, Lazard Asset Management LLC increased its stake in the company by 200.5% during the third quarter. Overall, hedge funds and other institutional investors now own 50.82% of the company’s stock.

Wall Street analysts have been optimistic about Central Garden & Pet’s growth potential. Several research firms have raised their price targets and ratings for the stock, with a consensus rating of “Buy” and an average price target of $41.75.

Despite this positive outlook, Central Garden & Pet’s stock has been trading down 1.9% recently. The company reported strong earnings in its latest quarterly report, beating expectations with an EPS of $0.99. Analysts predict that Central Garden & Pet will post 2.28 EPS for the current year.

In terms of insider activity, CAO Howard Machek and insider John D. Walker III have both recently sold shares of Central Garden & Pet. Machek sold 10,000 shares at an average price of $40.05, while Walker sold 4,218 shares at $40.31. Corporate insiders now own 20.28% of the company’s stock.

Central Garden & Pet, which operates in the lawn and garden, and pet supplies markets, has a market cap of $2.58 billion. The company’s Pet segment provides a wide range of products for pets, including supplies for dogs, cats, aquatics, small animals, and more.

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