Truist Financial Corp Trims Stake in Central Garden & Pet (NASDAQ:CENTA) – Analyst Ratings, Insider Activity, and Company Profile

Truist Financial Corp, a major financial institution, recently reduced its stake in Central Garden & Pet, a leading company in the lawn and garden, and pet supplies markets. The firm sold 4.0% of its shares in Central Garden & Pet during the 4th quarter, amounting to 463 shares. This move brought Truist Financial Corp’s total holdings in the company to 11,024 shares, valued at $485,000.

This change in ownership is part of a larger trend among institutional investors and hedge funds. Several other firms have also made adjustments to their positions in Central Garden & Pet. For example, CQS US LLC increased its stake by 370.9% in the third quarter, while Assenagon Asset Management S.A. raised its holdings by 99.2%. Overall, institutional investors now own 50.82% of the company’s stock.

In terms of analyst ratings, Central Garden & Pet has received positive feedback from several research analysts. StockNews.com upgraded the company from a “hold” rating to a “buy” rating, while other firms like Monness Crespi & Hardt and Truist Financial have also raised their price targets for the stock. As a result, Central Garden & Pet currently has an average rating of “Moderate Buy” and an average target price of $41.75.

Despite these changes, Central Garden & Pet’s stock has remained relatively stable, trading up 0.3% on Friday. The company has a market capitalization of $2.67 billion and a P/E ratio of 17.85. Additionally, insider activity has been notable, with CAO Howard Machek recently selling 10,000 shares of the company’s stock.

Central Garden & Pet Company 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.

Overall, the recent changes in ownership and positive analyst ratings suggest that Central Garden & Pet is a company to watch in the coming months. Investors may want to keep an eye on further developments in the company’s stock and performance.