Rutabaga Capital Managementma Lowers stake in Central Garden & Pet Co (CENT)

Central Garden & Pet Co (CENT) : Rutabaga Capital Managementma reduced its stake in Central Garden & Pet Co by 61.17% during the most recent quarter end. The investment management company now holds a total of 363,863 shares of Central Garden & Pet Co which is valued at $9,493,186 after selling 573,298 shares in Central Garden & Pet Co , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Central Garden & Pet Co makes up approximately 1.64% of Rutabaga Capital Managementma’s portfolio.

Other Hedge Funds, Including , Great West Life Assurance Co Can added CENT to its portfolio by purchasing 12,145 company shares during the most recent quarter which is valued at $316,863. California State Teachers Retirement System added CENT to its portfolio by purchasing 21,228 company shares during the most recent quarter which is valued at $553,839. Hanson Doremus Investment Management sold out all of its stake in CENT during the most recent quarter. The investment firm sold 17,660 shares of CENT which is valued $428,432. Solaris Asset Management added CENT to its portfolio by purchasing 1,550 company shares during the most recent quarter which is valued at $37,758. Central Garden & Pet Co makes up approx 0.03% of Solaris Asset Management’s portfolio.North Star Investment Management Corp. reduced its stake in CENT by selling 30,000 shares or 19.01% in the most recent quarter. The Hedge Fund company now holds 127,775 shares of CENT which is valued at $3,099,822. Central Garden & Pet Co makes up approx 0.56% of North Star Investment Management Corp.’s portfolio.

Central Garden & Pet Co opened for trading at $26.47 and hit $27.08 on the upside on Monday, eventually ending the session at $26.71, with a gain of 0.60% or 0.16 points. The heightened volatility saw the trading volume jump to 4,01,243 shares. Company has a market cap of $1,359 M.

On the company’s financial health, Central Garden & Pet Co reported $0.48 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.43. The company had revenue of $514.54 million for the quarter, compared to analysts expectations of $490.85 million. The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.

Central Garden & Pet Company is a marketer and producer of branded products. The Company is the supplier of pet and lawn and garden supplies industries in the United States. The Company operates in two segments: Garden Products and Pet Products. The Company’s pet supplies products include products for dogs and cats including edible bones premium healthy edible and non-edible chews super premium dog and cat food and treats toys pet carriers grooming supplies and other accessories; products for birds among others. The Company’s lawn and garden supplies products include proprietary and non-proprietary grass seed; wild bird feed bird feeders bird houses and other birding accessories; weed grass ant and other herbicide insecticide and pesticide products; and decorative outdoor lifestyle and lighting products including pottery trellises and other wood products and holiday lighting.

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