Central Garden & Pet Co president sells $328k in stock

John D. Walker III, President of Garden Consumer Products at Central Garden & Pet Co (NASDAQ:CENT), recently executed a significant stock sale. On February 10, Walker sold 10,000 shares of Class A Common Stock, with prices ranging from $32.77 to $32.99, amounting to a total value of approximately $328,594. Following this transaction, Walker’s direct ownership of Class A Common Stock stands at 67,111 shares.

Additionally, Walker disposed of shares on February 9 and 10 to cover withholding tax liabilities upon the vesting of restricted stock. These transactions involved a total of 7,286 shares at a price of $32.79, equating to a combined value of $238,907. After these transactions, Walker holds 1,690 units indirectly through the company’s 401(k) plan. While this insider selling might raise questions, InvestingPro data reveals management has been actively buying back shares, and the company appears undervalued based on its Fair Value analysis. Get access to 8 more key insights and a comprehensive Pro Research Report covering CENT on InvestingPro.

In other recent news, Central Garden & Pet Company reported a strong fiscal first quarter, with earnings per share of $0.21 and revenue of $656 million, significantly outperforming analyst estimates. The company’s performance was boosted by increased shipments, productivity gains, and easing inflation, leading to growth in both its top and bottom lines compared to the same quarter last year. The Pet segment saw a 4% increase in net sales, while the Garden segment grew by 2%.

Despite the positive results, Central Garden & Pet maintained its fiscal 2025 guidance for non-GAAP EPS of $2.20 or better, slightly below analyst consensus. The company’s gross margin improved to 29.8% due to productivity gains and moderating inflation, and operating income grew to $28 million, with the operating margin expanding to 4.3%.

In other developments, Central Garden & Pet repurchased 1.68 million shares or $52 million of its stock during the quarter, with $131 million remaining available for future stock repurchases. These updates highlight recent developments in the company’s financial and operational status.

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