Central Garden Pet Enhances Leadership and Ups Share Buyback

Central Garden Pet ( (CENT) ) has shared an announcement.

Central Garden & Pet Company has appointed Randal D. Lewis to its Board of Directors, bringing over 34 years of experience in consumer products, particularly from his tenure at Spectrum Brands Holdings, Inc. This strategic addition aims to enhance the company’s operational leadership and market expansion efforts in the pet and garden sectors. Additionally, the company announced a $100 million increase in its share repurchase authorization, bringing the total to approximately $130 million. This move reflects Central’s commitment to optimizing shareholder value and strategic financial management, although the actual number of shares to be repurchased remains uncertain.

More about Central Garden Pet

Central Garden & Pet Company is a leader in the pet and garden industries, with a commitment to nurturing happy and healthy homes for over 40 years. The company reported fiscal 2024 net sales of $3.2 billion and boasts a portfolio of more than 65 high-quality brands. It operates with strong manufacturing and distribution capabilities and a growth-focused culture, primarily across North America.

YTD Price Performance: 3.83%

Average Trading Volume: 122,744

Technical Sentiment Consensus Rating: Strong Sell

Current Market Cap: $2.35B

For detailed information about CENT stock, go to TipRanks’ Stock Analysis page.