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Growth Ahead for Central Garden & Pet

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Central Garden & Pet (NASDAQ:CENT) is not your garden variety consumer defensive stock. In recent years, the company has demonstrated a unique ability to go on offense by capitalizing on not one but two growing industries.

With exposure to the surging pet products industry as well as the healthy gardening market, Central Pet & Garden has blossomed into a formidable two-headed growth monster. Sales and profit growth have picked up over the last few years and appear destined to remain strong.

This far in fiscal 2021, Central Garden & Pet has delivered 47% EPS growth and consistently exceeded analyst expectations. Despite this and an upbeat outlook for the remainder of the year, the mid-cap stock is down 23% from its March 2021 peak. Given Central Garden & Pet’s two-pronged growth prospects, it’s time to think about cultivating a position.

As the company name suggests, Central Garden & Pet is a leading manufacturer and distributor of about 70 lawn & garden and pet brands. The name could technically be reversed though since the pet side of the business accounts for roughly 60% of revenue.

Central Garden & Pet makes branded and private label products in addition to distributing third-party brands. Since the company isn’t a retailer, it doesn’t compete with the likes of PetSmart, PETCO, and........

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