AMI Asset Management Corp Buys 109,427 Shares of Cintas Co. (NASDAQ:CTAS)

AMI Asset Management Corp grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 277.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 148,832 shares of the business services provider’s stock after acquiring an additional 109,427 shares during the quarter. AMI Asset Management Corp’s holdings in Cintas were worth $30,642,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CTAS. Pathway Financial Advisers LLC boosted its holdings in Cintas by 81,014.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 34,879 shares of the business services provider’s stock valued at $7,181,000 after acquiring an additional 34,836 shares during the period. Childress Capital Advisors LLC increased its stake in shares of Cintas by 287.4% in the 3rd quarter. Childress Capital Advisors LLC now owns 1,139 shares of the business services provider’s stock worth $235,000 after acquiring an additional 845 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its stake in shares of Cintas by 300.1% during the third quarter. Nicholas Hoffman & Company LLC. now owns 2,769 shares of the business services provider’s stock valued at $570,000 after purchasing an additional 2,077 shares in the last quarter. Fidelis Capital Partners LLC grew its stake in shares of Cintas by 355.8% in the 3rd quarter. Fidelis Capital Partners LLC now owns 6,564 shares of the business services provider’s stock worth $1,377,000 after buying an additional 5,124 shares during the last quarter. Finally, Andina Capital Management LLC grew its stake in shares of Cintas by 314.5% in the third quarter. Andina Capital Management LLC now owns 2,230 shares of the business services provider’s stock worth $459,000 after acquiring an additional 1,692 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Robert W. Baird raised their price objective on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. UBS Group raised their target price on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada boosted their price objective on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Finally, Truist Financial increased their price objective on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $209.14 on Wednesday. The company’s fifty day moving average price is $217.14 and its 200 day moving average price is $191.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a 1 year low of $124.07 and a 1 year high of $215.37. The company has a market capitalization of $21.22 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the business earned $3.70 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, research analysts predict that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. Cintas’s payout ratio is presently 10.77%.

Cintas announced that its Board of Directors has authorized a stock buyback plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Cintas

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.