Aubrey Capital Management Ltd Has $3.89 Million Position in Cintas Co. (NASDAQ:CTAS)

Aubrey Capital Management Ltd grew its holdings in Cintas Co. (NASDAQ:CTAS) by 243.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,900 shares of the business services provider’s stock after acquiring an additional 13,400 shares during the period. Cintas accounts for approximately 1.5% of Aubrey Capital Management Ltd’s holdings, making the stock its 24th largest position. Aubrey Capital Management Ltd’s holdings in Cintas were worth $3,891,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Impax Asset Management Group plc increased its position in shares of Cintas by 211.1% during the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after purchasing an additional 1,648,350 shares in the last quarter. Alecta Tjanstepension Omsesidigt grew its position in shares of Cintas by 300.0% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after purchasing an additional 1,222,500 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Cintas by 211.6% in the third quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider’s stock valued at $234,826,000 after purchasing an additional 774,551 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Cintas by 291.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 889,402 shares of the business services provider’s stock valued at $183,110,000 after buying an additional 662,431 shares during the last quarter. Finally, Congress Asset Management Co. grew its stake in Cintas by 295.6% in the third quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock valued at $161,531,000 after purchasing an additional 586,271 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTAS has been the subject of several research reports. Jefferies Financial Group cut their price target on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Truist Financial boosted their price target on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Royal Bank of Canada lifted their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Finally, Stifel Nicolaus increased their price target on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Cintas presently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Performance

NASDAQ:CTAS opened at $223.62 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average price of $220.75 and a 200 day moving average price of $194.79. Cintas Co. has a 12-month low of $135.07 and a 12-month high of $227.35. The stock has a market capitalization of $90.19 billion, a P/E ratio of 56.47, a P/E/G ratio of 4.43 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the firm posted $3.70 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Equities research analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, November 15th. Cintas’s payout ratio is 39.39%.

Cintas announced that its board has authorized a stock repurchase program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Cintas Company Profile

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.