Alpha Family Trust Purchases 1,665 Shares of Cintas Co. (NASDAQ:CTAS)

Alpha Family Trust increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the third quarter, Holdings Channel reports. The firm owned 2,220 shares of the business services provider’s stock after buying an additional 1,665 shares during the quarter. Alpha Family Trust’s holdings in Cintas were worth $457,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Checchi Capital Advisers LLC grew its stake in shares of Cintas by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after purchasing an additional 14 shares during the period. Axxcess Wealth Management LLC grew its stake in Cintas by 0.5% in the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after acquiring an additional 14 shares during the period. Field & Main Bank grew its stake in Cintas by 25.0% in the second quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 15 shares during the period. Drive Wealth Management LLC grew its stake in Cintas by 3.7% in the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after acquiring an additional 16 shares during the period. Finally, TIAA Trust National Association grew its stake in Cintas by 1.2% in the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock valued at $954,000 after acquiring an additional 16 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Performance

CTAS opened at $215.20 on Friday. Cintas Co. has a 52-week low of $136.50 and a 52-week high of $227.35. The firm has a market capitalization of $86.79 billion, a PE ratio of 54.34, a PEG ratio of 4.24 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The business’s 50-day simple moving average is $221.49 and its 200 day simple moving average is $195.50.

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

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.72%. Cintas’s dividend payout ratio is 39.39%.

Cintas announced that its board has initiated a stock repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of research analyst reports. UBS Group boosted their target price on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Truist Financial boosted their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Barclays upped their price objective on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Royal Bank of Canada upped their price objective on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Finally, The Goldman Sachs Group upped their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $199.63.

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.