Cintas Co. (NASDAQ:CTAS) Position Increased by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 276.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,864 shares of the business services provider’s stock after buying an additional 38,812 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Cintas were worth $10,884,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Alecta Tjanstepension Omsesidigt grew its holdings 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 worth $335,552,000 after acquiring an additional 1,222,500 shares during the last quarter. Congress Asset Management Co. boosted its position in shares of Cintas by 295.6% in the 3rd 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 during the period. SG Americas Securities LLC boosted its position in shares of Cintas by 3,302.1% in the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock valued at $103,194,000 after purchasing an additional 486,500 shares during the period. Bank Pictet & Cie Europe AG increased its stake in Cintas by 300.0% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock worth $105,170,000 after purchasing an additional 383,124 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in Cintas by 305.4% during the 3rd quarter. Raymond James & Associates now owns 484,068 shares of the business services provider’s stock worth $99,660,000 after buying an additional 364,659 shares during the period. Institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on CTAS shares. Truist Financial lifted their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Stifel Nicolaus lifted their price objective on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Robert W. Baird boosted their target price on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note 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 research report on Thursday, September 26th. Finally, Wells Fargo & Company upped their price target on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Down 0.9 %

CTAS stock traded down $1.78 during trading hours on Thursday, hitting $206.07. The company’s stock had a trading volume of 161,495 shares, compared to its average volume of 1,451,392. The stock has a 50 day moving average price of $217.38 and a two-hundred day moving average price of $191.29. Cintas Co. has a 12 month low of $125.62 and a 12 month high of $215.37. The company has a market capitalization of $20.91 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping 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 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 prior year, the business posted $3.70 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. On average, equities research analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s payout ratio is 10.77%.

Cintas announced that its board has initiated a share buyback plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors 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.