Anchor Investment Management LLC Grows Position in Cintas Co. (NASDAQ:CTAS)

Anchor Investment Management LLC grew its position in Cintas Co. (NASDAQ:CTAS) by 299.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,294 shares of the business services provider’s stock after purchasing an additional 1,720 shares during the period. Anchor Investment Management LLC’s holdings in Cintas were worth $472,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. LGT Financial Advisors LLC raised its position in Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the period. Financial Management Professionals Inc. grew its stake in shares of Cintas by 341.4% in the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 99 shares in the last quarter. Hollencrest Capital Management raised its holdings in shares of Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 104 shares during the period. Addison Advisors LLC lifted its position in Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after acquiring an additional 114 shares in the last quarter. Finally, Grove Bank & Trust boosted its holdings in Cintas by 1,340.0% in the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after acquiring an additional 134 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday. UBS Group lifted their price target on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Truist Financial boosted their price objective on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Royal Bank of Canada raised their target price 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, Robert W. Baird boosted their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $200.77.

Cintas Stock Performance

CTAS stock opened at $211.22 on Friday. The stock’s 50 day simple moving average is $215.13 and its 200 day simple moving average is $201.91. Cintas Co. has a 12-month low of $138.39 and a 12-month high of $228.12. The firm has a market cap of $85.19 billion, a P/E ratio of 53.34, a P/E/G ratio of 4.15 and a beta of 1.33. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share 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 firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the firm earned $3.70 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities research analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.74%. Cintas’s dividend payout ratio is currently 39.39%.

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.