Carderock Capital Management Inc. Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

Carderock Capital Management Inc. lifted its position in Cintas Co. (NASDAQ:CTAS) by 288.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,678 shares of the business services provider’s stock after acquiring an additional 47,271 shares during the quarter. Cintas accounts for approximately 3.1% of Carderock Capital Management Inc.’s investment portfolio, making the stock its 3rd largest holding. Carderock Capital Management Inc. owned approximately 0.06% of Cintas worth $13,110,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. LGT Financial Advisors LLC lifted its holdings in Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after buying an additional 28 shares during the period. Atwood & Palmer Inc. purchased a new stake in shares of Cintas during the 2nd quarter worth $27,000. Pathway Financial Advisers LLC bought a new stake in Cintas during the first quarter valued at about $29,000. Rise Advisors LLC purchased a new position in Cintas in the first quarter valued at about $30,000. Finally, Meeder Asset Management Inc. raised its holdings in Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after purchasing an additional 34 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CTAS shares. Stifel Nicolaus raised their price target on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Truist Financial raised their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Robert W. Baird upped their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Jefferies Financial Group lowered their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Finally, The Goldman Sachs Group upped their target price on Cintas from $212.00 to $236.00 and gave the company 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 assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas presently has a consensus rating of “Hold” and a consensus price target of $199.63.

Insider Activity

In related news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total transaction of $842,292.00. Following the completion of the transaction, the director now directly owns 125,808 shares in the company, valued at approximately $24,083,425.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.10% of the company’s stock.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $212.93 on Thursday. Cintas Co. has a 52 week low of $123.65 and a 52 week high of $213.40. The business’s 50 day moving average price is $213.58 and its 200 day moving average price is $188.37. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The firm has a market cap of $21.60 billion, a P/E ratio of 14.71, a P/E/G ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 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 the consensus estimate of $2.49 billion. During the same period in the prior year, the firm earned $3.70 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, sell-side analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a dividend of $0.39 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.73%. Cintas’s payout ratio is currently 10.77%.

Cintas declared that its board has authorized a share repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Cintas 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.