SpiderRock Advisors LLC Increases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

SpiderRock Advisors LLC grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 325.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,299 shares of the business services provider’s stock after purchasing an additional 15,524 shares during the period. SpiderRock Advisors LLC’s holdings in Cintas were worth $4,179,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CTAS. Allspring Global Investments Holdings LLC lifted its position in shares of Cintas by 343.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock worth $22,976,000 after purchasing an additional 86,460 shares during the last quarter. Creative Planning lifted its holdings in Cintas by 34.4% during the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after buying an additional 4,957 shares during the last quarter. Western Financial Corp CA boosted its position in shares of Cintas by 628.2% during the 3rd quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock worth $2,429,000 after acquiring an additional 10,177 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in shares of Cintas by 2,063.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock valued at $16,666,000 after acquiring an additional 22,700 shares during the last quarter. Finally, Searle & CO. increased its holdings in shares of Cintas by 300.0% in the 3rd quarter. Searle & CO. now owns 7,200 shares of the business services provider’s stock valued at $1,482,000 after acquiring an additional 5,400 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. The Goldman Sachs Group increased their target price on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Jefferies Financial Group reduced their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Barclays raised their price objective on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, Truist Financial upped their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $199.63.

Cintas Stock Up 2.8 %

Shares of NASDAQ:CTAS opened at $225.72 on Friday. Cintas Co. has a fifty-two week low of $131.24 and a fifty-two week high of $227.24. 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’s 50-day simple moving average is $219.35 and its 200-day simple moving average is $193.39. The company has a market cap of $91.03 billion, a price-to-earnings ratio of 57.00, a PEG ratio of 4.27 and a beta of 1.32.

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 company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.70 EPS. As a group, equities research analysts predict that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.69%. Cintas’s payout ratio is currently 39.39%.

Cintas announced that its Board of Directors has approved a stock buyback plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership 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.