Creekmur Asset Management LLC Boosts Position in Cintas Co. (NASDAQ:CTAS)

Creekmur Asset Management LLC raised its position in Cintas Co. (NASDAQ:CTAS) by 518.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,773 shares of the business services provider’s stock after purchasing an additional 4,839 shares during the period. Creekmur Asset Management LLC’s holdings in Cintas were worth $1,189,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in 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 valued at $22,976,000 after acquiring an additional 86,460 shares in the last quarter. Creative Planning grew its position in shares of Cintas by 34.4% in the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after purchasing an additional 4,957 shares during the last quarter. Western Financial Corp CA increased its stake 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 purchasing an additional 10,177 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its stake in 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 buying an additional 22,700 shares in the last quarter. Finally, Searle & CO. lifted its stake in 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 buying an additional 5,400 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Cintas stock opened at $209.14 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. Cintas Co. has a 12 month low of $124.07 and a 12 month high of $215.37. The company has a market cap of $21.22 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The stock’s 50-day moving average is $217.14 and its 200-day moving average is $191.17.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.49 billion. During the same period in the previous year, the company posted $3.70 earnings per share. Cintas’s revenue was up 6.8% compared to the same quarter last year. Equities analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its Board of Directors has authorized a stock buyback program on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.75%. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CTAS shares. Wells Fargo & Company boosted their price target on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Barclays upped their target price on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. The Goldman Sachs Group lifted their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Redburn Atlantic started coverage on shares of Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective on the stock. Finally, 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 note on Tuesday, September 17th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $199.63.

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.