Caprock Group LLC Buys 23,716 Shares of Cintas Co. (NASDAQ:CTAS)

Caprock Group LLC raised its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 306.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,444 shares of the business services provider's stock after buying an additional 23,716 shares during the quarter. Caprock Group LLC's holdings in Cintas were worth $6,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTAS. LGT Financial Advisors LLC lifted its stake in Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider's stock worth $26,000 after purchasing an additional 28 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in Cintas during the second quarter worth about $27,000. Pathway Financial Advisers LLC bought a new position in Cintas in the 1st quarter worth about $29,000. Meeder Asset Management Inc. raised its holdings in shares of Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider's stock valued at $34,000 after acquiring an additional 34 shares in the last quarter. Finally, Crewe Advisors LLC boosted its position in shares of Cintas by 133.3% during the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider's stock valued at $39,000 after acquiring an additional 32 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Up 0.8 %

CTAS traded up $1.77 during midday trading on Tuesday, reaching $217.97. 1,231,473 shares of the company's stock traded hands, compared to its average volume of 1,450,172. The stock has a market capitalization of $87.91 billion, a price-to-earnings ratio of 55.04, a P/E/G ratio of 4.24 and a beta of 1.32. Cintas Co. has a 52 week low of $136.50 and a 52 week high of $227.35. The firm has a fifty day moving average of $222.07 and a two-hundred day moving average of $196.41. 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 (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.70 EPS. On average, equities analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, November 15th. Cintas's dividend payout ratio is currently 39.39%.

Cintas declared that its board has initiated a share repurchase program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CTAS shares. Redburn Atlantic began coverage on shares of Cintas in a research note on Friday, August 9th. They issued a "neutral" rating and a $167.50 target price on the stock. Barclays upped their target price on shares of Cintas from $210.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, September 27th. Truist Financial raised their price target on Cintas from $212.50 to $225.00 and gave the company a "buy" rating in a research report on Tuesday, September 17th. The Goldman Sachs Group upped their price objective on Cintas from $212.00 to $236.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada raised their price objective on Cintas from $181.00 to $215.00 and gave the company a "sector perform" rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Cintas presently has an average rating of "Hold" and an average target price of $199.63.

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.