Cintas Co. (NASDAQ:CTAS) Shares Acquired by Mount Lucas Management LP

Mount Lucas Management LP raised its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 119.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,268 shares of the business services provider's stock after acquiring an additional 4,496 shares during the period. Mount Lucas Management LP's holdings in Cintas were worth $1,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CTAS. LGT Financial Advisors LLC raised its position in Cintas by 311.1% in the 2nd 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 last quarter. Financial Management Professionals Inc. boosted its stake in shares of Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider's stock worth $26,000 after buying an additional 99 shares during the period. Hollencrest Capital Management grew its holdings in shares of Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider's stock worth $26,000 after buying an additional 104 shares during the last quarter. Atwood & Palmer Inc. acquired a new position in Cintas in the 2nd quarter valued at about $27,000. Finally, Addison Advisors LLC increased its position in Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider's stock valued at $28,000 after acquiring an additional 114 shares during the period. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Price Performance

Cintas stock traded down $1.46 during trading hours on Friday, hitting $215.20. The stock had a trading volume of 1,792,986 shares, compared to its average volume of 1,168,020. The stock has a market capitalization of $86.79 billion, a price-to-earnings ratio of 54.34, a PEG ratio of 4.24 and a beta of 1.32. 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 1-year low of $136.50 and a 1-year high of $227.35. The stock's fifty day moving average is $221.49 and its two-hundred day moving average is $195.50.

Cintas (NASDAQ:CTAS - Get Free Report) last posted 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 the consensus estimate of $2.49 billion. During the same period last year, the firm posted $3.70 EPS. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. As a group, analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas declared that its board has authorized a share 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 repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Cintas Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have weighed in on CTAS shares. Jefferies Financial Group lowered their target price on Cintas from $730.00 to $200.00 and set a "hold" rating on the stock 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 company a "buy" rating in a research note on Tuesday, September 17th. Redburn Atlantic assumed coverage on shares of Cintas in a report on Friday, August 9th. They issued a "neutral" rating and a $167.50 target price on the stock. Wells Fargo & Company increased their price target on shares of Cintas from $184.00 to $191.00 and gave the stock an "underweight" rating in a report on Thursday, September 26th. Finally, Robert W. Baird lifted their price objective on Cintas from $194.00 to $209.00 and gave the company a "neutral" rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $199.63.

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.