Silvant Capital Management LLC Has $3.12 Million Position in Cintas Co. (NASDAQ:CTAS)

Silvant Capital Management LLC boosted its stake in Cintas Co. (NASDAQ:CTAS) by 260.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,173 shares of the business services provider’s stock after purchasing an additional 10,964 shares during the quarter. Silvant Capital Management LLC’s holdings in Cintas were worth $3,124,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted 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 in the last quarter. Creative Planning raised its stake 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 period. Western Financial Corp CA boosted its holdings in Cintas by 628.2% in the third 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 grew its stake in Cintas by 2,063.6% in the second 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 period. Finally, Searle & CO. increased its holdings in shares of Cintas by 300.0% during the third 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 in the last quarter. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Jefferies Financial Group cut their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Stifel Nicolaus lifted their price objective 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 upped their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Redburn Atlantic started coverage on Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price target for the company. Finally, The Goldman Sachs Group increased their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $205.62 on Friday. The company has a market capitalization of $82.93 billion, a P/E ratio of 51.92, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. The company’s 50-day moving average is $217.75 and its 200 day moving average is $191.67. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a fifty-two week low of $126.74 and a fifty-two week high of $215.37.

Cintas (NASDAQ:CTAS) last released its 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 earned $3.70 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. On average, equities research analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The company 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 $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio is currently 39.39%.

Cintas announced that its Board of Directors has initiated a share buyback plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is 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.