AlphaCentric Advisors LLC Acquires 741 Shares of Cintas Co. (NASDAQ:CTAS)

AlphaCentric Advisors LLC raised its position in shares of Cintas Co. (NASDAQ:CTAS) by 273.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,012 shares of the business services provider’s stock after purchasing an additional 741 shares during the quarter. AlphaCentric Advisors LLC’s holdings in Cintas were worth $208,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gulf International Bank UK Ltd increased its position in Cintas by 282.0% during the 3rd quarter. Gulf International Bank UK Ltd now owns 28,896 shares of the business services provider’s stock valued at $5,949,000 after purchasing an additional 21,331 shares during the period. FSM Wealth Advisors LLC acquired a new stake in Cintas during the 3rd quarter valued at approximately $235,000. Catalyst Capital Advisors LLC increased its position in Cintas by 221.6% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 312 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 215 shares during the period. Impax Asset Management Group plc grew its position in shares of Cintas by 211.1% during the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after buying an additional 1,648,350 shares during the period. Finally, Red Cedar Investment Management LLC grew its position in shares of Cintas by 300.0% during the 3rd quarter. Red Cedar Investment Management LLC now owns 9,124 shares of the business services provider’s stock worth $1,878,000 after buying an additional 6,843 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Redburn Atlantic assumed coverage on shares of Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective for the company. Royal Bank of Canada raised their price objective on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Jefferies Financial Group reduced their price objective 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. Truist Financial raised their price objective on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, UBS Group lifted their price target on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $207.56 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock’s fifty day simple moving average is $217.93 and its two-hundred day simple moving average is $192.31. Cintas Co. has a 1-year low of $128.92 and a 1-year high of $215.37. The stock has a market cap of $83.71 billion, a PE ratio of 52.41, a price-to-earnings-growth ratio of 4.05 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data 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 return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the business earned $3.70 EPS. The business’s revenue was up 6.8% on a year-over-year basis. As a group, analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s payout ratio is 39.39%.

Cintas announced that its board has approved a share buyback program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.