Cintas Co. (NASDAQ:CTAS) Shares Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd boosted its position in Cintas Co. (NASDAQ:CTAS) by 208.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,148 shares of the business services provider’s stock after acquiring an additional 7,534 shares during the quarter. Vinva Investment Management Ltd’s holdings in Cintas were worth $2,256,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC lifted its stake in shares of Cintas by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after purchasing an additional 14 shares in the last quarter. Axxcess Wealth Management LLC lifted its stake in shares of Cintas by 0.5% during the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after purchasing an additional 14 shares in the last quarter. Field & Main Bank lifted its stake in shares of Cintas by 25.0% during the second quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after purchasing an additional 15 shares in the last quarter. Drive Wealth Management LLC lifted its stake in shares of Cintas by 3.7% during the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after purchasing an additional 16 shares in the last quarter. Finally, TIAA Trust National Association lifted its stake in shares of Cintas by 1.2% during the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after purchasing an additional 16 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CTAS. Truist Financial boosted their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. The Goldman Sachs Group boosted 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. Robert W. Baird lifted their target price on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Jefferies Financial Group dropped their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Finally, Redburn Atlantic assumed coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Two equities 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 has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Down 1.1 %

Shares of Cintas stock opened at $224.05 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The firm has a market cap of $90.36 billion, a P/E ratio of 56.58, a P/E/G ratio of 4.41 and a beta of 1.32. Cintas Co. has a fifty-two week low of $136.87 and a fifty-two week high of $228.12. The business has a 50-day moving average price of $212.33 and a 200 day moving average price of $198.50.

Cintas (NASDAQ:CTAS) last announced 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. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.70 earnings per share. On average, sell-side analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

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.