AlphaCentric Advisors LLC Has $208,000 Stake in Cintas Co. (NASDAQ:CTAS)

AlphaCentric Advisors LLC lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 273.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,012 shares of the business services provider’s stock after buying 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 have also recently bought and sold shares of the company. Norden Group LLC lifted its stake in Cintas by 120.9% in the first quarter. Norden Group LLC now owns 824 shares of the business services provider’s stock valued at $566,000 after buying an additional 451 shares in the last quarter. TFB Advisors LLC lifted its stake in Cintas by 31.9% in the first quarter. TFB Advisors LLC now owns 504 shares of the business services provider’s stock valued at $334,000 after buying an additional 122 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in Cintas by 9.9% in the first quarter. Richardson Financial Services Inc. now owns 1,890 shares of the business services provider’s stock valued at $1,298,000 after buying an additional 170 shares in the last quarter. Team Hewins LLC bought a new position in Cintas in the first quarter valued at approximately $205,000. Finally, Financial Council LLC bought a new position in Cintas in the first quarter valued at approximately $225,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Barclays boosted their price objective 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. Robert W. Baird upped their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Stifel Nicolaus upped their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Royal Bank of Canada upped their price target 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. Finally, Truist Financial upped their price target 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. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Trading Up 0.9 %

CTAS stock opened at $207.56 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The company’s 50-day simple moving average is $217.93 and its 200 day simple moving average is $192.31. Cintas Co. has a 52 week low of $128.92 and a 52 week high of $215.37. The company has a market capitalization 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 posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping 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 business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the prior year, the business posted $3.70 earnings per share. Cintas’s revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current 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 $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

Cintas declared that its board has approved a share repurchase 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 reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are 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.