AMI Asset Management Corp Has $30.64 Million Holdings in Cintas Co. (NASDAQ:CTAS)

AMI Asset Management Corp increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 277.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 148,832 shares of the business services provider’s stock after buying an additional 109,427 shares during the quarter. AMI Asset Management Corp owned 0.15% of Cintas worth $30,642,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CTAS. Brookstone Capital Management acquired a new position in Cintas during the first quarter valued at approximately $233,000. Allspring Global Investments Holdings LLC increased its position in Cintas by 0.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 25,152 shares of the business services provider’s stock worth $17,280,000 after buying an additional 225 shares during the last quarter. Monument Capital Management acquired a new stake in shares of Cintas in the first quarter valued at approximately $223,000. Norden Group LLC lifted its holdings in Cintas by 3,915.0% during the 1st quarter. Norden Group LLC now owns 14,976 shares of the business services provider’s stock valued at $10,291,000 after purchasing an additional 14,603 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its position in shares of Cintas by 18.2% in the first quarter. First Trust Direct Indexing L.P. now owns 1,983 shares of the business services provider’s stock valued at $1,363,000 after purchasing an additional 305 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

CTAS stock opened at $209.14 on Wednesday. Cintas Co. has a 52-week low of $124.07 and a 52-week high of $215.37. 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 business has a 50-day simple moving average of $217.14 and a two-hundred day simple moving average of $191.17. The company has a market capitalization of $21.22 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the business posted $3.70 earnings per share. Research analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

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

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.75%. Cintas’s payout ratio is presently 10.77%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CTAS shares. Morgan Stanley lifted their price target on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Wells Fargo & Company lifted their price target on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. UBS Group lifted their price objective on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Stifel Nicolaus boosted their price target on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research note on Friday, July 19th. Finally, Truist Financial lifted 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Cintas has an average rating of “Hold” and a consensus 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.