AustralianSuper Pty Ltd Boosts Holdings in Cintas Co. (NASDAQ:CTAS)

AustralianSuper Pty Ltd lifted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 276.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,864 shares of the business services provider’s stock after acquiring an additional 38,812 shares during the period. AustralianSuper Pty Ltd owned 0.05% of Cintas worth $10,884,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Alecta Tjanstepension Omsesidigt raised its stake in Cintas by 300.0% during the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after purchasing an additional 1,222,500 shares during the period. Congress Asset Management Co. increased its position in shares of Cintas by 295.6% in the third quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock worth $161,531,000 after acquiring an additional 586,271 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Cintas by 3,302.1% during the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock valued at $103,194,000 after acquiring an additional 486,500 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in Cintas by 300.0% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock worth $105,170,000 after purchasing an additional 383,124 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Cintas by 305.4% in the third quarter. Raymond James & Associates now owns 484,068 shares of the business services provider’s stock valued at $99,660,000 after buying an additional 364,659 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTAS has been the topic of several analyst reports. Redburn Atlantic began coverage on shares of Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. Jefferies Financial Group dropped their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Morgan Stanley upped their price target on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. UBS Group upped their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada lifted their price target on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Performance

CTAS stock traded down $1.78 on Thursday, reaching $206.07. The company’s stock had a trading volume of 161,495 shares, compared to its average volume of 1,451,392. Cintas Co. has a 52 week low of $125.62 and a 52 week high of $215.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The company has a market capitalization of $20.91 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The firm has a fifty day moving average of $217.38 and a two-hundred day moving average of $191.29.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping 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 company 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. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, analysts predict that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio is currently 10.77%.

Cintas announced that its Board of Directors has approved a stock buyback program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are 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.