Patron Partners LLC Has $626,000 Stock Holdings in Cintas Co. (NASDAQ:CTAS)

by · The Cerbat Gem

Patron Partners LLC boosted its position in shares of Cintas Co. (NASDAQ:CTAS – Free Report) by 302.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,039 shares of the business services provider’s stock after purchasing an additional 2,284 shares during the quarter. Patron Partners LLC’s holdings in Cintas were worth $626,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC bought a new position in shares of Cintas during the 1st quarter valued at about $756,000. QRG Capital Management Inc. lifted its stake in Cintas by 59.3% in the first quarter. QRG Capital Management Inc. now owns 3,477 shares of the business services provider’s stock valued at $2,389,000 after buying an additional 1,295 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Cintas by 42.9% in the first quarter. Russell Investments Group Ltd. now owns 61,299 shares of the business services provider’s stock valued at $42,081,000 after buying an additional 18,413 shares during the period. Avantax Advisory Services Inc. raised its holdings in shares of Cintas by 17.0% during the first quarter. Avantax Advisory Services Inc. now owns 2,173 shares of the business services provider’s stock worth $1,493,000 after acquiring an additional 316 shares during the period. Finally, Bleakley Financial Group LLC raised its holdings in shares of Cintas by 2.2% during the first quarter. Bleakley Financial Group LLC now owns 3,294 shares of the business services provider’s stock worth $2,263,000 after acquiring an additional 70 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays increased their target price on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Truist Financial lifted their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. UBS Group lifted their price objective on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Robert W. Baird increased their target price on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, Redburn Atlantic initiated coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $199.63.

Get Our Latest Research Report on CTAS

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $224.11 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 company has a market capitalization of $90.38 billion, a P/E ratio of 56.59, a P/E/G ratio of 4.45 and a beta of 1.32. Cintas Co. has a 12 month low of $132.65 and a 12 month high of $227.35. The stock has a 50 day moving average of $219.35 and a 200-day moving average of $193.77.

Cintas (NASDAQ:CTAS – Get Free Report) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.70 earnings per share. As a group, equities research analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.70%. Cintas’s dividend payout ratio is currently 39.39%.

Cintas declared that its board has approved a stock repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

About Cintas

(Free Report)

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.

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