S&CO Inc. Has $494,000 Holdings in Cintas Co. (NASDAQ:CTAS)

S&CO Inc. increased its stake in Cintas Co. (NASDAQ:CTAS) by 200.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,400 shares of the business services provider’s stock after purchasing an additional 1,600 shares during the period. S&CO Inc.’s holdings in Cintas were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Impax Asset Management Group plc boosted its stake in Cintas by 211.1% in the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after purchasing an additional 1,648,350 shares during the period. Alecta Tjanstepension Omsesidigt lifted its position in Cintas by 300.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after buying an additional 1,222,500 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Cintas by 211.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider’s stock worth $234,826,000 after buying an additional 774,551 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Cintas by 291.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 889,402 shares of the business services provider’s stock worth $183,110,000 after buying an additional 662,431 shares in the last quarter. Finally, Congress Asset Management Co. lifted its position in Cintas by 295.6% during the 3rd quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock worth $161,531,000 after buying an additional 586,271 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Barclays upped their target price on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Truist Financial upped their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Wells Fargo & Company upped their target price on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Finally, The Goldman Sachs Group upped their target price on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $215.20 on Friday. The company’s 50 day moving average price is $221.49 and its two-hundred day moving average price is $195.50. Cintas Co. has a 12-month low of $136.50 and a 12-month high of $227.35. The firm has a market cap of $86.79 billion, a PE ratio of 54.34, a PEG ratio of 4.24 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last announced 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. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the business posted $3.70 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. Equities research analysts predict that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s payout ratio is 39.39%.

Cintas declared that its board has initiated a stock buyback plan on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

About Cintas

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.