S.A. Mason LLC Buys 1,236 Shares of Cintas Co. (NASDAQ:CTAS)

S.A. Mason LLC raised its stake in Cintas Co. (NASDAQ:CTAS) by 300.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,648 shares of the business services provider’s stock after acquiring an additional 1,236 shares during the period. S.A. Mason LLC’s holdings in Cintas were worth $339,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CTAS. Brookstone Capital Management bought a new stake in Cintas during the first quarter worth approximately $233,000. Allspring Global Investments Holdings LLC raised its holdings in Cintas by 0.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,152 shares of the business services provider’s stock valued at $17,280,000 after buying an additional 225 shares during the period. First Trust Direct Indexing L.P. lifted its position in 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 worth $1,363,000 after buying an additional 305 shares during the last quarter. ZRC Wealth Management LLC purchased a new position in Cintas during the first quarter worth $45,000. Finally, Van ECK Associates Corp increased its position in Cintas by 6.9% during the first quarter. Van ECK Associates Corp now owns 16,431 shares of the business services provider’s stock valued at $11,289,000 after acquiring an additional 1,067 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of CTAS opened at $207.85 on Thursday. The stock has a market capitalization of $21.09 billion, a P/E ratio of 14.35, a P/E/G ratio of 4.12 and a beta of 1.32. The company’s fifty day moving average is $217.38 and its two-hundred day moving average is $191.29. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a 1 year low of $125.62 and a 1 year high of $215.37.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion for 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 business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.70 EPS. On average, sell-side analysts predict that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its board has approved a share repurchase program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is 10.77%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CTAS. Stifel Nicolaus raised their price target on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Robert W. Baird boosted their target price on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Redburn Atlantic began 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. Wells Fargo & Company boosted their price objective 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. Finally, Truist Financial upped their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note 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’s stock. According to data from MarketBeat.com, Cintas has an average rating of “Hold” and a consensus price target of $199.63.

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.