Townsquare Capital LLC Grows Stock Position in Cintas Co. (NASDAQ:CTAS)

Townsquare Capital LLC lifted its stake in Cintas Co. (NASDAQ:CTAS) by 269.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,431 shares of the business services provider’s stock after purchasing an additional 19,997 shares during the period. Townsquare Capital LLC’s holdings in Cintas were worth $5,647,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTAS. FMR LLC lifted its holdings in Cintas by 297.3% during the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after buying an additional 6,571,128 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in Cintas by 211.1% during 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 buying an additional 1,648,350 shares during the last quarter. King Luther Capital Management Corp lifted its holdings in Cintas by 293.2% during the 3rd quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock worth $392,056,000 after buying an additional 1,419,975 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Cintas by 258.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,894,922 shares of the business services provider’s stock worth $390,127,000 after buying an additional 1,365,825 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt lifted its holdings 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 during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Performance

NASDAQ CTAS opened at $224.05 on Friday. 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 business’s 50 day moving average is $212.33 and its two-hundred day moving average is $198.50. Cintas Co. has a 12-month low of $136.87 and a 12-month high of $228.12. The stock has a market capitalization of $90.36 billion, a price-to-earnings ratio of 56.58, a PEG ratio of 4.41 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 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 for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the firm posted $3.70 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. Research analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

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

Wall Street Analysts Forecast Growth

CTAS has been the subject of a number of recent analyst reports. Jefferies Financial Group decreased their price target on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Truist Financial lifted their target price on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Redburn Atlantic started coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Robert W. Baird lifted their target price on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, UBS Group lifted their target price on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two investment 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 data from MarketBeat, Cintas presently has an average rating of “Hold” and an average target price of $199.63.

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.