Hexagon Capital Partners LLC Raises Holdings in Cintas Co. (NASDAQ:CTAS)

Hexagon Capital Partners LLC lifted its holdings in Cintas Co. (NASDAQ:CTAS) by 272.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 589 shares of the business services provider’s stock after purchasing an additional 431 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Cintas were worth $121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. LGT Financial Advisors LLC raised its position in Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after buying an additional 28 shares during the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Cintas in the second quarter worth approximately $27,000. Pathway Financial Advisers LLC purchased a new position in shares of Cintas during the first quarter valued at approximately $29,000. Rise Advisors LLC bought a new position in Cintas during the first quarter valued at approximately $30,000. Finally, Meeder Asset Management Inc. lifted its position in Cintas by 226.7% during the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 34 shares during the period. 63.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of Cintas stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the sale, the director now directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 15.10% of the company’s stock.

Cintas Price Performance

NASDAQ:CTAS opened at $206.13 on Friday. The stock has a market cap of $20.91 billion, a PE ratio of 14.24, a P/E/G ratio of 4.09 and a beta of 1.32. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The business’s 50-day simple moving average is $211.32 and its two-hundred day simple moving average is $186.85. Cintas Co. has a 52 week low of $123.65 and a 52 week high of $211.57.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results 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. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the firm earned $3.70 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. As a group, analysts forecast that Cintas Co. will post 4.16 EPS for the current fiscal year.

Cintas declared that its board has approved 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Cintas Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s payout ratio is currently 10.77%.

Wall Street Analysts Forecast Growth

CTAS has been the subject of a number of research reports. Truist Financial boosted their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Wells Fargo & Company raised their target price on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. The Goldman Sachs Group upped their price target on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley increased their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Finally, StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus 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.