Tributary Capital Management LLC Has $699,000 Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Tributary Capital Management LLC grew its holdings in Cintas Co. (NASDAQ:CTAS) by 223.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,395 shares of the business services provider’s stock after acquiring an additional 2,345 shares during the period. Tributary Capital Management LLC’s holdings in Cintas were worth $699,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CTAS. LGT Financial Advisors LLC lifted its holdings in Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the last quarter. Financial Management Professionals Inc. lifted its holdings in Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in Cintas during the 2nd quarter worth approximately $27,000. Pathway Financial Advisers LLC acquired a new stake in Cintas during the 1st quarter worth approximately $29,000. Finally, Grove Bank & Trust lifted its holdings in Cintas by 1,340.0% during the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after purchasing an additional 134 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of Cintas stock opened at $207.41 on Monday. Cintas Co. has a one year low of $123.65 and a one year high of $215.37. The firm has a market capitalization of $21.04 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 4.12 and a beta of 1.32. The business has a 50-day simple moving average of $216.53 and a 200 day simple moving average of $190.59. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last issued 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 analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.70 EPS. On average, research analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

CTAS has been the subject of several research reports. Redburn Atlantic initiated coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target for the company. Truist Financial raised their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Morgan Stanley raised their price objective on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Barclays raised their price objective on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Finally, The Goldman Sachs Group boosted their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently 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.