Cintas Co. (NASDAQ:CTAS) Shares Bought by Chesapeake Wealth Management

Chesapeake Wealth Management boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 288.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,940 shares of the business services provider’s stock after buying an additional 1,440 shares during the quarter. Chesapeake Wealth Management’s holdings in Cintas were worth $399,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CTAS. Impax Asset Management Group plc increased its position 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 valued at $499,236,000 after buying an additional 1,648,350 shares in the last quarter. Alecta Tjanstepension Omsesidigt increased its holdings in shares of Cintas by 300.0% in the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after purchasing an additional 1,222,500 shares during the period. Swiss National Bank increased its holdings in shares of Cintas by 301.0% in the third quarter. Swiss National Bank now owns 1,084,400 shares of the business services provider’s stock valued at $223,256,000 after purchasing an additional 814,000 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of Cintas by 211.6% in the third quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider’s stock worth $234,826,000 after purchasing an additional 774,551 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Cintas by 291.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 889,402 shares of the business services provider’s stock worth $183,110,000 after purchasing an additional 662,431 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Performance

NASDAQ CTAS opened at $216.20 on Tuesday. The stock’s fifty day moving average is $221.79 and its two-hundred day moving average is $196.06. The firm has a market capitalization of $87.19 billion, a P/E ratio of 54.60, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32. 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 fifty-two week low of $136.50 and a fifty-two week high of $227.35.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data 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. 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 analyst estimates of $2.49 billion. During the same quarter in the previous year, the company posted $3.70 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, research analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its board has approved a share buyback plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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 $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.72%. Cintas’s dividend payout ratio is currently 39.39%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CTAS shares. UBS Group raised their price objective on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company raised their price objective on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. The Goldman Sachs Group lifted their price target on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Jefferies Financial Group reduced their price target on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Finally, Morgan Stanley raised their price objective on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Two research 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. Based on data from MarketBeat, Cintas currently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas 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.