Alaska Permanent Fund Corp Acquires 54,903 Shares of Cintas Co. (NASDAQ:CTAS)

Alaska Permanent Fund Corp grew its holdings in Cintas Co. (NASDAQ:CTAS) by 300.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,204 shares of the business services provider’s stock after purchasing an additional 54,903 shares during the period. Alaska Permanent Fund Corp owned approximately 0.07% of Cintas worth $15,071,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. grew its stake in Cintas by 12.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 520 shares of the business services provider’s stock valued at $313,000 after acquiring an additional 58 shares in the last quarter. RFG Advisory LLC purchased a new position in Cintas during the first quarter valued at approximately $228,000. Sunbelt Securities Inc. grew its stake in Cintas by 233.3% during the first quarter. Sunbelt Securities Inc. now owns 90 shares of the business services provider’s stock valued at $62,000 after acquiring an additional 63 shares in the last quarter. Brookstone Capital Management purchased a new position in Cintas during the first quarter valued at approximately $233,000. Finally, GoalVest Advisory LLC grew its stake in Cintas by 74.2% during the first quarter. GoalVest Advisory LLC now owns 270 shares of the business services provider’s stock valued at $185,000 after acquiring an additional 115 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CTAS. Jefferies Financial Group reduced their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Stifel Nicolaus boosted their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. UBS Group increased their price target on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Truist Financial increased their price target on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, Redburn Atlantic started coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Price Performance

CTAS stock opened at $209.28 on Thursday. 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 52 week low of $123.65 and a 52 week high of $215.37. The firm’s fifty day moving average is $215.86 and its 200 day moving average is $189.89. The firm has a market cap of $21.23 billion, a P/E ratio of 14.48, a P/E/G ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion during 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 firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.70 EPS. Research analysts predict that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its Board of Directors has authorized a stock buyback plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.