Chapman Investment Management LLC Has $5.09 Million Stake in Cintas Co. (NASDAQ:CTAS)

Chapman Investment Management LLC raised its position in shares of Cintas Co. (NASDAQ:CTAS) by 298.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,743 shares of the business services provider’s stock after acquiring an additional 18,531 shares during the quarter. Cintas comprises 3.7% of Chapman Investment Management LLC’s investment portfolio, making the stock its 11th biggest holding. Chapman Investment Management LLC’s holdings in Cintas were worth $5,094,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Alecta Tjanstepension Omsesidigt increased its position in Cintas by 300.0% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after buying an additional 1,222,500 shares in the last quarter. Congress Asset Management Co. increased its holdings in shares of Cintas by 295.6% during the third quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock valued at $161,531,000 after acquiring an additional 586,271 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Cintas by 3,302.1% during the third quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock valued at $103,194,000 after acquiring an additional 486,500 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Cintas by 300.0% during the third quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock worth $105,170,000 after purchasing an additional 383,124 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in shares of Cintas by 268.2% in the 3rd quarter. New York State Common Retirement Fund now owns 506,088 shares of the business services provider’s stock worth $104,193,000 after purchasing an additional 368,645 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Down 0.1 %

Cintas stock opened at $205.62 on Friday. The firm has a 50 day moving average price of $217.75 and a 200-day moving average price of $191.67. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a twelve month low of $126.74 and a twelve month high of $215.37. The company has a market capitalization of $82.93 billion, a P/E ratio of 51.92, a P/E/G ratio of 4.09 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data 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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the company earned $3.70 earnings per share. Cintas’s revenue was up 6.8% compared to the same quarter last year. As a group, equities analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its board has authorized a share repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Wall Street Analyst Weigh In

CTAS has been the topic of several research reports. Barclays upped their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. The Goldman Sachs Group raised 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. Royal Bank of Canada boosted their price objective on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Wells Fargo & Company raised their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Finally, UBS Group increased their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Two equities research 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.