Caxton Associates LP Makes New $371,000 Investment in Cintas Co. (NASDAQ:CTAS)

Caxton Associates LP purchased a new stake in Cintas Co. (NASDAQ:CTAS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 530 shares of the business services provider’s stock, valued at approximately $371,000.

Other hedge funds also recently modified their holdings of the company. Vantage Financial Partners LLC acquired a new stake in shares of Cintas during the fourth quarter valued at about $1,029,000. Aveo Capital Partners LLC boosted its position in Cintas by 4.0% during the 4th quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock worth $689,000 after buying an additional 44 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Cintas by 8.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 6,301 shares of the business services provider’s stock worth $3,797,000 after acquiring an additional 502 shares during the last quarter. Advisory Services Network LLC increased its position in Cintas by 11.6% in the 4th quarter. Advisory Services Network LLC now owns 1,113 shares of the business services provider’s stock valued at $671,000 after acquiring an additional 116 shares during the period. Finally, Focus Financial Network Inc. ADV bought a new position in shares of Cintas during the fourth quarter valued at $1,471,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

Shares of CTAS opened at $202.35 on Friday. The business’s fifty day moving average is $208.63 and its 200 day moving average is $183.66. Cintas Co. has a 12-month low of $119.69 and a 12-month high of $211.57. 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 stock has a market cap of $20.53 billion, a P/E ratio of 13.97, a P/E/G ratio of 4.09 and a beta of 1.32.

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, beating analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.38% and a return on equity of 37.82%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $3.70 earnings per share. Sell-side analysts anticipate that Cintas Co. will post 4.16 earnings per share for the current fiscal year.

Cintas announced that its Board of Directors has approved a stock buyback plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in 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 usually an indication that the company’s board of directors believes its stock is undervalued.

Cintas Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Insider Activity

In related news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the completion of the sale, the director now directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 15.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CTAS shares. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Robert W. Baird raised their price objective on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday. Barclays upped their target price on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday. Truist Financial raised 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, Morgan Stanley upped their price objective on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Cintas 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.