3,000 Shares in Cintas Co. (NASDAQ:CTAS) Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC acquired a new position in shares of Cintas Co. (NASDAQ:CTAS) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,000 shares of the business services provider’s stock, valued at approximately $618,000.

Other large investors have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC increased its holdings in shares of Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after acquiring an additional 28 shares during the period. Financial Management Professionals Inc. grew its position in Cintas by 341.4% in 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. Hollencrest Capital Management increased its stake in shares of Cintas by 433.3% in the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 104 shares during the period. Atwood & Palmer Inc. bought a new stake in shares of Cintas during the second quarter valued at approximately $27,000. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Cintas during the first quarter worth approximately $29,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $223.62 on Thursday. The company’s fifty day moving average is $220.30 and its two-hundred day moving average is $194.58. The company has a market cap of $90.19 billion, a P/E ratio of 56.47, a price-to-earnings-growth ratio of 4.43 and a beta of 1.32. Cintas Co. has a 12-month low of $135.07 and a 12-month high of $227.35. 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 (NASDAQ:CTAS) last posted 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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the firm earned $3.70 earnings per share. Cintas’s quarterly revenue was up 6.8% on a year-over-year basis. Equities analysts expect 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 authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.70%. Cintas’s dividend payout ratio is presently 39.39%.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several analyst reports. Truist Financial raised their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Jefferies Financial Group cut their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. The Goldman Sachs Group increased their target price 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. Morgan Stanley boosted their price target on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Finally, Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Two 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $199.63.

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.