Entropy Technologies LP Makes New $856,000 Investment in Cintas Co. (NASDAQ:CTAS)

Entropy Technologies LP bought a new position in shares of Cintas Co. (NASDAQ:CTAS) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 4,160 shares of the business services provider’s stock, valued at approximately $856,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Apollon Wealth Management LLC grew its stake in Cintas by 280.6% in the 3rd quarter. Apollon Wealth Management LLC now owns 34,545 shares of the business services provider’s stock valued at $7,112,000 after purchasing an additional 25,469 shares during the period. Nations Financial Group Inc. IA ADV raised its position in Cintas by 299.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 24,652 shares of the business services provider’s stock worth $5,075,000 after acquiring an additional 18,488 shares during the period. Versor Investments LP purchased a new position in Cintas in the third quarter valued at about $213,000. Venturi Wealth Management LLC grew its position in shares of Cintas by 346.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 11,047 shares of the business services provider’s stock valued at $2,274,000 after acquiring an additional 8,575 shares during the period. Finally, Addison Advisors LLC increased its stake in shares of Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CTAS. Royal Bank of Canada upped their price target on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Morgan Stanley raised their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Jefferies Financial Group lowered their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Robert W. Baird raised their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, Truist Financial increased their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Cintas currently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Price Performance

Shares of Cintas stock opened at $223.62 on Thursday. The stock has a market capitalization of $90.19 billion, a price-to-earnings ratio of 56.47, a price-to-earnings-growth ratio of 4.43 and a beta of 1.32. The company has a fifty day moving average of $220.30 and a 200-day moving average of $194.58. Cintas Co. has a 52-week low of $135.07 and a 52-week high of $227.35. 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 (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the firm earned $3.70 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

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

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.