Landscape Capital Management L.L.C. Increases Holdings in Cintas Co. (NASDAQ:CTAS)

Landscape Capital Management L.L.C. increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 367.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,253 shares of the business services provider’s stock after purchasing an additional 5,702 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Cintas were worth $1,493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atria Investments Inc lifted its stake in shares of Cintas by 291.7% in the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock valued at $4,595,000 after purchasing an additional 16,623 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Cintas by 343.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock worth $22,976,000 after purchasing an additional 86,460 shares during the last quarter. Creative Planning grew its holdings in shares of Cintas by 34.4% in the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after purchasing an additional 4,957 shares during the last quarter. Western Financial Corp CA increased its stake in Cintas by 628.2% in the 3rd quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock worth $2,429,000 after buying an additional 10,177 shares during the period. Finally, Portside Wealth Group LLC lifted its holdings in Cintas by 361.9% during the 3rd quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock valued at $287,000 after buying an additional 1,093 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on CTAS shares. Jefferies Financial Group cut their price target on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. 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 for the company. Morgan Stanley increased 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, September 26th. Truist Financial lifted their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, Robert W. Baird upped their target price on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Price Performance

CTAS opened at $221.63 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $210.36 and its 200 day moving average price is $196.74. Cintas Co. has a fifty-two week low of $136.87 and a fifty-two week high of $227.35. The firm has a market cap of $89.38 billion, a price-to-earnings ratio of 55.97, a price-to-earnings-growth ratio of 4.29 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the prior year, the business posted $3.70 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, sell-side analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

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

Cintas 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.