Cintas Co. (NASDAQ:CTAS) Shares Bought by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 251.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,240 shares of the business services provider’s stock after acquiring an additional 1,603 shares during the period. Global X Japan Co. Ltd.’s holdings in Cintas were worth $461,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. lifted its stake in shares of Cintas by 12.6% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 520 shares of the business services provider’s stock worth $313,000 after buying an additional 58 shares during the period. RFG Advisory LLC acquired a new stake in Cintas during the 1st quarter worth about $228,000. Riverview Trust Co purchased a new stake in Cintas during the 1st quarter valued at about $57,000. Sunbelt Securities Inc. increased its holdings in shares of Cintas by 233.3% in the first quarter. Sunbelt Securities Inc. now owns 90 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 63 shares during the period. Finally, Brookstone Capital Management purchased a new position in shares of Cintas in the first quarter worth about $233,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Down 0.0 %

Shares of CTAS stock opened at $211.54 on Wednesday. The stock has a 50 day simple moving average of $215.48 and a 200-day simple moving average of $189.75. Cintas Co. has a 1-year low of $123.65 and a 1-year high of $215.37. The company has a market cap of $21.46 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 4.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $3.70 earnings per share. On average, equities research analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas declared that its board has authorized a stock repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding 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 typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of recent research reports. Truist Financial upped 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 dropped their price objective 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. Stifel Nicolaus increased their price objective on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Barclays boosted their target price on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, Morgan Stanley increased their price target on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $199.63.

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.