Cintas Co. (NASDAQ:CTAS) Shares Bought by Glenmede Trust Co. NA

Glenmede Trust Co. NA lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 295.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 34,351 shares of the business services provider’s stock after buying an additional 25,675 shares during the period. Glenmede Trust Co. NA’s holdings in Cintas were worth $7,072,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CTAS. Freedom Investment Management Inc. boosted its position in shares of Cintas by 281.4% in the third quarter. Freedom Investment Management Inc. now owns 5,508 shares of the business services provider’s stock worth $1,134,000 after acquiring an additional 4,064 shares during the last quarter. Cynosure Group LLC raised its stake in Cintas by 255.5% during the third quarter. Cynosure Group LLC now owns 1,902 shares of the business services provider’s stock worth $392,000 after purchasing an additional 1,367 shares during the period. Townsquare Capital LLC boosted its holdings in shares of Cintas by 269.0% in the 3rd quarter. Townsquare Capital LLC now owns 27,431 shares of the business services provider’s stock valued at $5,647,000 after purchasing an additional 19,997 shares during the last quarter. Baldwin Investment Management LLC grew its stake in shares of Cintas by 300.0% during the 3rd quarter. Baldwin Investment Management LLC now owns 4,000 shares of the business services provider’s stock valued at $824,000 after buying an additional 3,000 shares during the period. Finally, Thematics Asset Management increased its holdings in shares of Cintas by 184.2% during the 3rd quarter. Thematics Asset Management now owns 81,000 shares of the business services provider’s stock worth $16,676,000 after buying an additional 52,500 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of CTAS opened at $225.79 on Friday. Cintas Co. has a 52-week low of $136.87 and a 52-week high of $228.12. 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 firm has a market cap of $91.06 billion, a price-to-earnings ratio of 57.02, a PEG ratio of 4.41 and a beta of 1.32. The business’s 50 day moving average is $212.76 and its two-hundred day moving average is $198.87.

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

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. Cintas’s payout ratio is currently 39.39%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CTAS shares. Barclays lifted their target price on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Truist Financial boosted their target price on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Wells Fargo & Company increased their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. The Goldman Sachs Group boosted their price objective on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada increased their price objective on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.