Metis Global Partners LLC Has $3 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Metis Global Partners LLC boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 315.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 14,577 shares of the business services provider’s stock after acquiring an additional 11,065 shares during the quarter. Metis Global Partners LLC’s holdings in Cintas were worth $3,001,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

Several analysts recently weighed in on CTAS shares. Wells Fargo & Company lifted their price target on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Royal Bank of Canada boosted their target price on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Truist Financial upped their price target on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Barclays lifted their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Finally, Jefferies Financial Group decreased their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $199.63.

Cintas Trading Down 2.9 %

Shares of CTAS opened at $217.05 on Friday. Cintas Co. has a 52-week low of $136.50 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. The business’s fifty day moving average is $220.75 and its 200-day moving average is $194.79. The firm has a market cap of $87.54 billion, a price-to-earnings ratio of 54.81, a PEG ratio of 4.43 and a beta of 1.32.

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

Cintas Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.72%. Cintas’s dividend payout ratio is presently 39.39%.

Cintas announced that its Board of Directors has authorized a stock repurchase program on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Cintas Company 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.