BayBridge Capital Group LLC Acquires 446 Shares of Cintas Co. (NASDAQ:CTAS)

BayBridge Capital Group LLC increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 25.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,192 shares of the business services provider’s stock after buying an additional 446 shares during the period. BayBridge Capital Group LLC’s holdings in Cintas were worth $451,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Alecta Tjanstepension Omsesidigt lifted its stake in shares of Cintas by 300.0% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after purchasing an additional 1,222,500 shares during the period. Legal & General Group Plc lifted its stake in Cintas by 0.4% in the second quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock valued at $546,388,000 after buying an additional 3,471 shares during the period. Nordea Investment Management AB boosted its holdings in Cintas by 6.3% during the first quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock worth $438,402,000 after buying an additional 37,727 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of Cintas by 300.0% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock worth $105,170,000 after buying an additional 383,124 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Cintas by 3,302.1% in the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock valued at $103,194,000 after acquiring an additional 486,500 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $207.41 on Friday. The business has a 50-day moving average of $216.20 and a 200-day moving average of $190.02. Cintas Co. has a fifty-two week low of $123.65 and a fifty-two week high of $215.37. The stock has a market capitalization of $21.04 billion, a price-to-earnings ratio of 14.32, 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 results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The firm had revenue of $2.50 billion during 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 business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.70 earnings per share. As a group, sell-side analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas announced that its board has approved 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 stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on CTAS shares. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Truist Financial upped their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Barclays lifted their target price on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Royal Bank of Canada increased their price target on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Finally, UBS Group lifted their price objective on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $199.63.

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.