5 Stocks to Buy According to Peter Simmie’s Bristol Gate Capital Partners

3. Cintas Corporation (NASDAQ:CTAS)

Bristol Gate Capital Partners’ Stake Value: $93,506,000
Percentage of Bristol Gate Capital Partners’ 13F Portfolio: 5.28%
Number of Hedge Fund Holders: 32

Cintas Corporation (NASDAQ:CTAS) primarily serves clients in the United States, Canada, and Latin America with corporate identity uniforms and related business services. Since Cintas Corporation (NASDAQ:CTAS) went public in 1983, it has paid a dividend yearly. Cintas Corporation (NASDAQ:CTAS) announced a quarterly dividend of $1.15 per share on July 26. This is a 21.1% increase over the $0.95 dividend paid before. This was the company’s 39th consecutive annual dividend increase.

On August 17, Baird analyst Andrew Wittmann reaffirmed an ‘Outperform’ rating on Cintas Corporation (NASDAQ:CTAS) and increased his price objective from $440 to $475. Overall, 32 hedge funds monitored by Insider Monkey were bullish on Cintas Corporation (NASDAQ:CTAS) in the second quarter. The stakes of these funds are valued at $1.14 billion.

Bristol Gate Capital began building its stake in Cintas Corporation (NASDAQ:CTAS) in the second quarter of 2016. In the second quarter of 2022, it held 250,329 shares of Cintas Corporation (NASDAQ:CTAS). These were worth $93.51 million and accounted for 5.28% of its portfolio. Cintas Corporation (NASDAQ:CTAS) is the third-largest holding of Bristol Gate Capital Partners.

Here is what Cooper Investors, an investment management firm, has to say about Cintas Corporation (NASDAQ:CTAS) in its Q1 2022 investor letter:

“During the quarter the Fund established a position in Cintas Corporation, a market leader in uniform rental services across North America (Mcap $44bn). This service provides workwear for large corporate and government clients, for example managing supply and laundry of uniforms for the nationwide employee base of customers such as Home Depot…. (Click to read the full text).”