Cintas Corporation (CTAS) Rose 26% on Exceeded Expectations

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was -14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like Cintas Corporation (NASDAQ:CTAS) in its Q4 2023 investor letter. Headquartered in Cincinnati, Ohio, Cintas Corporation (NASDAQ:CTAS) provides corporate identity uniforms and related business services. On March 28, 2024, Cintas Corporation (NASDAQ:CTAS) stock closed at $687.03 per share. One-month return of Cintas Corporation (NASDAQ:CTAS) was 9.29%, and its shares gained 46.91% of their value over the last 52 weeks. Cintas Corporation (NASDAQ:CTAS) has a market capitalization of $69.695 billion.

TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding Cintas Corporation (NASDAQ:CTAS) in its fourth quarter 2023 investor letter:

“In the Industrials sector we gravitate toward business service companies, those focused on automation & efficiency improvements, and essential infrastructure services. Cintas Corporation (NASDAQ:CTAS) supplies identity uniforms and facilities services. The company’s shares climbed 26% after exceeding expectations. This included beats to revenues and earnings estimates, as well as an increase in forward guidance.”

A corporate office with staff members wearing company branded uniforms.

Cintas Corporation (NASDAQ:CTAS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Cintas Corporation (NASDAQ:CTAS) was held by 40 hedge fund portfolios, compared to 36 in the previous quarter, according to our database.

We discussed Cintas Corporation (NASDAQ:CTAS) in another article and shared ClearBridge Aggressive Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.