Cintas Co. (NASDAQ:CTAS) Shares Purchased by Horan Capital Advisors LLC.

Horan Capital Advisors LLC. increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,300 shares of the business services provider’s stock after purchasing an additional 1,725 shares during the quarter. Horan Capital Advisors LLC.’s holdings in Cintas were worth $474,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in shares of Cintas by 299.8% in the third quarter. PNC Financial Services Group Inc. now owns 1,286,525 shares of the business services provider’s stock worth $264,870,000 after buying an additional 964,698 shares in the last quarter. Parnassus Investments LLC raised its holdings in Cintas by 109.0% in the 3rd quarter. Parnassus Investments LLC now owns 64,207 shares of the business services provider’s stock valued at $13,219,000 after acquiring an additional 33,479 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Cintas in the 3rd quarter valued at about $53,739,000. Banque Cantonale Vaudoise lifted its stake in Cintas by 352.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 2,808 shares of the business services provider’s stock worth $578,000 after purchasing an additional 2,187 shares in the last quarter. Finally, SouthState Corp boosted its holdings in shares of Cintas by 81.0% during the 3rd quarter. SouthState Corp now owns 496 shares of the business services provider’s stock worth $102,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Truist Financial lifted their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Redburn Atlantic initiated coverage on shares of Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. Wells Fargo & Company raised their price objective 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. 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 report on Thursday, September 26th. Finally, UBS Group raised their price target on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Up 0.5 %

Cintas stock opened at $216.20 on Tuesday. The company has a market capitalization of $87.19 billion, a PE ratio of 54.60, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a fifty-two week low of $136.50 and a fifty-two week high of $227.35. The firm has a 50 day moving average price of $221.79 and a 200 day moving average price of $196.06.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data 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 return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the firm posted $3.70 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. Research analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas declared that its Board of Directors has authorized a share repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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 dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. Cintas’s dividend payout ratio is presently 39.39%.

About Cintas

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.