GoalVest Advisory LLC Raises Position in Cintas Co. (NASDAQ:CTAS)

GoalVest Advisory LLC boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 300.0% in the third quarter, HoldingsChannel reports. The firm owned 860 shares of the business services provider’s stock after purchasing an additional 645 shares during the period. GoalVest Advisory LLC’s holdings in Cintas were worth $177,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LGT Financial Advisors LLC boosted its holdings in Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. Atwood & Palmer Inc. bought a new position in Cintas during the 2nd quarter worth approximately $27,000. Pathway Financial Advisers LLC bought a new position in Cintas during the 1st quarter worth approximately $29,000. Meeder Asset Management Inc. lifted its holdings in Cintas by 226.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after buying an additional 34 shares during the last quarter. Finally, Crewe Advisors LLC lifted its holdings in Cintas by 133.3% during the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after buying an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 0.7 %

Shares of CTAS stock opened at $215.20 on Friday. The stock has a market cap of $86.79 billion, a PE ratio of 54.34, 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. The business’s fifty day moving average is $221.49 and its 200-day moving average is $195.50. Cintas Co. has a 1 year low of $136.50 and a 1 year high of $227.35.

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

Cintas announced that its Board of Directors has initiated a stock buyback program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a $0.39 dividend. 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 (DPR) is presently 39.39%.

Analysts Set New Price Targets

CTAS has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their target price on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Morgan Stanley increased their price target on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. UBS Group raised their target price on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Barclays raised their target price on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company raised their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.