Cintas Co. (NASDAQ:CTAS) Position Increased by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. increased its stake in Cintas Co. (NASDAQ:CTAS) by 243.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,828 shares of the business services provider’s stock after acquiring an additional 3,421 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Cintas were worth $994,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. LGT Financial Advisors LLC increased its stake in Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares in the last quarter. Financial Management Professionals Inc. increased its position in shares of Cintas by 341.4% in the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 99 shares in the last quarter. Hollencrest Capital Management raised its holdings in shares of Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 104 shares during the period. Atwood & Palmer Inc. purchased a new stake in shares of Cintas in the 2nd quarter valued at approximately $27,000. Finally, Addison Advisors LLC boosted its stake in Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CTAS. Redburn Atlantic started coverage on Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price for the company. UBS Group upped their target price on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada increased their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Jefferies Financial Group dropped their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Finally, Robert W. Baird raised their price objective on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $199.63.

Cintas Trading Down 0.9 %

Shares of NASDAQ CTAS opened at $215.20 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average of $221.49 and a two-hundred day moving average of $195.70. Cintas Co. has a 1-year low of $136.50 and a 1-year high of $227.35. The company has a market cap of $86.79 billion, a PE ratio of 54.34, a P/E/G ratio of 4.24 and a beta of 1.32.

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 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 company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the business posted $3.70 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities analysts expect that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued 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 yield of 0.72%. Cintas’s dividend payout ratio is presently 39.39%.

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

Cintas 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.