West Family Investments Inc. Increases Stock Position in Cintas Co. (NASDAQ:CTAS)

West Family Investments Inc. increased its holdings in Cintas Co. (NASDAQ:CTAS) by 305.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,272 shares of the business services provider’s stock after acquiring an additional 958 shares during the quarter. West Family Investments Inc.’s holdings in Cintas were worth $262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CTAS. LGT Financial Advisors LLC increased its holdings in shares of 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 period. Financial Management Professionals Inc. increased its stake in Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 99 shares during the period. Hollencrest Capital Management lifted its stake in shares of Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares during the period. Atwood & Palmer Inc. purchased a new stake in shares of Cintas in the second quarter valued at about $27,000. Finally, Addison Advisors LLC increased its stake in shares of Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after acquiring an additional 114 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

NASDAQ CTAS opened at $217.97 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a fifty-two week low of $136.50 and a fifty-two week high of $227.35. The business has a fifty day moving average of $222.07 and a 200-day moving average of $196.41. The stock has a market cap of $87.91 billion, a price-to-earnings ratio of 55.04, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32.

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

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

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Friday, November 15th. Cintas’s payout ratio is 39.39%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CTAS. Morgan Stanley raised their price objective on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. UBS Group upped their price objective on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Jefferies Financial Group reduced their target price on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Wells Fargo & Company upped their price target on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. Finally, Barclays boosted their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $199.63.

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.