Oppenheimer & Co. Inc. Has $3.32 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Oppenheimer & Co. Inc. lifted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 242.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,137 shares of the business services provider’s stock after purchasing an additional 11,420 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cintas were worth $3,322,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Impax Asset Management Group plc grew its stake in Cintas by 211.1% during the third quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after buying an additional 1,648,350 shares in the last quarter. Alecta Tjanstepension Omsesidigt lifted its holdings in shares of Cintas by 300.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after acquiring an additional 1,222,500 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of Cintas by 211.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider’s stock worth $234,826,000 after acquiring an additional 774,551 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Cintas by 291.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 889,402 shares of the business services provider’s stock valued at $183,110,000 after acquiring an additional 662,431 shares during the last quarter. Finally, Congress Asset Management Co. raised its position in Cintas by 295.6% during the third quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock valued at $161,531,000 after purchasing an additional 586,271 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of CTAS stock opened at $215.20 on Friday. The stock has a market capitalization of $86.79 billion, a PE ratio of 54.34, a PEG ratio of 4.40 and a beta of 1.32. The business’s 50 day simple moving average is $221.09 and its 200 day simple moving average is $194.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. Cintas Co. has a one year low of $136.50 and a one year high of $227.35.

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

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

Cintas Dividend Announcement

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

Wall Street Analyst Weigh In

CTAS has been the topic of several recent analyst reports. Morgan Stanley lifted their price target on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Stifel Nicolaus boosted their target price on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. The Goldman Sachs Group increased their target price on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Barclays increased their price objective on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. 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. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and an average 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.