Cintas Co. (NASDAQ:CTAS) Shares Bought by Cynosure Group LLC

Cynosure Group LLC raised its position in Cintas Co. (NASDAQ:CTAS) by 255.5% during the third quarter, HoldingsChannel reports. The firm owned 1,902 shares of the business services provider’s stock after buying an additional 1,367 shares during the quarter. Cynosure Group LLC’s holdings in Cintas were worth $392,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CTAS. Atria Investments Inc raised its stake in Cintas by 291.7% in the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock valued at $4,595,000 after buying an additional 16,623 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Cintas by 343.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock valued at $22,976,000 after acquiring an additional 86,460 shares during the last quarter. Creative Planning raised its position in shares of Cintas by 34.4% during the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after acquiring an additional 4,957 shares in the last quarter. Western Financial Corp CA lifted its stake in Cintas by 628.2% during the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock worth $2,429,000 after purchasing an additional 10,177 shares during the last quarter. Finally, Portside Wealth Group LLC boosted its holdings in Cintas by 361.9% in the third quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock valued at $287,000 after purchasing an additional 1,093 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CTAS. Morgan Stanley boosted their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Redburn Atlantic initiated coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Robert W. Baird boosted 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. Jefferies Financial Group lowered their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Finally, Royal Bank of Canada increased their price target on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. Two 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 stock. According to MarketBeat, Cintas currently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Trading Down 1.1 %

Shares of CTAS opened at $224.05 on Thursday. Cintas Co. has a twelve month low of $136.87 and a twelve month high of $228.12. 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 firm has a market capitalization of $90.36 billion, a P/E ratio of 56.58, a PEG ratio of 4.41 and a beta of 1.32. The firm’s 50-day moving average is $211.92 and its two-hundred day moving average is $198.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion for 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 company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.70 EPS. On average, research analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 0.70%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio (DPR) 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.