American Trust Buys 23,140 Shares of Cintas Co. (NASDAQ:CTAS)

American Trust lifted its position in Cintas Co. (NASDAQ:CTAS) by 284.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 31,277 shares of the business services provider’s stock after purchasing an additional 23,140 shares during the period. Cintas comprises approximately 0.5% of American Trust’s portfolio, making the stock its 28th biggest holding. American Trust’s holdings in Cintas were worth $6,439,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in Cintas by 269.4% during the 2nd quarter. Blue Trust Inc. now owns 410 shares of the business services provider’s stock valued at $282,000 after purchasing an additional 299 shares during the period. Franklin Street Advisors Inc. NC bought a new stake in shares of Cintas during the 2nd quarter valued at about $15,236,000. Unique Wealth LLC purchased a new position in shares of Cintas during the second quarter valued at about $246,000. Sumitomo Life Insurance Co. raised its stake in Cintas by 35.3% in the second quarter. Sumitomo Life Insurance Co. now owns 4,290 shares of the business services provider’s stock worth $3,004,000 after buying an additional 1,119 shares in the last quarter. Finally, Oakworth Capital Inc. lifted its holdings in Cintas by 187.5% in the second quarter. Oakworth Capital Inc. now owns 230 shares of the business services provider’s stock worth $161,000 after buying an additional 150 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Trading Up 0.3 %

Shares of Cintas stock opened at $211.59 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The stock has a market capitalization of $85.33 billion, a PE ratio of 53.43, a P/E/G ratio of 4.15 and a beta of 1.33. Cintas Co. has a 1-year low of $138.39 and a 1-year high of $228.12. The company’s fifty day simple moving average is $215.00 and its 200-day simple moving average is $201.62.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results 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 business 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 business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.70 earnings per share. As a group, equities analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.74%. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CTAS. Morgan Stanley increased their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday. Royal Bank of Canada boosted their target price on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Robert W. Baird lifted their price target on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Jefferies Financial Group cut their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Finally, Wells Fargo & Company raised their price target on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cintas presently has an average rating of “Hold” and a consensus price target of $200.77.

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.