Cintas Co. (NASDAQ:CTAS) Stock Position Lifted by Empower Advisory Group LLC

Empower Advisory Group LLC grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 297.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,716 shares of the business services provider’s stock after buying an additional 1,284 shares during the quarter. Empower Advisory Group LLC’s holdings in Cintas were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in 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. Atwood & Palmer Inc. purchased a new position in Cintas during the 2nd quarter worth approximately $27,000. Pathway Financial Advisers LLC acquired a new stake in Cintas during the 1st quarter valued at $29,000. Meeder Asset Management Inc. lifted its holdings in shares of Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 34 shares in the last quarter. Finally, Crewe Advisors LLC boosted its position in shares of Cintas by 133.3% in the second quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after buying an additional 32 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 2.9 %

NASDAQ CTAS opened at $217.05 on Friday. The stock’s 50 day moving average is $220.75 and its two-hundred day moving average is $194.79. Cintas Co. has a 1-year low of $136.50 and a 1-year high of $227.35. The company has a market capitalization of $87.54 billion, a price-to-earnings ratio of 54.81, a PEG ratio of 4.43 and a beta of 1.32. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.70 EPS. Equities analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas announced that its board has authorized a share buyback plan on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Cintas Announces Dividend

The company also recently announced 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 of this dividend is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CTAS. Robert W. Baird increased their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Stifel Nicolaus lifted their price objective on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research report on Friday, July 19th. Wells Fargo & Company increased 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. Royal Bank of Canada raised their price objective on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group boosted their target price on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.