Cintas Co. (NASDAQ:CTAS) Shares Purchased by W.H. Cornerstone Investments Inc.

W.H. Cornerstone Investments Inc. raised its position in Cintas Co. (NASDAQ:CTAS) by 300.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,719 shares of the business services provider’s stock after acquiring an additional 1,290 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in Cintas were worth $354,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CTAS. LGT Financial Advisors LLC increased its position in Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 28 shares during the period. Atwood & Palmer Inc. acquired a new position in shares of Cintas during the second quarter valued at $27,000. Pathway Financial Advisers LLC bought a new stake in shares of Cintas during the first quarter valued at about $29,000. Meeder Asset Management Inc. lifted its holdings in Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after purchasing an additional 34 shares during the period. Finally, Crewe Advisors LLC lifted its holdings in 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 purchasing an additional 32 shares during the period. Institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. The Goldman Sachs Group boosted their target price on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Morgan Stanley increased 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. Royal Bank of Canada boosted their price objective on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. Finally, Truist Financial upped their price objective on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Cintas currently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Trading Up 0.9 %

Cintas stock opened at $207.56 on Tuesday. The company has a 50 day moving average price of $217.93 and a 200 day moving average price of $192.31. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a 52 week low of $128.92 and a 52 week high of $215.37. The firm has a market capitalization of $83.71 billion, a price-to-earnings ratio of 52.41, a P/E/G ratio of 4.05 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas’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 posted $3.70 earnings per share. Research analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is 39.39%.

Cintas declared that its board has authorized a stock buyback plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Cintas 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.