Cintas Co. (NASDAQ:CTAS) Stock Position Boosted by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 316.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,084 shares of the business services provider’s stock after buying an additional 20,573 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Cintas were worth $5,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Checchi Capital Advisers LLC increased its position in Cintas by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after purchasing an additional 14 shares during the last quarter. Axxcess Wealth Management LLC increased its holdings in Cintas by 0.5% in the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after buying an additional 14 shares during the last quarter. Field & Main Bank raised its position in Cintas by 25.0% during the second quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 15 shares in the last quarter. Drive Wealth Management LLC lifted its stake in Cintas by 3.7% in the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after acquiring an additional 16 shares during the last quarter. Finally, TIAA Trust National Association grew its position in Cintas by 1.2% in the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after acquiring an additional 16 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of recent research reports. Redburn Atlantic began coverage on shares of Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. Royal Bank of Canada raised their target price on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Jefferies Financial Group decreased their price target on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Morgan Stanley raised their price objective on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Finally, Robert W. Baird upped their target price on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cintas currently has an average rating of “Hold” and an average target price of $199.63.

Cintas Stock Performance

NASDAQ CTAS opened at $208.99 on Wednesday. The company’s fifty day moving average is $218.11 and its two-hundred day moving average is $192.62. Cintas Co. has a 52-week low of $128.92 and a 52-week high of $215.37. 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 firm has a market capitalization of $84.29 billion, a price-to-earnings ratio of 52.78, a P/E/G ratio of 4.05 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its 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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the business earned $3.70 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its Board of Directors has initiated a share repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to reacquire 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 stock is undervalued.

Cintas Dividend Announcement

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