Comgest Global Investors S.A.S. Raises Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Comgest Global Investors S.A.S. boosted its stake in Cintas Co. (NASDAQ:CTAS) by 279.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 144,789 shares of the business services provider’s stock after buying an additional 106,613 shares during the period. Comgest Global Investors S.A.S.’s holdings in Cintas were worth $29,809,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LGT Financial Advisors LLC raised its holdings 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 buying an additional 28 shares during the period. Atwood & Palmer Inc. purchased a new stake in Cintas during the second quarter worth about $27,000. Pathway Financial Advisers LLC purchased a new stake in Cintas during the first quarter worth about $29,000. Meeder Asset Management Inc. increased its stake in Cintas by 226.7% during 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 increased its stake in Cintas by 133.3% during 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. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of CTAS stock traded down $1.46 during trading hours on Friday, hitting $215.20. The stock had a trading volume of 1,792,986 shares, compared to its average volume of 1,450,435. The firm has a market capitalization of $86.79 billion, a PE ratio of 54.34, a PEG ratio of 4.40 and a beta of 1.32. Cintas Co. has a twelve month low of $136.50 and a twelve month high of $227.35. The stock’s 50 day moving average is $221.49 and its 200 day moving average is $195.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion during 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%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.70 earnings per share. As a group, research analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas announced that its board has approved a stock buyback program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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 paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CTAS shares. Truist Financial upped their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Royal Bank of Canada upped their target price 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. The Goldman Sachs Group upped their target price on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Morgan Stanley upped their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Finally, Barclays upped their target price on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.