Cintas Co. (NASDAQ:CTAS) Shares Purchased by Ritter Daniher Financial Advisory LLC DE

Ritter Daniher Financial Advisory LLC DE raised its stake in Cintas Co. (NASDAQ:CTAS) by 282.6% in the third quarter, HoldingsChannel.com reports. The fund owned 16,980 shares of the business services provider’s stock after purchasing an additional 12,542 shares during the quarter. Cintas comprises approximately 1.0% of Ritter Daniher Financial Advisory LLC DE’s portfolio, making the stock its 16th biggest position. Ritter Daniher Financial Advisory LLC DE’s holdings in Cintas were worth $3,496,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Barclays boosted their price objective on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Wells Fargo & Company lifted their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. The Goldman Sachs Group upped their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Morgan Stanley raised their price objective on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Performance

NASDAQ:CTAS opened at $215.20 on Friday. Cintas Co. has a 1-year low of $136.50 and a 1-year high of $227.35. The stock has a market cap of $86.79 billion, a P/E ratio of 54.34, a PEG ratio of 4.24 and a beta of 1.32. 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 50-day moving average of $221.49 and a two-hundred day moving average of $195.50.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data 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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the firm earned $3.70 EPS. Cintas’s quarterly revenue was up 6.8% on a year-over-year basis. On average, research analysts expect that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.72%. Cintas’s dividend payout ratio (DPR) is 39.39%.

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

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.