Cintas Co. (NASDAQ:CTAS) Shares Purchased by Swiss National Bank

Swiss National Bank grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 301.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,084,400 shares of the business services provider’s stock after purchasing an additional 814,000 shares during the quarter. Swiss National Bank’s holdings in Cintas were worth $223,256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CTAS. Impax Asset Management Group plc increased its stake in Cintas by 211.1% during the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after buying an additional 1,648,350 shares during the period. Alecta Tjanstepension Omsesidigt increased its position in shares of Cintas by 300.0% during the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after acquiring an additional 1,222,500 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Cintas by 211.6% in the third quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider’s stock worth $234,826,000 after acquiring an additional 774,551 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Cintas by 291.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 889,402 shares of the business services provider’s stock valued at $183,110,000 after purchasing an additional 662,431 shares during the last quarter. Finally, Congress Asset Management Co. increased its holdings in Cintas by 295.6% during the 3rd quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock worth $161,531,000 after purchasing an additional 586,271 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $215.20 on Monday. Cintas Co. has a 1-year low of $136.50 and a 1-year high of $227.35. The firm has a market capitalization of $86.79 billion, a PE ratio of 54.34, a P/E/G 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 business’s fifty day moving average price is $221.49 and its two-hundred day moving average price is $195.70.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data 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. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.70 EPS. On average, research analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its Board of Directors has initiated a share buyback program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Cintas Announces Dividend

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

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of recent analyst reports. Redburn Atlantic started coverage on shares of Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target for the company. The Goldman Sachs Group raised their price objective on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Morgan Stanley upped their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note 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. Finally, Robert W. Baird upped their price objective on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Cintas 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.