J. W. Coons Advisors LLC Purchases 3,965 Shares of Cintas Co. (NASDAQ:CTAS)

J. W. Coons Advisors LLC raised its position in shares of Cintas Co. (NASDAQ:CTAS) by 292.6% during the 3rd quarter, Holdings Channel reports. The fund owned 5,320 shares of the business services provider’s stock after purchasing an additional 3,965 shares during the period. J. W. Coons Advisors LLC’s holdings in Cintas were worth $1,095,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LGT Financial Advisors LLC raised its position in shares of Cintas by 311.1% during 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 in the last quarter. Financial Management Professionals Inc. boosted its holdings in shares of Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 99 shares during the period. Hollencrest Capital Management increased its position in shares of Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 104 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in Cintas during the 2nd quarter valued at $27,000. Finally, Addison Advisors LLC boosted its stake in Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after buying an additional 114 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of research analyst reports. Barclays raised their price target on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Royal Bank of Canada lifted their target price on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Wells Fargo & Company upped their price objective on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. Truist Financial raised their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Finally, Robert W. Baird upped their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Trading Down 0.9 %

Cintas stock opened at $215.20 on Monday. The stock has a 50-day moving average price of $221.49 and a 200 day moving average price of $195.70. The company has a market capitalization of $86.79 billion, a price-to-earnings ratio of 54.34, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32. Cintas Co. has a 52 week low of $136.50 and a 52 week high of $227.35. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

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 firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.70 earnings per share. Sell-side analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

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

Cintas announced that its board has approved a stock buyback program 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 reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management 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.