Summit Trail Advisors LLC Acquires 4,531 Shares of Cintas Co. (NASDAQ:CTAS)

Summit Trail Advisors LLC grew its holdings in Cintas Co. (NASDAQ:CTAS) by 335.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,882 shares of the business services provider’s stock after acquiring an additional 4,531 shares during the quarter. Summit Trail Advisors LLC’s holdings in Cintas were worth $1,211,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. LGT Financial Advisors LLC increased its stake in Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares in the last quarter. Financial Management Professionals Inc. increased its position in shares of Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 99 shares in the last quarter. Hollencrest Capital Management raised its holdings in shares of Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares during the period. Atwood & Palmer Inc. bought a new stake in Cintas in the 2nd quarter valued at $27,000. Finally, Addison Advisors LLC boosted its stake in Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CTAS shares. The Goldman Sachs Group lifted their price target on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Barclays boosted their target price on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Jefferies Financial Group decreased their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Robert W. Baird boosted their price objective 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. Finally, Wells Fargo & Company raised their target price on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $199.63.

Cintas Price Performance

NASDAQ:CTAS opened at $221.76 on Monday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average price is $210.64 and its two-hundred day moving average price is $197.43. The firm has a market capitalization of $89.44 billion, a price-to-earnings ratio of 56.00, a P/E/G ratio of 4.36 and a beta of 1.32. Cintas Co. has a 12-month low of $136.87 and a 12-month high of $227.35.

Cintas (NASDAQ:CTAS) last posted 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 analyst estimates of $2.49 billion. During the same period in the previous year, the firm earned $3.70 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. On average, analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio is presently 39.39%.

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.