Key Financial Inc Grows Stock Position in Cintas Co. (NASDAQ:CTAS)

Key Financial Inc boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 324.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 344 shares of the business services provider’s stock after acquiring an additional 263 shares during the quarter. Key Financial Inc’s holdings in Cintas were worth $71,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Cintas by 0.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 25,152 shares of the business services provider’s stock valued at $17,280,000 after acquiring an additional 225 shares during the last quarter. Norden Group LLC increased its holdings in Cintas by 120.9% during the 1st quarter. Norden Group LLC now owns 824 shares of the business services provider’s stock worth $566,000 after purchasing an additional 451 shares during the last quarter. J.W. Cole Advisors Inc. increased its holdings in Cintas by 19.7% during the 1st quarter. J.W. Cole Advisors Inc. now owns 639 shares of the business services provider’s stock worth $439,000 after purchasing an additional 105 shares during the last quarter. BNP Paribas purchased a new stake in Cintas during the 1st quarter worth approximately $1,520,000. Finally, Fidelis Capital Partners LLC grew its position in shares of Cintas by 57.2% in the 1st quarter. Fidelis Capital Partners LLC now owns 1,176 shares of the business services provider’s stock worth $808,000 after acquiring an additional 428 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Jefferies Financial Group reduced their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. The Goldman Sachs Group boosted their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. UBS Group boosted their target price on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Redburn Atlantic assumed coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. Finally, Morgan Stanley lifted their price target on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Performance

CTAS stock opened at $205.62 on Friday. The business’s 50-day moving average price is $217.75 and its two-hundred day moving average price is $191.84. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market cap of $82.93 billion, a PE ratio of 51.92, a P/E/G ratio of 4.09 and a beta of 1.32. Cintas Co. has a 1-year low of $126.74 and a 1-year high of $215.37.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.70 earnings per share. As a group, research analysts forecast that Cintas Co. will post 4.23 earnings per share 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 given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio is currently 39.39%.

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

Cintas 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.