NorthRock Partners LLC Has $1.17 Million Holdings in Cintas Co. (NASDAQ:CTAS)

NorthRock Partners LLC increased its position in Cintas Co. (NASDAQ:CTAS) by 160.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,670 shares of the business services provider’s stock after acquiring an additional 3,494 shares during the quarter. NorthRock Partners LLC’s holdings in Cintas were worth $1,167,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Checchi Capital Advisers LLC boosted its holdings in Cintas by 0.9% in the second 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 grew its position in shares of Cintas by 0.5% in the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after purchasing an additional 14 shares during the period. Field & Main Bank raised its holdings in Cintas by 25.0% during the 2nd 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 increased its position in shares of Cintas by 3.7% during the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after acquiring an additional 16 shares in the last quarter. Finally, TIAA Trust National Association raised its holdings in shares of Cintas by 1.2% during the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after acquiring an additional 16 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CTAS shares. 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. Redburn Atlantic began coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective on the stock. UBS Group increased their target price on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Truist Financial boosted their price target on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, Wells Fargo & Company lifted their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Two research 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $199.63.

Cintas Stock Up 0.8 %

NASDAQ CTAS traded up $1.59 on Tuesday, reaching $209.15. The company had a trading volume of 63,420 shares, compared to its average volume of 1,445,507. 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 company’s fifty day moving average is $217.93 and its 200 day moving average is $192.31. Cintas Co. has a 52-week low of $128.92 and a 52-week high of $215.37. The stock has a market capitalization of $84.35 billion, a P/E ratio of 52.41, a P/E/G ratio of 4.05 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 39.56% and a net margin of 16.80%. The business’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.70 earnings per share. Sell-side analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

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 repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. Cintas’s payout ratio is 39.39%.

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.