FSM Wealth Advisors LLC Takes $235,000 Position in Cintas Co. (NASDAQ:CTAS)

FSM Wealth Advisors LLC acquired a new position in shares of Cintas Co. (NASDAQ:CTAS) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,139 shares of the business services provider’s stock, valued at approximately $235,000.

Other hedge funds also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC grew its holdings 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 acquiring an additional 28 shares in the last quarter. Financial Management Professionals Inc. grew its holdings in Cintas by 341.4% during the 3rd 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. Atwood & Palmer Inc. bought a new position in shares of Cintas in the 2nd quarter worth about $27,000. Pathway Financial Advisers LLC bought a new position in shares of Cintas in the 1st quarter worth about $29,000. Finally, Grove Bank & Trust lifted its position in shares of Cintas by 1,340.0% in the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after buying an additional 134 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CTAS. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Stifel Nicolaus raised their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Wells Fargo & Company raised their price target on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Robert W. Baird raised 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. Finally, The Goldman Sachs Group raised their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two 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.com, Cintas presently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Stock Up 0.7 %

CTAS stock opened at $208.99 on Wednesday. Cintas Co. has a 52 week low of $128.92 and a 52 week high of $215.37. The company has a market capitalization of $84.29 billion, a price-to-earnings ratio of 52.78, a price-to-earnings-growth ratio of 4.05 and a beta of 1.32. The firm’s 50-day moving average is $218.11 and its two-hundred day moving average is $192.62. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the firm earned $3.70 EPS. Cintas’s revenue was up 6.8% on a year-over-year basis. On average, analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

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

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