Cintas Co. (NASDAQ:CTAS) Shares Acquired by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,976 shares of the business services provider’s stock after acquiring an additional 1,482 shares during the period. Crescent Grove Advisors LLC’s holdings in Cintas were worth $407,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. LGT Financial Advisors LLC lifted 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 acquiring an additional 28 shares during the period. Atwood & Palmer Inc. acquired a new position in Cintas during the second quarter worth $27,000. Pathway Financial Advisers LLC purchased a new stake in Cintas during the first quarter worth $29,000. Meeder Asset Management Inc. grew its holdings in Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 34 shares during the last quarter. Finally, Crewe Advisors LLC raised its stake in shares of Cintas by 133.3% during the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after buying an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 3.8 %

NASDAQ CTAS opened at $217.02 on Thursday. The business has a 50 day moving average price of $218.46 and a two-hundred day moving average price of $192.79. Cintas Co. has a fifty-two week low of $129.15 and a fifty-two week high of $217.51. 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 has a market cap of $87.52 billion, a PE ratio of 54.80, a P/E/G ratio of 4.05 and a beta of 1.32.

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 the consensus estimate 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 analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the firm posted $3.70 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts predict that Cintas Co. will post 4.23 EPS for the current fiscal year.

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

Cintas Dividend Announcement

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 given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Friday, November 15th. Cintas’s payout ratio is currently 39.39%.

Analyst Ratings Changes

CTAS has been the subject of several recent research reports. Stifel Nicolaus raised their target price on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Redburn Atlantic initiated coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Morgan Stanley raised their price target on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Finally, Jefferies Financial Group lowered 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. Two investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $199.63.

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.