Catalina Capital Group LLC Buys Shares of 1,147 Cintas Co. (NASDAQ:CTAS)

Catalina Capital Group LLC purchased a new position in shares of Cintas Co. (NASDAQ:CTAS) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,147 shares of the business services provider’s stock, valued at approximately $236,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LGT Financial Advisors LLC lifted 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 buying an additional 28 shares during the period. Financial Management Professionals Inc. boosted its holdings in Cintas by 341.4% in the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 99 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in Cintas during the 2nd quarter valued at approximately $27,000. Pathway Financial Advisers LLC bought a new position in Cintas during the 1st quarter worth approximately $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 purchasing an additional 134 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of CTAS opened at $217.02 on Thursday. The firm has a market capitalization of $87.52 billion, a P/E ratio of 54.80, a P/E/G ratio of 4.05 and a beta of 1.32. Cintas Co. has a 52 week low of $129.15 and a 52 week high of $217.51. The stock has a 50 day moving average price of $218.46 and a two-hundred day moving average price of $192.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. The company 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%. Cintas’s quarterly 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. Equities analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

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

Cintas Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Robert W. Baird lifted their price objective on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Jefferies Financial Group cut their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Morgan Stanley lifted their target price on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Finally, Stifel Nicolaus boosted their price target on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $199.63.

About Cintas

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.