Oppenheimer & Co. Inc. Has $3.32 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Oppenheimer & Co. Inc. raised its stake in Cintas Co. (NASDAQ:CTAS) by 242.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 16,137 shares of the business services provider’s stock after acquiring an additional 11,420 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cintas were worth $3,322,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Orion Portfolio Solutions LLC lifted its holdings in shares of Cintas by 6.5% in the 1st quarter. Orion Portfolio Solutions LLC now owns 5,567 shares of the business services provider’s stock worth $3,825,000 after purchasing an additional 341 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Cintas by 1.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 84,856 shares of the business services provider’s stock valued at $58,136,000 after buying an additional 1,182 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Cintas by 7.2% during the first quarter. Westfield Capital Management Co. LP now owns 14,277 shares of the business services provider’s stock valued at $9,809,000 after buying an additional 954 shares during the last quarter. TIAA Trust National Association increased its position in shares of Cintas by 12.5% during the first quarter. TIAA Trust National Association now owns 1,347 shares of the business services provider’s stock worth $925,000 after acquiring an additional 150 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Cintas by 30.8% in the 1st quarter. Acadian Asset Management LLC now owns 320,070 shares of the business services provider’s stock worth $219,865,000 after acquiring an additional 75,454 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price objective on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. Jefferies Financial Group dropped their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Royal Bank of Canada upped their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. Robert W. Baird raised their price target on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Finally, Morgan Stanley increased their price objective on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Cintas currently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Trading Down 0.7 %

Shares of Cintas stock opened at $215.20 on Friday. The stock has a market capitalization of $86.79 billion, a P/E ratio of 54.34, a P/E/G ratio of 4.40 and a beta of 1.32. Cintas Co. has a 52-week low of $136.50 and a 52-week high of $227.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The stock’s 50-day simple moving average is $221.09 and its 200 day simple moving average is $194.94.

Cintas (NASDAQ:CTAS) last posted its quarterly 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 analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.70 earnings per share. As a group, research analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

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

Cintas Dividend Announcement

The business also recently declared 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 dividend payout ratio (DPR) is presently 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.