Cintas Co. (NASDAQ:CTAS) Shares Bought by EnRich Financial Partners LLC

EnRich Financial Partners LLC raised its holdings in Cintas Co. (NASDAQ:CTAS) by 300.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 396 shares of the business services provider’s stock after buying an additional 297 shares during the quarter. EnRich Financial Partners LLC’s holdings in Cintas were worth $82,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Meeder Advisory Services Inc. raised its position in shares of Cintas by 283.2% in the 3rd quarter. Meeder Advisory Services Inc. now owns 14,309 shares of the business services provider’s stock valued at $2,946,000 after purchasing an additional 10,575 shares during the last quarter. Drive Wealth Management LLC raised its holdings in shares of Cintas by 308.9% in the third quarter. Drive Wealth Management LLC now owns 1,832 shares of the business services provider’s stock worth $377,000 after buying an additional 1,384 shares during the last quarter. J. W. Coons Advisors LLC lifted its stake in shares of Cintas by 292.6% during the third quarter. J. W. Coons Advisors LLC now owns 5,320 shares of the business services provider’s stock worth $1,095,000 after buying an additional 3,965 shares during the period. Braun Stacey Associates Inc. grew its holdings in shares of Cintas by 243.1% during the third quarter. Braun Stacey Associates Inc. now owns 4,828 shares of the business services provider’s stock valued at $994,000 after buying an additional 3,421 shares during the last quarter. Finally, GLOBALT Investments LLC GA increased its position in shares of Cintas by 277.0% in the 3rd quarter. GLOBALT Investments LLC GA now owns 34,154 shares of the business services provider’s stock valued at $7,032,000 after acquiring an additional 25,094 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Morgan Stanley lifted their price target on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Jefferies Financial Group cut their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Barclays lifted their price objective on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. UBS Group increased their price objective on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada boosted their target price on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating 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 given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $199.63.

Cintas Stock Up 0.5 %

Shares of NASDAQ CTAS opened at $216.20 on Tuesday. The firm has a market cap of $87.19 billion, a price-to-earnings ratio of 54.60, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32. The company’s 50-day simple moving average is $221.79 and its 200-day simple moving average is $196.06. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a 52-week low of $136.50 and a 52-week high of $227.35.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating 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 firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the company posted $3.70 EPS. Cintas’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities analysts predict that Cintas Co. will post 4.23 EPS for the current fiscal year.

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

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s payout ratio is 39.39%.

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.