CFS Investment Advisory Services LLC Has $4.77 Million Stake in Cintas Co. (NASDAQ:CTAS)

CFS Investment Advisory Services LLC grew its holdings in Cintas Co. (NASDAQ:CTAS) by 296.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,185 shares of the business services provider’s stock after purchasing an additional 17,344 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in Cintas were worth $4,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Impax Asset Management Group plc boosted its position in shares of Cintas by 211.1% during the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after purchasing an additional 1,648,350 shares in the last quarter. King Luther Capital Management Corp raised its holdings in shares of Cintas by 293.2% in the 3rd quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock worth $392,056,000 after acquiring an additional 1,419,975 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cintas by 258.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,894,922 shares of the business services provider’s stock valued at $390,127,000 after acquiring an additional 1,365,825 shares in the last quarter. Alecta Tjanstepension Omsesidigt boosted its stake in Cintas by 300.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after purchasing an additional 1,222,500 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Cintas by 299.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,286,525 shares of the business services provider’s stock worth $264,870,000 after purchasing an additional 964,698 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley upped their target price 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. Redburn Atlantic initiated coverage on shares of Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Truist Financial boosted their target price on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Robert W. Baird lifted their target price on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada upped their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Stock Performance

NASDAQ CTAS opened at $221.63 on Friday. The company has a fifty day moving average of $210.36 and a 200-day moving average of $196.74. Cintas Co. has a 52-week low of $136.87 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 company has a market capitalization of $89.38 billion, a P/E ratio of 55.97, a P/E/G ratio of 4.29 and a beta of 1.32.

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

Cintas Dividend Announcement

The business 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 dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.70%. Cintas’s dividend payout ratio (DPR) is currently 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.