Voya Financial Advisors Inc. Boosts Position in Cintas Co. (NASDAQ:CTAS)

Voya Financial Advisors Inc. boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 494.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,734 shares of the business services provider’s stock after buying an additional 3,937 shares during the period. Voya Financial Advisors Inc.’s holdings in Cintas were worth $958,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CTAS. State Street Corp raised its holdings in Cintas by 299.3% in the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after buying an additional 10,910,285 shares during the period. FMR LLC raised its stake in shares of Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cintas by 308.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after purchasing an additional 1,904,926 shares during the period. Impax Asset Management Group plc raised its stake in shares of Cintas by 211.1% during the third quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock valued at $499,236,000 after purchasing an additional 1,648,350 shares during the period. Finally, King Luther Capital Management Corp raised its stake in shares of Cintas by 293.2% during the third quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock valued at $392,056,000 after purchasing an additional 1,419,975 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CTAS. UBS Group lifted their price target 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. Morgan Stanley lifted 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. The Goldman Sachs Group lifted their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Barclays lifted their price target on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Finally, Redburn Atlantic began coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Cintas presently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Stock Performance

Shares of CTAS opened at $223.22 on Friday. Cintas Co. has a 1 year low of $136.87 and a 1 year high of $228.12. The company has a market cap of $90.02 billion, a price-to-earnings ratio of 56.37, a price-to-earnings-growth ratio of 4.38 and a beta of 1.33. 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 firm has a fifty day moving average of $214.14 and a 200-day moving average of $200.27.

Cintas (NASDAQ:CTAS) last announced 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. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company posted $3.70 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio (DPR) 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.