J.W. Cole Advisors Inc. Increases Stock Position in Cintas Co. (NASDAQ:CTAS)

J.W. Cole Advisors Inc. increased its position in Cintas Co. (NASDAQ:CTASGet Rating) by 26.0% in the first quarter, Holdings Channel.com reports. The fund owned 726 shares of the business services provider’s stock after purchasing an additional 150 shares during the period. J.W. Cole Advisors Inc.’s holdings in Cintas were worth $309,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. American Trust grew its position in Cintas by 216.7% in the 1st quarter. American Trust now owns 6,856 shares of the business services provider’s stock worth $2,916,000 after purchasing an additional 4,691 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Cintas by 32.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,694 shares of the business services provider’s stock worth $34,326,000 after purchasing an additional 19,900 shares during the period. M Holdings Securities Inc. bought a new stake in Cintas in the 1st quarter worth approximately $359,000. Neuberger Berman Group LLC grew its position in Cintas by 1.6% in the 1st quarter. Neuberger Berman Group LLC now owns 166,764 shares of the business services provider’s stock worth $70,933,000 after purchasing an additional 2,568 shares during the period. Finally, Toroso Investments LLC grew its position in Cintas by 13.3% in the 1st quarter. Toroso Investments LLC now owns 1,845 shares of the business services provider’s stock worth $785,000 after purchasing an additional 216 shares during the period. 76.66% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Down 0.5 %

Shares of CTAS stock opened at $406.00 on Wednesday. The stock has a market cap of $41.43 billion, a P/E ratio of 34.85, a PEG ratio of 3.50 and a beta of 1.44. Cintas Co. has a 52 week low of $343.86 and a 52 week high of $461.44. The company has a quick ratio of 1.51, a current ratio of 1.84 and a debt-to-equity ratio of 0.75. The company’s fifty day simple moving average is $414.86 and its two-hundred day simple moving average is $398.82.

Cintas (NASDAQ:CTASGet Rating) last announced its earnings results on Thursday, July 14th. The business services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.13. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2 billion. Cintas had a net margin of 15.73% and a return on equity of 35.81%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.47 EPS. Analysts predict that Cintas Co. will post 12.14 EPS for the current fiscal year.

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.13%. This is a boost from Cintas’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Friday, August 12th. Cintas’s dividend payout ratio is currently 39.49%.

Wall Street Analysts Forecast Growth

CTAS has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Cintas from $517.00 to $465.00 and set a “buy” rating for the company in a research report on Tuesday, July 5th. Wells Fargo & Company initiated coverage on shares of Cintas in a research report on Tuesday, July 12th. They issued an “equal weight” rating and a $393.00 target price for the company. Morgan Stanley lifted their target price on shares of Cintas from $357.00 to $362.00 and gave the stock an “equal weight” rating in a research report on Friday, July 15th. Royal Bank of Canada cut their price objective on shares of Cintas from $475.00 to $450.00 in a research report on Friday, July 15th. Finally, Robert W. Baird boosted their price objective on shares of Cintas from $440.00 to $475.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas presently has a consensus rating of “Moderate Buy” and a consensus target price of $435.89.

About Cintas

(Get Rating)

Cintas Corporation provides 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.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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