Farmers & Merchants Investments Inc. Grows Stock Position in Cintas Co. (NASDAQ:CTAS)

Farmers & Merchants Investments Inc. lifted its holdings in Cintas Co. (NASDAQ:CTAS) by 300.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,320 shares of the business services provider’s stock after purchasing an additional 990 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Cintas were worth $272,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. LGT Financial Advisors LLC raised its position in Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after acquiring an additional 28 shares during the period. Financial Management Professionals Inc. increased its stake in shares of Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 99 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Cintas in the 2nd quarter worth $27,000. Pathway Financial Advisers LLC bought a new position in Cintas in the 1st quarter worth $29,000. Finally, Grove Bank & Trust lifted its position in Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on CTAS shares. Jefferies Financial Group decreased 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. Barclays raised their target price 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. Royal Bank of Canada upped their price target on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Stifel Nicolaus raised their price objective on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research report on Friday, July 19th. Finally, Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $199.63.

Cintas Trading Up 0.3 %

CTAS stock opened at $209.14 on Wednesday. Cintas Co. has a fifty-two week low of $124.07 and a fifty-two week high of $215.37. 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 price of $217.14 and a 200 day moving average price of $191.17. The firm has a market cap of $21.22 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its 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 firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the company earned $3.70 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. Sell-side analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. Cintas’s dividend payout ratio (DPR) is 10.77%.

Cintas announced that its board 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 reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.