Golden State Equity Partners Raises Holdings in Cintas Co. (NASDAQ:CTAS)

Golden State Equity Partners raised its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 226.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,540 shares of the business services provider’s stock after acquiring an additional 1,762 shares during the quarter. Golden State Equity Partners’ holdings in Cintas were worth $523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTAS. Alecta Tjanstepension Omsesidigt boosted its stake in shares of Cintas by 300.0% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after buying an additional 1,222,500 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Cintas by 3,302.1% in the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after buying an additional 486,500 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Cintas by 300.0% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock worth $105,170,000 after purchasing an additional 383,124 shares during the period. Raymond James & Associates raised its holdings in Cintas by 305.4% in the 3rd quarter. Raymond James & Associates now owns 484,068 shares of the business services provider’s stock worth $99,660,000 after purchasing an additional 364,659 shares during the period. Finally, Los Angeles Capital Management LLC raised its holdings in Cintas by 123.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after purchasing an additional 201,955 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTAS has been the topic of a number of recent research reports. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. The Goldman Sachs Group raised their price target on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Jefferies Financial Group decreased their price target on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Royal Bank of Canada raised their price target on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Finally, Redburn Atlantic initiated coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Stock Performance

CTAS stock opened at $207.85 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The business’s fifty day simple moving average is $217.38 and its two-hundred day simple moving average is $191.29. Cintas Co. has a twelve month low of $125.62 and a twelve month high of $215.37. The firm has a market cap of $21.09 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter 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. Analysts predict that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its Board of Directors has authorized a share repurchase 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 buy up to 1.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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 given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. Cintas’s payout ratio is 10.77%.

Cintas Company 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.