Cintas Co. (NASDAQ:CTAS) Holdings Boosted by Cigna Investments Inc. New

Cigna Investments Inc. New raised its stake in Cintas Co. (NASDAQ:CTAS) by 294.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,625 shares of the business services provider’s stock after acquiring an additional 2,705 shares during the period. Cigna Investments Inc. New’s holdings in Cintas were worth $746,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. LGT Financial Advisors LLC grew its position in shares of Cintas by 311.1% during 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 last quarter. Financial Management Professionals Inc. boosted its stake in Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 99 shares during the period. Atwood & Palmer Inc. bought a new position in Cintas in the 2nd quarter worth about $27,000. Pathway Financial Advisers LLC acquired a new stake in shares of Cintas in the first quarter valued at approximately $29,000. Finally, Grove Bank & Trust raised its holdings in shares of 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 buying an additional 134 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CTAS shares. UBS Group increased their price objective on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Wells Fargo & Company raised their price target on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Stifel Nicolaus upped their price objective on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, Robert W. Baird raised their target price on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Down 0.1 %

CTAS stock opened at $205.62 on Friday. The firm has a market cap of $82.93 billion, a PE ratio of 51.92, a P/E/G ratio of 4.09 and a beta of 1.32. Cintas Co. has a 12 month low of $126.74 and a 12 month high of $215.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The firm has a 50 day simple moving average of $217.75 and a 200 day simple moving average of $191.67.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data 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 company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.70 EPS. Equities research analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas declared that its Board of Directors has approved a stock repurchase program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s dividend payout ratio 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.