Central Bank & Trust Co. Has $267,000 Holdings in Cintas Co. (NASDAQ:CTAS)

Central Bank & Trust Co. grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,296 shares of the business services provider’s stock after acquiring an additional 972 shares during the period. Central Bank & Trust Co.’s holdings in Cintas were worth $267,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Impax Asset Management Group plc increased its position in 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 worth $499,236,000 after buying an additional 1,648,350 shares during the last quarter. Alecta Tjanstepension Omsesidigt increased its holdings in shares of Cintas by 300.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after acquiring an additional 1,222,500 shares during the last quarter. Congress Asset Management Co. raised its stake in shares of Cintas by 295.6% in the 3rd quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock valued at $161,531,000 after acquiring an additional 586,271 shares in the last quarter. Legal & General Group Plc lifted its holdings in Cintas by 0.4% in the 2nd quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock worth $546,388,000 after purchasing an additional 3,471 shares during the last quarter. Finally, National Pension Service boosted its position in Cintas by 362.8% during the third quarter. National Pension Service now owns 736,193 shares of the business services provider’s stock worth $151,567,000 after purchasing an additional 577,135 shares during the period. Institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. UBS Group raised their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Stifel Nicolaus boosted their price objective on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Truist Financial raised their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group upped their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Cintas has an average rating of “Hold” and an average price target of $199.63.

Cintas Stock Performance

NASDAQ CTAS opened at $208.99 on Wednesday. Cintas Co. has a twelve month low of $128.92 and a twelve month high of $215.37. 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 stock has a market cap of $84.29 billion, a P/E ratio of 52.78, a PEG ratio of 4.05 and a beta of 1.32. The company’s 50-day simple moving average is $218.11 and its 200 day simple moving average is $192.62.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.70 EPS. As a group, research analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.75%. Cintas’s dividend payout ratio is currently 39.39%.

Cintas announced that its board has authorized a stock buyback program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

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.