1,493 Shares in Cintas Co. (NASDAQ:CTAS) Acquired by Consolidated Planning Corp

Consolidated Planning Corp bought a new position in Cintas Co. (NASDAQ:CTAS) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 1,493 shares of the business services provider’s stock, valued at approximately $307,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. LGT Financial Advisors LLC raised its stake in shares of 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 buying an additional 28 shares during the period. Financial Management Professionals Inc. increased its holdings in 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 acquiring an additional 99 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in Cintas during the 2nd quarter worth approximately $27,000. Pathway Financial Advisers LLC purchased a new position in Cintas during the first quarter valued at approximately $29,000. Finally, Grove Bank & Trust boosted its position in shares of Cintas by 1,340.0% in the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after purchasing an additional 134 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $225.72 on Friday. 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 $219.35 and a 200 day moving average price of $193.39. Cintas Co. has a fifty-two week low of $131.24 and a fifty-two week high of $227.24. The firm has a market cap of $91.03 billion, a price-to-earnings ratio of 57.00, a P/E/G ratio of 4.09 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 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 business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the business earned $3.70 earnings per share. Cintas’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts expect that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas declared that its board has approved a stock buyback plan on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.69%. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Robert W. Baird raised their price objective on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Truist Financial raised their price target on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Jefferies Financial Group dropped their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Barclays boosted their price target on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Two equities research 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $199.63.

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.