Cintas Co. (NASDAQ:CTAS) Position Boosted by Addison Advisors LLC

Addison Advisors LLC lifted its stake in Cintas Co. (NASDAQ:CTAS) by 495.7% in the third quarter, Holdings Channel.com reports. The firm owned 137 shares of the business services provider’s stock after acquiring an additional 114 shares during the quarter. Addison Advisors LLC’s holdings in Cintas were worth $28,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Chartwell Investment Partners LLC lifted its position in Cintas by 300.0% in the 3rd quarter. Chartwell Investment Partners LLC now owns 16,108 shares of the business services provider’s stock worth $3,316,000 after buying an additional 12,081 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in Cintas in the third quarter valued at about $618,000. Ashton Thomas Securities LLC increased its position in Cintas by 306.1% in the 3rd quarter. Ashton Thomas Securities LLC now owns 2,412 shares of the business services provider’s stock worth $497,000 after purchasing an additional 1,818 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Cintas by 211.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider’s stock worth $234,826,000 after purchasing an additional 774,551 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Cintas by 304.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 132,364 shares of the business services provider’s stock valued at $27,251,000 after buying an additional 99,650 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Performance

CTAS opened at $224.11 on Tuesday. The stock’s 50 day simple moving average is $219.35 and its 200-day simple moving average is $193.77. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a market cap of $90.38 billion, a PE ratio of 56.59, a P/E/G ratio of 4.45 and a beta of 1.32. Cintas Co. has a 1 year low of $132.65 and a 1 year high of $227.35.

Cintas (NASDAQ:CTAS) last announced its quarterly 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. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.70 EPS. Sell-side analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its Board of Directors has initiated a share buyback plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Cintas Announces Dividend

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 issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s payout ratio is 39.39%.

Wall Street Analyst Weigh In

CTAS has been the topic of several analyst reports. Barclays increased their price target 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. Morgan Stanley raised their price objective on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. 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. Truist Financial lifted their price target on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Finally, Wells Fargo & Company upped their price objective on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” 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, the company has an average rating of “Hold” and a consensus target price of $199.63.

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.