KPP Advisory Services LLC Grows Stock Holdings in Cintas Co. (NASDAQ:CTAS)

KPP Advisory Services LLC grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 312.7% in the third quarter, Holdings Channel.com reports. The fund owned 1,791 shares of the business services provider’s stock after purchasing an additional 1,357 shares during the period. KPP Advisory Services LLC’s holdings in Cintas were worth $369,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CTAS. Impax Asset Management Group plc boosted its position in shares of Cintas by 211.1% in the 3rd 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 in the last quarter. Alecta Tjanstepension Omsesidigt increased its stake 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 worth $335,552,000 after purchasing an additional 1,222,500 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Cintas by 211.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider’s stock valued at $234,826,000 after buying an additional 774,551 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Cintas by 291.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 889,402 shares of the business services provider’s stock valued at $183,110,000 after buying an additional 662,431 shares during the last quarter. Finally, Congress Asset Management Co. raised its holdings in shares of Cintas by 295.6% in the third quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock worth $161,531,000 after acquiring an additional 586,271 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 0.7 %

NASDAQ CTAS opened at $215.20 on Friday. The stock has a market cap of $86.79 billion, a PE ratio of 54.34, a P/E/G ratio of 4.40 and a beta of 1.32. The business has a 50 day moving average price of $221.49 and a two-hundred day moving average price of $195.50. Cintas Co. has a fifty-two week low of $136.50 and a fifty-two week high of $227.35. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.70 EPS. As a group, sell-side analysts predict that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas announced that its Board of Directors has authorized a stock buyback plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 0.72%. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Robert W. Baird lifted their price objective on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. UBS Group raised their target price on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. The Goldman Sachs Group boosted 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. Barclays raised their price objective on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, Morgan Stanley increased their target price on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.