Cintas Co. (NASDAQ:CTAS) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 372.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 23,392 shares of the business services provider’s stock after purchasing an additional 18,440 shares during the quarter. Advisors Asset Management Inc.’s holdings in Cintas were worth $4,816,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bessemer Group Inc. boosted its stake in shares of Cintas by 88.8% during the 1st quarter. Bessemer Group Inc. now owns 3,864 shares of the business services provider’s stock worth $2,656,000 after acquiring an additional 1,817 shares in the last quarter. Natixis acquired a new stake in shares of Cintas during the first quarter worth $346,000. Axxcess Wealth Management LLC raised its position in shares of Cintas by 25.9% during the first quarter. Axxcess Wealth Management LLC now owns 2,891 shares of the business services provider’s stock worth $1,987,000 after purchasing an additional 595 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Cintas by 96.1% during the first quarter. Canada Pension Plan Investment Board now owns 40,910 shares of the business services provider’s stock worth $28,106,000 after purchasing an additional 20,050 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of Cintas during the first quarter worth $126,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CTAS. UBS Group boosted their target price on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Truist Financial boosted their target price on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Morgan Stanley boosted 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. Royal Bank of Canada lifted their price target on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Finally, Wells Fargo & Company lifted 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Cintas currently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $221.63 on Friday. The business’s 50-day moving average price is $210.36 and its two-hundred day moving average price is $196.74. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. Cintas Co. has a one year low of $136.87 and a one year high of $227.35. The company has a market capitalization of $89.38 billion, a P/E ratio of 55.97, a price-to-earnings-growth ratio of 4.29 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last issued its earnings results 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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company posted $3.70 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. Analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given 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 0.70%. Cintas’s dividend payout ratio is currently 39.39%.

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.