Charles Schwab Investment Management Inc. Purchases 1,365,825 Shares of Cintas Co. (NASDAQ:CTAS)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 258.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,894,922 shares of the business services provider’s stock after acquiring an additional 1,365,825 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Cintas were worth $390,127,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. LGT Financial Advisors LLC boosted its holdings in 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 purchasing an additional 28 shares in the last quarter. Financial Management Professionals Inc. lifted its position in shares of Cintas by 341.4% in the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 99 shares during the last quarter. Hollencrest Capital Management lifted its position in shares of Cintas by 433.3% in the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 104 shares during the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Cintas during the 2nd quarter worth about $27,000. Finally, Addison Advisors LLC increased its holdings in shares of Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 114 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CTAS. Jefferies Financial Group reduced their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. UBS Group upped their price target on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Redburn Atlantic started coverage on Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. Morgan Stanley boosted their price objective on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company raised their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Two investment 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, the company has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Trading Up 0.1 %

Shares of CTAS stock opened at $221.76 on Friday. The firm has a fifty day moving average of $210.64 and a 200-day moving average of $197.09. The stock has a market cap of $89.44 billion, a price-to-earnings ratio of 56.00, a P/E/G ratio of 4.29 and a beta of 1.32. Cintas Co. has a 52-week low of $136.87 and a 52-week high of $227.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53.

Cintas (NASDAQ:CTAS) last posted 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 during 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 company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.70 earnings per share. On average, equities 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 declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio is 39.39%.

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.