Bank of Hawaii Raises Stock Position in Cintas Co. (NASDAQ:CTAS)

Bank of Hawaii raised its stake in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,800 shares of the business services provider’s stock after acquiring an additional 1,350 shares during the quarter. Bank of Hawaii’s holdings in Cintas were worth $371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Impax Asset Management Group plc lifted its stake in 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 valued at $499,236,000 after buying an additional 1,648,350 shares in the last quarter. King Luther Capital Management Corp raised its holdings in shares of Cintas by 293.2% during the third quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock valued at $392,056,000 after acquiring an additional 1,419,975 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Cintas by 258.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,894,922 shares of the business services provider’s stock valued at $390,127,000 after acquiring an additional 1,365,825 shares in the last quarter. Alecta Tjanstepension Omsesidigt boosted its stake in shares of Cintas by 300.0% in the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after acquiring an additional 1,222,500 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Cintas by 299.8% during the third quarter. PNC Financial Services Group Inc. now owns 1,286,525 shares of the business services provider’s stock worth $264,870,000 after purchasing an additional 964,698 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Up 1.0 %

Shares of CTAS opened at $223.90 on Tuesday. The company’s 50-day moving average price is $211.02 and its 200 day moving average price is $197.78. Cintas Co. has a 12-month low of $136.87 and a 12-month high of $227.35. 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 firm has a market cap of $90.30 billion, a P/E ratio of 56.54, a price-to-earnings-growth ratio of 4.37 and a beta of 1.32.

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, beating analysts’ consensus estimates of $1.00 by $0.10. The business 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 business’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.70 EPS. On average, sell-side analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 0.70%. Cintas’s dividend payout ratio is currently 39.39%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CTAS shares. Barclays lifted their target price 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. Robert W. Baird boosted their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Redburn Atlantic assumed coverage on shares of Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Morgan Stanley boosted their target price on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada increased 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.