Cintas Co. (NASDAQ:CTAS) Position Increased by Glenmede Trust Co. NA

Glenmede Trust Co. NA increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 295.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 34,351 shares of the business services provider’s stock after acquiring an additional 25,675 shares during the period. Glenmede Trust Co. NA’s holdings in Cintas were worth $7,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Atria Investments Inc grew its holdings in Cintas by 291.7% in the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock worth $4,595,000 after buying an additional 16,623 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Cintas by 343.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock valued at $22,976,000 after purchasing an additional 86,460 shares in the last quarter. Creative Planning lifted its holdings in Cintas by 34.4% in the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after purchasing an additional 4,957 shares during the period. Western Financial Corp CA grew its position in Cintas by 628.2% in the 3rd quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock valued at $2,429,000 after buying an additional 10,177 shares in the last quarter. Finally, Portside Wealth Group LLC increased its stake in Cintas by 361.9% during the 3rd quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock valued at $287,000 after buying an additional 1,093 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CTAS. Barclays increased their price objective on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Redburn Atlantic began coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. Truist Financial upped their price objective on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Jefferies Financial Group lowered their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Finally, Royal Bank of Canada raised their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Stock Up 0.8 %

Shares of Cintas stock opened at $225.79 on Friday. Cintas Co. has a 1 year low of $136.87 and a 1 year high of $228.12. The company has a market cap of $91.06 billion, a P/E ratio of 57.02, a P/E/G ratio of 4.41 and a beta of 1.32. 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 50-day moving average price of $212.76 and a 200 day moving average price of $198.87.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the company posted $3.70 earnings per share. As a group, analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared 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. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

About Cintas

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.