Sheaff Brock Investment Advisors LLC Has $2.50 Million Holdings in Cintas Co. (NASDAQ:CTAS)

Sheaff Brock Investment Advisors LLC lifted its stake in Cintas Co. (NASDAQ:CTAS) by 260.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,148 shares of the business services provider’s stock after buying an additional 8,776 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Cintas were worth $2,501,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. LGT Financial Advisors LLC boosted its position in shares of Cintas by 311.1% in the 2nd 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 during the last quarter. Atwood & Palmer Inc. bought a new position in shares of Cintas in the 2nd quarter worth $27,000. Pathway Financial Advisers LLC bought a new position in shares of Cintas in the 1st quarter worth $29,000. Meeder Asset Management Inc. boosted its position in shares of Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after purchasing an additional 34 shares during the last quarter. Finally, Crewe Advisors LLC boosted its position in shares of Cintas by 133.3% in the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after purchasing an additional 32 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Up 0.0 %

CTAS opened at $217.08 on Friday. The company has a 50 day moving average of $220.75 and a 200 day moving average of $194.79. The company has a market cap of $87.55 billion, a PE ratio of 54.81, a price-to-earnings-growth ratio of 4.40 and a beta of 1.32. Cintas Co. has a 12 month low of $136.50 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.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data 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 company had revenue of $2.50 billion during 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%. Cintas’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $3.70 EPS. On average, sell-side analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its Board of Directors has approved 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 often an indication that the company’s board of directors believes its shares are undervalued.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s payout ratio is 39.39%.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several research analyst reports. Jefferies Financial Group dropped their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Robert W. Baird raised their price objective on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Royal Bank of Canada raised their price objective on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. The Goldman Sachs Group raised their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Truist Financial lifted their price target on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Cintas presently has a consensus rating of “Hold” and an average target price of $199.63.

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.