Fmr LLC Increases Holdings in Cintas Co. (NASDAQ:CTAS)

Fmr LLC boosted its position in Cintas Co. (NASDAQ:CTAS) by 297.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,781,132 shares of the business services provider’s stock after buying an additional 6,571,128 shares during the quarter. Fmr LLC owned approximately 2.18% of Cintas worth $1,807,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

Several brokerages recently commented on CTAS. Morgan Stanley lifted their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Redburn Atlantic assumed coverage on shares of Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective on the stock. Jefferies Financial Group dropped their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. UBS Group boosted their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, The Goldman Sachs Group lifted their price objective on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Trading Up 1.1 %

NASDAQ CTAS opened at $226.47 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $91.34 billion, a PE ratio of 57.19, a P/E/G ratio of 4.37 and a beta of 1.32. The stock’s 50 day moving average is $211.47 and its 200 day moving average is $198.14. Cintas Co. has a twelve month low of $136.87 and a twelve month high of $228.12.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the firm earned $3.70 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. Research analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a 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.