Valley Wealth Managers Inc. Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

Valley Wealth Managers Inc. boosted its stake in Cintas Co. (NASDAQ:CTAS) by 300.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 320 shares of the business services provider’s stock after acquiring an additional 240 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Cintas were worth $66,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC increased its position in shares of Cintas by 311.1% during 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. grew its holdings in shares of Cintas by 341.4% during 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 in the last quarter. Hollencrest Capital Management boosted its position in Cintas by 433.3% during the third 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 stake in Cintas during the 2nd quarter valued at about $27,000. Finally, Addison Advisors LLC raised its holdings in Cintas by 495.7% in 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. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CTAS. Royal Bank of Canada boosted 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. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Truist Financial increased their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Morgan Stanley boosted their price objective on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Finally, UBS Group raised their price objective on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note 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, the company currently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Trading Down 0.7 %

NASDAQ:CTAS opened at $215.20 on Friday. 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 Co. has a 1 year low of $136.50 and a 1 year high of $227.35. The stock has a market cap of $86.79 billion, a P/E ratio of 54.34, a P/E/G ratio of 4.40 and a beta of 1.32. The stock has a 50-day simple moving average of $221.49 and a 200-day simple moving average of $195.28.

Cintas (NASDAQ:CTAS) last announced 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. 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 analyst estimates of $2.49 billion. During the same period last year, the business earned $3.70 EPS. Cintas’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

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 given a dividend of $0.39 per share. 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 dividend payout ratio (DPR) is 39.39%.

Cintas declared that its Board of Directors has initiated a share repurchase program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Cintas Company 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.