Comgest Global Investors S.A.S. Increases Stake in Cintas Co. (NASDAQ:CTAS)

Comgest Global Investors S.A.S. grew its position in Cintas Co. (NASDAQ:CTAS) by 279.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 144,789 shares of the business services provider’s stock after acquiring an additional 106,613 shares during the quarter. Comgest Global Investors S.A.S.’s holdings in Cintas were worth $29,809,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC grew its holdings in Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after acquiring an additional 28 shares in the last quarter. Financial Management Professionals Inc. raised 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 buying an additional 99 shares during the last quarter. Hollencrest Capital Management raised 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 buying an additional 104 shares during the last quarter. Atwood & Palmer Inc. purchased a new position in Cintas during the 2nd quarter worth approximately $27,000. Finally, Addison Advisors LLC raised its position in Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Jefferies Financial Group reduced their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Barclays raised their price target on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Morgan Stanley lifted their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Robert W. Baird lifted their target price on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Finally, Redburn Atlantic started coverage on shares of Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price for the company. Two 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Price Performance

CTAS traded down $1.46 on Friday, hitting $215.20. 1,792,986 shares of the company’s stock were exchanged, compared to its average volume of 1,450,435. Cintas Co. has a fifty-two week low of $136.50 and a fifty-two week 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 50-day moving average price of $221.49 and a 200-day moving average price of $195.28. The stock has a market cap of $86.79 billion, a price-to-earnings ratio of 54.34, a P/E/G ratio of 4.40 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (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 company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the company posted $3.70 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities analysts anticipate 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 0.72%. Cintas’s payout ratio is 39.39%.

Cintas declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

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.