Summit Trail Advisors LLC Acquires 4,531 Shares of Cintas Co. (NASDAQ:CTAS)

Summit Trail Advisors LLC lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 335.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 5,882 shares of the business services provider’s stock after acquiring an additional 4,531 shares during the period. Summit Trail Advisors LLC’s holdings in Cintas were worth $1,211,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Impax Asset Management Group plc boosted its holdings in Cintas by 211.1% during the third quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock valued at $499,236,000 after purchasing an additional 1,648,350 shares in the last quarter. King Luther Capital Management Corp lifted its position in shares of Cintas by 293.2% during the 3rd quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock worth $392,056,000 after buying an additional 1,419,975 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Cintas by 258.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,894,922 shares of the business services provider’s stock worth $390,127,000 after buying an additional 1,365,825 shares during the period. Alecta Tjanstepension Omsesidigt boosted its stake in Cintas by 300.0% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after buying an additional 1,222,500 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Cintas by 299.8% in the third quarter. PNC Financial Services Group Inc. now owns 1,286,525 shares of the business services provider’s stock valued at $264,870,000 after acquiring an additional 964,698 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on CTAS shares. Redburn Atlantic began coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective for the company. Morgan Stanley boosted their price target on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Jefferies Financial Group dropped their price objective 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. Royal Bank of Canada boosted their target price on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Finally, Robert W. Baird increased their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Trading Up 0.1 %

CTAS opened at $221.76 on Monday. The firm has a 50 day simple moving average of $210.64 and a 200 day simple moving average of $197.43. Cintas Co. has a fifty-two week low of $136.87 and a fifty-two week high of $227.35. The company has a market cap of $89.44 billion, a price-to-earnings ratio of 56.00, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating 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 during 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 business’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.70%. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

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.