Cintas Co. (NASDAQ:CTAS) Shares Bought by Continuum Advisory LLC

Continuum Advisory LLC raised its holdings in Cintas Co. (NASDAQ:CTAS) by 260.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,673 shares of the business services provider’s stock after purchasing an additional 4,822 shares during the period. Continuum Advisory LLC’s holdings in Cintas were worth $1,448,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp increased its holdings in Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after acquiring an additional 10,910,285 shares in the last quarter. FMR LLC increased its stake in shares of Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after purchasing an additional 6,571,128 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Cintas by 308.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after purchasing an additional 1,904,926 shares during the last quarter. Impax Asset Management Group plc raised its position in shares of Cintas by 211.1% during the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after purchasing an additional 1,648,350 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its stake in Cintas by 293.2% in the 3rd quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock valued at $392,056,000 after buying an additional 1,419,975 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Performance

NASDAQ CTAS opened at $208.30 on Tuesday. The stock has a fifty day simple moving average of $214.62 and a 200-day simple moving average of $201.21. 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 stock has a market cap of $84.01 billion, a PE ratio of 52.60, a P/E/G ratio of 4.41 and a beta of 1.34. Cintas Co. has a twelve month low of $138.39 and a twelve month high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating 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 business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the business earned $3.70 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current 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 paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is 39.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CTAS shares. UBS Group boosted their price objective on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Robert W. Baird boosted 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. The Goldman Sachs Group raised their price objective on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Morgan Stanley upped their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Finally, Truist Financial raised their price target 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $199.63.

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.