LRI Investments LLC Boosts Holdings in Cintas Co. (NASDAQ:CTAS)

LRI Investments LLC raised its stake in Cintas Co. (NASDAQ:CTAS) by 300.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 728 shares of the business services provider’s stock after acquiring an additional 546 shares during the quarter. LRI Investments LLC’s holdings in Cintas were worth $158,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Geller Advisors LLC lifted its holdings in Cintas by 309.1% during the third quarter. Geller Advisors LLC now owns 2,688 shares of the business services provider’s stock valued at $553,000 after purchasing an additional 2,031 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Cintas by 324.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 177,032 shares of the business services provider’s stock worth $36,447,000 after purchasing an additional 135,289 shares during the period. EWA LLC grew its holdings in Cintas by 301.5% during the 3rd quarter. EWA LLC now owns 1,076 shares of the business services provider’s stock valued at $233,000 after buying an additional 808 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Cintas by 309.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 530,491 shares of the business services provider’s stock valued at $109,217,000 after buying an additional 401,003 shares during the period. Finally, MML Investors Services LLC lifted its holdings in shares of Cintas by 359.1% in the third quarter. MML Investors Services LLC now owns 49,713 shares of the business services provider’s stock worth $10,235,000 after buying an additional 38,885 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CTAS. Robert W. Baird raised their price target on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Wells Fargo & Company lifted their price objective on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Morgan Stanley raised their price target on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. The Goldman Sachs Group upped their price objective on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Truist Financial raised their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Cintas has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Price Performance

Shares of CTAS opened at $210.14 on Wednesday. Cintas Co. has a fifty-two week low of $138.39 and a fifty-two week high of $228.12. The firm’s 50-day simple moving average is $214.62 and its two-hundred day simple moving average is $201.21. The stock has a market cap of $84.75 billion, a PE ratio of 53.07, a price-to-earnings-growth ratio of 4.41 and a beta of 1.34. 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 (NASDAQ:CTAS) last announced its quarterly earnings data 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. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. Cintas’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.70 EPS. Analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.74%. Cintas’s payout ratio is 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.