Logan Capital Management Inc. Has $29.11 Million Position in Cintas Co. (NASDAQ:CTAS)

Logan Capital Management Inc. grew its position in Cintas Co. (NASDAQ:CTAS) by 294.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 141,381 shares of the business services provider’s stock after purchasing an additional 105,574 shares during the period. Cintas comprises approximately 1.2% of Logan Capital Management Inc.’s holdings, making the stock its 15th biggest holding. Logan Capital Management Inc.’s holdings in Cintas were worth $29,107,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. State Street Corp increased its stake in shares of Cintas by 299.3% in the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after buying an additional 10,910,285 shares in the last quarter. FMR LLC lifted its position in Cintas by 297.3% during the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after buying an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC grew its holdings in Cintas by 309.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after acquiring an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. increased its position in Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after acquiring an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cintas by 308.2% in the third 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 acquiring an additional 1,904,926 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

NASDAQ:CTAS traded down $0.31 during mid-day trading on Friday, hitting $211.28. The stock had a trading volume of 76,848 shares, compared to its average volume of 1,456,081. Cintas Co. has a twelve month low of $138.39 and a twelve month high of $228.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The stock has a market cap of $85.21 billion, a price-to-earnings ratio of 53.43, a PEG ratio of 4.15 and a beta of 1.33. The company’s 50 day simple moving average is $215.00 and its 200 day simple moving average is $201.62.

Cintas (NASDAQ:CTAS) last released 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 firm 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%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.70 earnings per share. On average, equities research analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given 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 0.74%. Cintas’s payout ratio is presently 39.39%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Robert W. Baird increased their price target on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. The Goldman Sachs Group upped 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. Barclays raised their target price on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, UBS Group upped their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $200.77.

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.