Cintas Co. (NASDAQ:CTAS) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale reduced its stake in shares of Cintas Co. (NASDAQ:CTAS) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,094 shares of the business services provider’s stock after selling 1,260 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Cintas were worth $14,370,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. LGT Financial Advisors LLC raised its stake in Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. purchased a new position in shares of Cintas in the 2nd quarter worth $27,000. Pathway Financial Advisers LLC acquired a new position in Cintas in the first quarter valued at $29,000. Meeder Asset Management Inc. grew its position in Cintas by 226.7% during the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 34 shares during the period. Finally, Crewe Advisors LLC increased its stake in Cintas by 133.3% during the second quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after acquiring an additional 32 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Up 0.3 %

CTAS stock opened at $209.14 on Wednesday. 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 simple moving average of $217.14 and a 200-day simple moving average of $191.17. The company has a market capitalization of $21.22 billion, a P/E ratio of 14.44, a PEG ratio of 4.12 and a beta of 1.32. Cintas Co. has a twelve month low of $124.07 and a twelve month high of $215.37.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the business earned $3.70 EPS. On average, equities research analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.75%. Cintas’s dividend payout ratio is presently 10.77%.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on CTAS shares. Jefferies Financial Group decreased their target price on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Truist Financial boosted their price objective 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. Barclays raised their target price on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Morgan Stanley increased 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. Finally, Stifel Nicolaus boosted their price objective on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.