Creative Financial Designs Inc. ADV Increases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Creative Financial Designs Inc. ADV grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 286.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,125 shares of the business services provider’s stock after purchasing an additional 834 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Cintas were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CTAS. Alecta Tjanstepension Omsesidigt grew its holdings in Cintas by 300.0% during the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after purchasing an additional 1,222,500 shares during the period. Congress Asset Management Co. lifted its holdings in Cintas by 295.6% in the 3rd quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock worth $161,531,000 after purchasing an additional 586,271 shares in the last quarter. Legal & General Group Plc lifted its holdings in Cintas by 0.4% in the 2nd quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock worth $546,388,000 after purchasing an additional 3,471 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in Cintas by 300.0% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock worth $105,170,000 after purchasing an additional 383,124 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Cintas by 3,302.1% during the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock valued at $103,194,000 after buying an additional 486,500 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

CTAS stock opened at $205.62 on Monday. The stock has a market cap of $82.93 billion, a PE ratio of 51.92, a P/E/G ratio of 4.05 and a beta of 1.32. Cintas Co. has a 12 month low of $126.74 and a 12 month high of $215.37. The company has a 50-day moving average price of $217.75 and a 200 day moving average price of $192.01. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

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

Cintas declared that its Board of Directors has approved a share buyback program on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 yield of 0.76%. Cintas’s payout ratio is 39.39%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. 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 research report on Thursday, September 26th. Truist Financial increased their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Stifel Nicolaus boosted their target price on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research report on Friday, July 19th. Barclays raised their price target on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, UBS Group upped their price objective on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Two investment 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. According to MarketBeat.com, Cintas currently has an average rating of “Hold” and an average 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.