MONECO Advisors LLC Buys 2,105 Shares of Cintas Co. (NASDAQ:CTAS)

MONECO Advisors LLC grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 298.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,811 shares of the business services provider’s stock after acquiring an additional 2,105 shares during the quarter. MONECO Advisors LLC’s holdings in Cintas were worth $579,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CTAS. Alecta Tjanstepension Omsesidigt raised its stake in Cintas by 300.0% in 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 in the last quarter. SG Americas Securities LLC increased its holdings in Cintas by 3,302.1% in 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 during the period. Bank Pictet & Cie Europe AG raised its position in shares of 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 valued at $105,170,000 after buying an additional 383,124 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Cintas by 305.4% during the 3rd quarter. Raymond James & Associates now owns 484,068 shares of the business services provider’s stock worth $99,660,000 after acquiring an additional 364,659 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in shares of Cintas by 123.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock worth $256,326,000 after acquiring an additional 201,955 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTAS has been the subject of several research analyst reports. UBS Group boosted their price objective on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wells Fargo & Company upped their price objective on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Jefferies Financial Group reduced their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Barclays boosted their target price on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Finally, Redburn Atlantic initiated coverage on shares of Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Trading Up 0.3 %

Shares of NASDAQ CTAS opened at $209.14 on Wednesday. The stock has a market cap of $21.22 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The firm has a 50 day moving average price of $217.14 and a two-hundred day moving average price of $191.17. 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 Co. has a 52-week low of $124.07 and a 52-week high of $215.37.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data 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. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. Cintas’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.70 earnings per share. As a group, equities analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. Cintas’s dividend payout ratio is currently 10.77%.

Cintas announced that its Board of Directors has approved a stock buyback plan 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 purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.