Angeles Wealth Management LLC Raises Position in Cintas Co. (NASDAQ:CTAS)

Angeles Wealth Management LLC increased its holdings in Cintas Co. (NASDAQ:CTAS) by 281.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,088 shares of the business services provider’s stock after buying an additional 5,967 shares during the period. Angeles Wealth Management LLC’s holdings in Cintas were worth $1,665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LGT Financial Advisors LLC raised its position in Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in Cintas during the second quarter valued at about $27,000. Pathway Financial Advisers LLC purchased a new stake in Cintas during the first quarter valued at about $29,000. Meeder Asset Management Inc. raised 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 purchasing an additional 34 shares in the last quarter. Finally, Crewe Advisors LLC raised its position in Cintas by 133.3% during the second quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the topic of a number of research reports. Redburn Atlantic started coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. Barclays raised 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. Morgan Stanley raised their target price on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Wells Fargo & Company raised their target price on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. Finally, UBS Group raised their target price on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Stock Down 0.1 %

Shares of CTAS stock traded down $0.19 during trading hours on Friday, hitting $205.62. 1,099,834 shares of the company’s stock traded hands, compared to its average volume of 1,118,311. Cintas Co. has a 12-month low of $126.74 and a 12-month high of $215.37. The stock has a market cap of $82.93 billion, a price-to-earnings ratio of 51.92, a PEG ratio of 4.05 and a beta of 1.32. The stock’s fifty day simple moving average is $217.75 and its two-hundred day simple moving average is $191.84. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

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 analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the business earned $3.70 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

The company also recently declared 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 0.76%. Cintas’s payout ratio is 39.39%.

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

About Cintas

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.