Cintas Co. (NASDAQ:CTAS) Shares Acquired by Centennial Bank AR

Centennial Bank AR lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 295.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,644 shares of the business services provider’s stock after buying an additional 4,963 shares during the period. Centennial Bank AR’s holdings in Cintas were worth $1,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. LGT Financial Advisors LLC increased its holdings in shares of Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after buying an additional 28 shares during the last quarter. Financial Management Professionals Inc. increased its holdings in Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 99 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in Cintas in the 2nd quarter valued at approximately $27,000. Pathway Financial Advisers LLC acquired a new stake in Cintas in the 1st quarter valued at approximately $29,000. Finally, Grove Bank & Trust increased its holdings in Cintas by 1,340.0% in the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 134 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on CTAS shares. Robert W. Baird lifted their target price on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Wells Fargo & Company lifted their target price on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Stifel Nicolaus raised their price target on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research report on Friday, July 19th. Barclays raised their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, The Goldman Sachs Group raised their price target on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Cintas has an average rating of “Hold” and an average price target of $199.63.

Cintas Price Performance

Shares of CTAS opened at $205.62 on Monday. Cintas Co. has a 1-year low of $126.74 and a 1-year high of $215.37. The stock has a market cap of $82.93 billion, a PE ratio of 51.92, a price-to-earnings-growth ratio of 4.05 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The firm has a fifty day moving average price of $217.75 and a 200 day moving average price of $192.01.

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

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

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 paid 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 dividend payout ratio (DPR) is 39.39%.

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.