Woodmont Investment Counsel LLC Acquires 5,916 Shares of Cintas Co. (NASDAQ:CTAS)

Woodmont Investment Counsel LLC lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,888 shares of the business services provider’s stock after purchasing an additional 5,916 shares during the period. Woodmont Investment Counsel LLC’s holdings in Cintas were worth $1,624,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. LGT Financial Advisors LLC lifted its position in shares of Cintas by 311.1% in the 2nd 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. Financial Management Professionals Inc. grew its holdings in shares of Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 99 shares during the period. Atwood & Palmer Inc. purchased a new position in shares of Cintas in the 2nd quarter valued at approximately $27,000. Pathway Financial Advisers LLC bought a new position in Cintas in the first quarter worth $29,000. Finally, Grove Bank & Trust lifted its position in Cintas by 1,340.0% during the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 134 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Jefferies Financial Group dropped their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Royal Bank of Canada lifted their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Barclays increased their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, Morgan Stanley raised their price target on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Trading Up 3.8 %

Cintas stock opened at $217.02 on Thursday. Cintas Co. has a 52-week low of $129.15 and a 52-week high of $217.51. The company has a market cap of $87.52 billion, a P/E ratio of 54.80, a P/E/G ratio of 4.05 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The business has a 50-day simple moving average of $218.46 and a two-hundred day simple moving average of $192.79.

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 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 posted $3.70 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued 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 0.72%. Cintas’s dividend payout ratio is currently 39.39%.

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