Advisor Resource Council Makes New $303,000 Investment in Cintas Co. (NASDAQ:CTAS)

Advisor Resource Council acquired a new position in shares of Cintas Co. (NASDAQ:CTAS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,472 shares of the business services provider’s stock, valued at approximately $303,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTAS. LGT Financial Advisors LLC raised its stake 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 purchasing an additional 28 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in Cintas during the second quarter worth $27,000. Pathway Financial Advisers LLC acquired a new stake in Cintas in the first quarter valued at $29,000. Meeder Asset Management Inc. grew its position in shares of Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 34 shares during the period. Finally, Crewe Advisors LLC increased its stake in shares of Cintas by 133.3% during the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after purchasing an additional 32 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Performance

NASDAQ:CTAS opened at $219.52 on Friday. The company has a market cap of $88.53 billion, a price-to-earnings ratio of 55.43, a PEG ratio of 4.09 and a beta of 1.32. Cintas Co. has a fifty-two week low of $131.01 and a fifty-two week high of $219.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The stock has a fifty day moving average price of $218.46 and a 200-day moving average price of $192.79.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS 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 revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.70 earnings per share. As a group, equities analysts anticipate that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas declared that its board has approved a share 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given 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 0.71%. Cintas’s dividend payout ratio is 39.39%.

Analysts Set New Price Targets

CTAS has been the subject of several recent analyst reports. UBS Group raised their target price on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada lifted their target price on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. Wells Fargo & Company increased their price target on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Jefferies Financial Group decreased their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Finally, Stifel Nicolaus raised their target price on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Company 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.