Field & Main Bank Purchases 185 Shares of Cintas Co. (NASDAQ:CTAS)

Field & Main Bank increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 246.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 260 shares of the business services provider’s stock after buying an additional 185 shares during the quarter. Field & Main Bank’s holdings in Cintas were worth $54,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CTAS. Impax Asset Management Group plc grew its position in Cintas by 211.1% during the third quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after buying an additional 1,648,350 shares in the last quarter. Alecta Tjanstepension Omsesidigt grew its position in Cintas by 300.0% during the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after buying an additional 1,222,500 shares in the last quarter. Congress Asset Management Co. grew its position in Cintas by 295.6% during the third quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock worth $161,531,000 after buying an additional 586,271 shares in the last quarter. National Pension Service grew its position in Cintas by 362.8% during the third quarter. National Pension Service now owns 736,193 shares of the business services provider’s stock worth $151,567,000 after buying an additional 577,135 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Cintas by 3,302.1% during the third quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after buying an additional 486,500 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Barclays increased their price target on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Wells Fargo & Company raised their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Redburn Atlantic assumed coverage on Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price on the stock. Finally, Stifel Nicolaus raised their target price on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Trading Up 2.8 %

Shares of CTAS stock opened at $225.72 on Friday. The stock has a market cap of $91.03 billion, a price-to-earnings ratio of 57.00, a PEG ratio of 4.27 and a beta of 1.32. The stock has a 50-day moving average of $219.35 and a 200-day moving average of $193.39. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a 1-year low of $131.24 and a 1-year high of $227.24.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the firm posted $3.70 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. On average, equities research analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.69%. Cintas’s dividend payout ratio is currently 39.39%.

Cintas declared that its Board of Directors has initiated a stock repurchase program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board 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.