Avestar Capital LLC Increases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Avestar Capital LLC boosted its stake in Cintas Co. (NASDAQ:CTAS) by 317.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,511 shares of the business services provider’s stock after acquiring an additional 1,910 shares during the quarter. Avestar Capital LLC’s holdings in Cintas were worth $517,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. FMR LLC increased its stake in Cintas by 297.3% during the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after buying an additional 6,571,128 shares during the period. Impax Asset Management Group plc increased its holdings in Cintas by 211.1% during the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after purchasing an additional 1,648,350 shares during the last quarter. King Luther Capital Management Corp raised its position in shares of Cintas by 293.2% in the 3rd quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock valued at $392,056,000 after purchasing an additional 1,419,975 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Cintas by 258.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,894,922 shares of the business services provider’s stock valued at $390,127,000 after purchasing an additional 1,365,825 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt boosted its stake in shares of Cintas by 300.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after buying an additional 1,222,500 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Jefferies Financial Group reduced their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. UBS Group boosted their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Redburn Atlantic began coverage on Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective on the stock. Finally, Morgan Stanley boosted their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Price Performance

Shares of CTAS opened at $226.47 on Wednesday. The stock’s fifty day moving average is $211.47 and its 200-day moving average is $198.14. The firm has a market capitalization of $91.34 billion, a price-to-earnings ratio of 57.19, a price-to-earnings-growth ratio of 4.41 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a one year low of $136.87 and a one year high of $228.12.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results 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 prior year, the business posted $3.70 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio is presently 39.39%.

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.