Bank of Montreal Can Has $110.22 Million Position in Cintas Co. (NASDAQ:CTAS)

Bank of Montreal Can boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 288.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 544,680 shares of the business services provider’s stock after buying an additional 404,332 shares during the period. Bank of Montreal Can’s holdings in Cintas were worth $110,216,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Atria Investments Inc lifted its position in Cintas by 291.7% in the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock valued at $4,595,000 after acquiring an additional 16,623 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cintas by 343.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock valued at $22,976,000 after purchasing an additional 86,460 shares in the last quarter. Creative Planning boosted its position in shares of Cintas by 34.4% during the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock valued at $13,551,000 after buying an additional 4,957 shares during the last quarter. Western Financial Corp CA grew its holdings in Cintas by 628.2% during the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock worth $2,429,000 after buying an additional 10,177 shares in the last quarter. Finally, Portside Wealth Group LLC raised its position in Cintas by 361.9% in the 3rd quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock valued at $287,000 after buying an additional 1,093 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Up 1.1 %

CTAS opened at $226.47 on Wednesday. Cintas Co. has a 12 month low of $136.87 and a 12 month high of $228.12. The company has a market cap of $91.34 billion, a PE ratio of 57.19, a price-to-earnings-growth ratio of 4.37 and a beta of 1.32. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average of $211.47 and a 200 day moving average of $198.14.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the company posted $3.70 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, sell-side analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

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 given a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CTAS. Jefferies Financial Group reduced their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Wells Fargo & Company upped their price objective on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Truist Financial increased their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Morgan Stanley boosted their target price on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada increased their price target on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $199.63.

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.