Logan Capital Management Inc. Has $29.11 Million Holdings in Cintas Co. (NASDAQ:CTAS)

Logan Capital Management Inc. boosted its position in shares of Cintas Co. (NASDAQ:CTAS) by 294.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,381 shares of the business services provider’s stock after buying an additional 105,574 shares during the period. Cintas makes up approximately 1.2% of Logan Capital Management Inc.’s investment portfolio, making the stock its 15th largest position. Logan Capital Management Inc.’s holdings in Cintas were worth $29,107,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Retirement Systems of Alabama raised its holdings in shares of Cintas by 292.2% during the 3rd quarter. Retirement Systems of Alabama now owns 74,603 shares of the business services provider’s stock worth $15,359,000 after buying an additional 55,580 shares in the last quarter. American Trust raised its stake in Cintas by 284.4% during the third quarter. American Trust now owns 31,277 shares of the business services provider’s stock worth $6,439,000 after acquiring an additional 23,140 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after acquiring an additional 2,379,932 shares during the last quarter. Asset Advisors Investment Management LLC grew its holdings in shares of Cintas by 298.3% during the 3rd quarter. Asset Advisors Investment Management LLC now owns 173,748 shares of the business services provider’s stock valued at $35,771,000 after purchasing an additional 130,130 shares during the last quarter. Finally, Peapack Gladstone Financial Corp increased its position in Cintas by 297.2% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 3,932 shares of the business services provider’s stock worth $810,000 after purchasing an additional 2,942 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Trading Down 0.1 %

CTAS stock traded down $0.31 during midday trading on Friday, hitting $211.28. The stock had a trading volume of 76,848 shares, compared to its average volume of 1,456,081. 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 firm has a market cap of $85.21 billion, a P/E ratio of 53.43, a price-to-earnings-growth ratio of 4.15 and a beta of 1.33. The business has a fifty day moving average price of $215.00 and a two-hundred day moving average price of $201.62. Cintas Co. has a 1-year low of $138.39 and a 1-year high of $228.12.

Cintas (NASDAQ:CTAS) last announced 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 the consensus estimate of $2.49 billion. During the same period in the previous year, the business earned $3.70 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business 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 dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is 39.39%.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of research reports. Barclays boosted their target price on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Jefferies Financial Group cut their price target on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Morgan Stanley boosted their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday. Robert W. Baird raised their price objective on shares of Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Finally, Truist Financial boosted their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Cintas presently has an average rating of “Hold” and a consensus target price of $200.77.

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.