Nicholas Hoffman & Company LLC. Has $570,000 Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Nicholas Hoffman & Company LLC. lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 300.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,769 shares of the business services provider’s stock after purchasing an additional 2,077 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Cintas were worth $570,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CTAS. Brookstone Capital Management acquired a new stake in shares of Cintas during the 1st quarter valued at $233,000. Allspring Global Investments Holdings LLC lifted its holdings in Cintas by 0.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,152 shares of the business services provider’s stock worth $17,280,000 after buying an additional 225 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in Cintas by 18.2% during the 1st quarter. First Trust Direct Indexing L.P. now owns 1,983 shares of the business services provider’s stock worth $1,363,000 after buying an additional 305 shares during the period. ZRC Wealth Management LLC acquired a new position in Cintas during the 1st quarter worth about $45,000. Finally, Van ECK Associates Corp lifted its holdings in Cintas by 6.9% during the 1st quarter. Van ECK Associates Corp now owns 16,431 shares of the business services provider’s stock worth $11,289,000 after buying an additional 1,067 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Down 0.6 %

NASDAQ:CTAS opened at $207.85 on Thursday. The company has a market cap of $21.09 billion, a P/E ratio of 14.35, a P/E/G ratio of 4.12 and a beta of 1.32. The stock’s fifty day moving average price is $217.38 and its two-hundred day moving average price is $191.29. Cintas Co. has a 1 year low of $125.62 and a 1 year high of $215.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping 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 quarter last year, the business posted $3.70 earnings per share. The firm’s revenue was up 6.8% compared to the same quarter last year. As a group, analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas announced that its Board of Directors has initiated a share buyback program on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Analyst Ratings Changes

CTAS has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Redburn Atlantic initiated coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. Jefferies Financial Group cut 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. Morgan Stanley lifted their target price on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Finally, Robert W. Baird lifted their price objective on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Cintas has a consensus rating of “Hold” and a consensus price target 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.