Jacobson & Schmitt Advisors LLC Boosts Holdings in Cintas Co. (NASDAQ:CTAS)

Jacobson & Schmitt Advisors LLC raised its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,592 shares of the business services provider’s stock after acquiring an additional 1,944 shares during the quarter. Jacobson & Schmitt Advisors LLC’s holdings in Cintas were worth $534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CTAS. Alecta Tjanstepension Omsesidigt increased its holdings in 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 acquiring an additional 1,222,500 shares in the last quarter. Congress Asset Management Co. increased its holdings in Cintas by 295.6% during the 3rd quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider’s stock valued at $161,531,000 after acquiring an additional 586,271 shares in the last quarter. SG Americas Securities LLC increased its holdings in Cintas by 3,302.1% during the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock valued at $103,194,000 after acquiring an additional 486,500 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Cintas by 300.0% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 510,832 shares of the business services provider’s stock valued at $105,170,000 after acquiring an additional 383,124 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in Cintas by 305.4% during the 3rd quarter. Raymond James & Associates now owns 484,068 shares of the business services provider’s stock valued at $99,660,000 after acquiring an additional 364,659 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Trading Down 1.0 %

NASDAQ CTAS opened at $205.81 on Friday. Cintas Co. has a one year low of $125.62 and a one year high of $215.37. The company’s 50 day moving average price is $217.58 and its 200 day moving average price is $191.39. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The firm has a market capitalization of $83.00 billion, a price-to-earnings ratio of 51.97, a PEG ratio of 4.09 and a beta of 1.32.

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

Cintas declared that its board has approved a stock buyback plan 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 plans are typically a sign that the company’s board believes its stock is undervalued.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s payout ratio is 39.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CTAS shares. Stifel Nicolaus raised their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Robert W. Baird raised their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Royal Bank of Canada raised their price target on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. Baird R W cut shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Wells Fargo & Company raised their price target on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Cintas has an average rating of “Hold” and an average target price 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.