Kraft Davis & Associates LLC Has $695,000 Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Kraft Davis & Associates LLC boosted its position in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,368 shares of the business services provider’s stock after purchasing an additional 2,526 shares during the quarter. Kraft Davis & Associates LLC’s holdings in Cintas were worth $695,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CTAS. Checchi Capital Advisers LLC raised its position in shares of Cintas by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock valued at $1,156,000 after acquiring an additional 14 shares during the last quarter. Axxcess Wealth Management LLC boosted its stake in Cintas by 0.5% during the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after acquiring an additional 14 shares during the last quarter. Field & Main Bank boosted its stake in Cintas by 25.0% during the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after acquiring an additional 15 shares during the last quarter. Drive Wealth Management LLC grew its holdings in Cintas by 3.7% during the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after purchasing an additional 16 shares during the period. Finally, TIAA Trust National Association raised its holdings in Cintas by 1.2% in the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after purchasing an additional 16 shares during the period. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on CTAS shares. Morgan Stanley raised their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Robert W. Baird boosted their price target on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Wells Fargo & Company boosted their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Barclays lifted their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Finally, Redburn Atlantic started coverage on Cintas in a report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Cintas currently has an average rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Performance

CTAS opened at $217.97 on Wednesday. The firm has a market cap of $87.91 billion, a P/E ratio of 55.04, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32. The business’s fifty day moving average is $222.07 and its 200-day moving average is $196.41. Cintas Co. has a 52-week low of $136.50 and a 52-week high of $227.35. 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 (NASDAQ:CTAS) last issued its 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. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.70 EPS. Sell-side analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

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 dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. Cintas’s dividend payout ratio is currently 39.39%.

Cintas declared that its Board of Directors has approved a stock buyback program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.