Zacks Investment Management Has $43.86 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Zacks Investment Management boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 330.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 213,049 shares of the business services provider’s stock after acquiring an additional 163,576 shares during the period. Zacks Investment Management’s holdings in Cintas were worth $43,863,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Checchi Capital Advisers LLC lifted its holdings in shares of Cintas by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after buying an additional 14 shares in the last quarter. Axxcess Wealth Management LLC increased its position in Cintas by 0.5% during the second 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 period. Field & Main Bank raised its stake in Cintas by 25.0% in the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after purchasing an additional 15 shares in the last quarter. Drive Wealth Management LLC boosted its holdings in Cintas by 3.7% in the 2nd 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 grew its position in shares of Cintas by 1.2% during the 2nd 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 in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Up 0.2 %

Shares of NASDAQ CTAS opened at $223.71 on Friday. Cintas Co. has a 52-week low of $136.87 and a 52-week high of $228.12. 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 company’s 50 day moving average price is $214.14 and its 200-day moving average price is $200.27. The company has a market capitalization of $90.22 billion, a P/E ratio of 56.49, a price-to-earnings-growth ratio of 4.40 and a beta of 1.33.

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

Cintas Announces Dividend

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 issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. Cintas’s dividend payout ratio is currently 39.39%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Jefferies Financial Group cut their price target on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. The Goldman Sachs Group boosted their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Barclays raised their price objective on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Royal Bank of Canada boosted their target price on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 26th. Finally, Redburn Atlantic began coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.