Baron Wealth Management LLC Makes New Investment in Cintas Co. (NASDAQ:CTAS)

Baron Wealth Management LLC bought a new stake in Cintas Co. (NASDAQ:CTAS - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,736 shares of the business services provider's stock, valued at approximately $563,000.

A number of other institutional investors have also added to or reduced their stakes in the company. LGT Financial Advisors LLC raised its stake in Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider's stock valued at $26,000 after buying an additional 28 shares during the period. Atwood & Palmer Inc. acquired a new stake in Cintas during the 2nd quarter valued at $27,000. Pathway Financial Advisers LLC acquired a new stake in Cintas during the 1st quarter valued at $29,000. Meeder Asset Management Inc. boosted its position in Cintas by 226.7% during the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider's stock worth $34,000 after purchasing an additional 34 shares during the period. Finally, Crewe Advisors LLC increased its holdings in shares of Cintas by 133.3% in the second quarter. Crewe Advisors LLC now owns 56 shares of the business services provider's stock valued at $39,000 after purchasing an additional 32 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CTAS. Barclays raised 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. Morgan Stanley raised their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 26th. UBS Group upped their target price on Cintas from $219.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Redburn Atlantic assumed coverage on Cintas in a research note on Friday, August 9th. They set a "neutral" rating and a $167.50 target price on the stock. Finally, Robert W. Baird boosted their price target on Cintas from $194.00 to $209.00 and gave the company a "neutral" rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $199.63.

Cintas Price Performance

CTAS stock traded up $1.77 during mid-day trading on Tuesday, hitting $217.97. The stock had a trading volume of 1,231,473 shares, compared to its average volume of 1,450,172. The firm has a fifty day simple moving average of $221.79 and a 200 day simple moving average of $196.06. The firm has a market capitalization of $87.91 billion, a P/E ratio of 54.92, a P/E/G ratio of 4.24 and a beta of 1.32. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a 52 week low of $136.50 and a 52 week high of $227.35.

Cintas (NASDAQ:CTAS - Get Free Report) 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 net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same period last year, the firm posted $3.70 earnings per share. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. As a group, research analysts forecast that Cintas Co. will post 4.23 EPS for the current 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 paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Friday, November 15th. Cintas's dividend payout ratio (DPR) is presently 39.39%.

Cintas declared that its board has approved a share repurchase program on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

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.