Cintas Co. (NASDAQ:CTAS) Shares Purchased by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. boosted its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 243.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,828 shares of the business services provider's stock after purchasing an additional 3,421 shares during the period. Braun Stacey Associates Inc.'s holdings in Cintas were worth $994,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. LGT Financial Advisors LLC raised its stake in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider's stock worth $26,000 after purchasing an additional 28 shares during the last quarter. Atwood & Palmer Inc. purchased a new position in Cintas during the 2nd quarter worth approximately $27,000. Pathway Financial Advisers LLC acquired a new stake in Cintas during the 1st quarter valued at approximately $29,000. Meeder Asset Management Inc. boosted its holdings in shares of Cintas by 226.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider's stock valued at $34,000 after acquiring an additional 34 shares during the last quarter. Finally, Crewe Advisors LLC increased its stake 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 worth $39,000 after acquiring an additional 32 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Price Performance

Shares of CTAS traded up $1.10 during mid-day trading on Monday, hitting $216.30. The company's stock had a trading volume of 436,257 shares, compared to its average volume of 1,445,887. The firm has a 50-day simple moving average of $221.49 and a 200 day simple moving average of $195.70. Cintas Co. has a 1-year low of $136.50 and a 1-year high of $227.35. The firm has a market capitalization of $87.23 billion, a P/E ratio of 54.34, 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 (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business's revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.70 EPS. Analysts predict that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

The company 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. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Friday, November 15th. Cintas's dividend payout ratio is currently 39.39%.

Cintas announced that its Board of Directors has approved a share 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 repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CTAS. Wells Fargo & Company lifted their price target on Cintas from $184.00 to $191.00 and gave the company an "underweight" rating in a research report on Thursday, September 26th. Truist Financial boosted their price objective on Cintas from $212.50 to $225.00 and gave the company a "buy" rating in a research report on Tuesday, September 17th. Royal Bank of Canada lifted their price target on shares of Cintas from $181.00 to $215.00 and gave the company a "sector perform" rating in a research note on Thursday, September 26th. UBS Group upped their price objective on shares of Cintas from $219.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Finally, Jefferies Financial Group dropped their target price on shares of Cintas from $730.00 to $200.00 and set a "hold" rating on the stock in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Cintas currently has an average rating of "Hold" and a consensus price target of $199.63.

Cintas 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.