Cintas Co. (NASDAQ:CTAS) Shares Acquired by Paragon Advisors LLC

Paragon Advisors LLC grew its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 293.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,509 shares of the business services provider's stock after purchasing an additional 9,330 shares during the period. Paragon Advisors LLC's holdings in Cintas were worth $2,575,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of CTAS. LGT Financial Advisors LLC raised its holdings in shares of Cintas by 311.1% in the 2nd 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. purchased a new position in Cintas in the 2nd quarter valued at approximately $27,000. Pathway Financial Advisers LLC purchased a new stake in shares of Cintas during the first quarter worth $29,000. Meeder Asset Management Inc. grew its stake in Cintas by 226.7% during the 2nd 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 in the last quarter. Finally, Crewe Advisors LLC increased its holdings in Cintas by 133.3% during the 2nd quarter. Crewe Advisors LLC now owns 56 shares of the business services provider's stock worth $39,000 after purchasing an additional 32 shares during the period. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Stock Performance

NASDAQ:CTAS traded down $1.46 during midday trading on Friday, reaching $215.20. The stock had a trading volume of 1,792,986 shares, compared to its average volume of 1,450,435. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The stock has a market cap of $86.79 billion, a P/E ratio of 54.34, a P/E/G ratio of 4.40 and a beta of 1.32. The firm has a fifty day simple moving average of $221.49 and a two-hundred day simple moving average of $195.28. Cintas Co. has a 12-month low of $136.50 and a 12-month high of $227.35.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. The firm 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 firm's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.70 earnings per share. On average, equities analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its Board of Directors has initiated a share buyback plan 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 yield of 0.72%. The ex-dividend date of this dividend is Friday, November 15th. Cintas's dividend payout ratio (DPR) is currently 39.39%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CTAS shares. Robert W. Baird upped their target price 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. Morgan Stanley lifted 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 increased their target price on Cintas from $219.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Royal Bank of Canada lifted their price target on Cintas from $181.00 to $215.00 and gave the stock a "sector perform" rating in a report on Thursday, September 26th. Finally, Stifel Nicolaus raised their target price on Cintas from $166.75 to $199.50 and gave the stock a "hold" rating in a research report on Friday, July 19th. Two equities research 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's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price 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.