Cintas Co. (NASDAQ:CTAS) is Cassady Schiller Wealth Management LLC's 10th Largest Position

Cassady Schiller Wealth Management LLC grew its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 300.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,527 shares of the business services provider's stock after purchasing an additional 18,395 shares during the quarter. Cintas makes up about 1.8% of Cassady Schiller Wealth Management LLC's portfolio, making the stock its 10th biggest holding. Cassady Schiller Wealth Management LLC's holdings in Cintas were worth $5,050,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Impax Asset Management Group plc boosted its holdings in Cintas by 211.1% in the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider's stock valued at $499,236,000 after purchasing an additional 1,648,350 shares during the last quarter. Alecta Tjanstepension Omsesidigt raised its position in shares of Cintas by 300.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider's stock valued at $335,552,000 after buying an additional 1,222,500 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Cintas by 211.6% in the third quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider's stock valued at $234,826,000 after acquiring an additional 774,551 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Cintas by 291.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 889,402 shares of the business services provider's stock worth $183,110,000 after acquiring an additional 662,431 shares during the period. Finally, Congress Asset Management Co. increased its stake in Cintas by 295.6% during the third quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider's stock worth $161,531,000 after acquiring an additional 586,271 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CTAS shares. UBS Group lifted their price objective on Cintas from $219.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Redburn Atlantic began coverage on Cintas in a research note on Friday, August 9th. They issued a "neutral" rating and a $167.50 price objective for the company. Morgan Stanley upped their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 26th. Robert W. Baird lifted their price target 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. Finally, Barclays increased their price objective on shares of Cintas from $210.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Cintas has an average rating of "Hold" and an average price target of $199.63.

Cintas Price Performance

Shares of Cintas stock traded down $1.46 during trading on Friday, reaching $215.20. The company's stock had a trading volume of 1,792,986 shares, compared to its average volume of 1,168,020. The business has a 50 day moving average price of $221.49 and a 200-day moving average price of $195.50. Cintas Co. has a 12-month low of $136.50 and a 12-month high of $227.35. The company has a market capitalization of $86.79 billion, a P/E ratio of 54.34, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 1.53 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 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the business posted $3.70 earnings per share. The firm's revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

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

Cintas announced that its board has initiated a share 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 buy up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

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.