Comgest Global Investors S.A.S. Buys 106,613 Shares of Cintas Co. (NASDAQ:CTAS)

Comgest Global Investors S.A.S. raised its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 279.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 144,789 shares of the business services provider's stock after purchasing an additional 106,613 shares during the quarter. Comgest Global Investors S.A.S.'s holdings in Cintas were worth $29,809,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Atria Investments Inc raised its holdings in shares of Cintas by 291.7% during the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider's stock valued at $4,595,000 after purchasing an additional 16,623 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cintas by 343.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider's stock valued at $22,976,000 after buying an additional 86,460 shares during the period. Creative Planning boosted its stake in shares of Cintas by 34.4% in the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider's stock worth $13,551,000 after buying an additional 4,957 shares during the last quarter. Western Financial Corp CA grew its holdings in shares of Cintas by 628.2% in the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider's stock worth $2,429,000 after acquiring an additional 10,177 shares during the period. Finally, Portside Wealth Group LLC increased its position in Cintas by 361.9% during the third quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider's stock valued at $287,000 after acquiring an additional 1,093 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several research reports. Wells Fargo & Company raised their target price on Cintas from $184.00 to $191.00 and gave the stock an "underweight" rating in a research report on Thursday, September 26th. Redburn Atlantic assumed coverage on shares of Cintas in a research report on Friday, August 9th. They issued a "neutral" rating and a $167.50 price target on the stock. Royal Bank of Canada increased their price target on shares of Cintas from $181.00 to $215.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 26th. UBS Group increased their price target 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, Baird R W downgraded shares of Cintas from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 19th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $199.63.

Cintas Price Performance

Shares of NASDAQ CTAS traded down $1.46 during midday trading on Friday, reaching $215.20. 1,792,986 shares of the stock traded hands, compared to its average volume of 1,450,435. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The stock has a market capitalization of $86.79 billion, a PE ratio of 54.34, a P/E/G ratio of 4.40 and a beta of 1.32. Cintas Co. has a one year low of $136.50 and a one year high of $227.35. The company's 50 day moving average is $221.49 and its 200 day moving average is $195.28.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.70 EPS. On average, equities research analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.72%. Cintas's dividend payout ratio is presently 39.39%.

Cintas announced that its Board of Directors has initiated 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership 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.