EULAV Asset Management Has $125.73 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

EULAV Asset Management increased its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 267.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 610,689 shares of the business services provider's stock after purchasing an additional 444,515 shares during the quarter. Cintas accounts for approximately 3.1% of EULAV Asset Management's investment portfolio, making the stock its 3rd largest position. EULAV Asset Management owned 0.15% of Cintas worth $125,729,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CTAS. UBS Group upped 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. The Goldman Sachs Group upped their price target on Cintas from $212.00 to $236.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Royal Bank of Canada raised their price objective 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. Barclays increased their price objective on Cintas from $210.00 to $245.00 and gave the stock an "overweight" rating in a research note on Friday, September 27th. Finally, Robert W. Baird lifted their target price on Cintas from $194.00 to $209.00 and gave the company a "neutral" rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Cintas currently has a consensus rating of "Hold" and an average price target of $199.63.

Cintas Stock Performance

CTAS traded up $0.78 during trading hours on Wednesday, hitting $218.75. The stock had a trading volume of 1,016,020 shares, compared to its average volume of 1,448,242. The stock has a market cap of $88.22 billion, a PE ratio of 55.04, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32. Cintas Co. has a 1 year low of $136.87 and a 1 year high of $227.35. 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 company's fifty day simple moving average is $222.07 and its 200 day simple moving average is $196.41.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly 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. 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 analysts' expectations of $2.49 billion. During the same period in the prior year, the company posted $3.70 EPS. Cintas's revenue was up 6.8% compared to the same quarter last year. Equities analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.71%. Cintas's dividend payout ratio is currently 39.39%.

Cintas announced that its Board of Directors has initiated a share repurchase program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is 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.