GLOBALT Investments LLC GA Grows Stock Holdings in Cintas Co. (NASDAQ:CTAS)

GLOBALT Investments LLC GA increased its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 277.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,154 shares of the business services provider's stock after acquiring an additional 25,094 shares during the period. GLOBALT Investments LLC GA's holdings in Cintas were worth $7,032,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. LGT Financial Advisors LLC grew its holdings in Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider's stock valued at $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. bought a new stake in Cintas in the 2nd quarter valued at about $27,000. Pathway Financial Advisers LLC purchased a new stake in Cintas during the first quarter valued at about $29,000. Meeder Asset Management Inc. lifted its stake in shares of Cintas by 226.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider's stock valued at $34,000 after buying an additional 34 shares in the last quarter. Finally, Crewe Advisors LLC boosted its holdings 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. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CTAS. Jefferies Financial Group cut their price objective on shares of Cintas from $730.00 to $200.00 and set a "hold" rating for the company in a research report on Thursday, September 26th. UBS Group upped their target price on Cintas from $219.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Barclays raised their price target on Cintas from $210.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, September 27th. Royal Bank of Canada boosted their price objective on Cintas from $181.00 to $215.00 and gave the stock a "sector perform" rating in a report on Thursday, September 26th. Finally, Wells Fargo & Company lifted their target price on shares of Cintas from $184.00 to $191.00 and gave the company an "underweight" rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $199.63.

Cintas Trading Up 0.6 %

NASDAQ:CTAS traded up $1.20 during midday trading on Monday, reaching $216.40. 393,835 shares of the stock traded hands, compared to its average volume of 1,445,646. The stock has a market capitalization of $87.27 billion, a P/E ratio of 54.34, a PEG ratio of 4.24 and a beta of 1.32. The company has a fifty day moving average of $221.49 and a 200 day moving average of $195.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. 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 announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the firm posted $3.70 earnings per share. The firm's revenue was up 6.8% on a year-over-year basis. On average, research analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its Board of Directors has approved a stock repurchase plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its stock is undervalued.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid 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 payout ratio is presently 39.39%.

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.