KBC Group NV Boosts Holdings in Cintas Co. (NASDAQ:CTAS)

KBC Group NV lifted its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 312.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,264 shares of the business services provider's stock after acquiring an additional 48,670 shares during the period. KBC Group NV's holdings in Cintas were worth $13,230,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CTAS. Huntington National Bank boosted its holdings in Cintas by 301.7% in the third quarter. Huntington National Bank now owns 11,416 shares of the business services provider's stock valued at $2,350,000 after acquiring an additional 8,574 shares during the last quarter. Plato Investment Management Ltd increased its position in Cintas by 326.1% during the 3rd quarter. Plato Investment Management Ltd now owns 9,024 shares of the business services provider's stock worth $1,856,000 after purchasing an additional 6,906 shares in the last quarter. D Orazio & Associates Inc. raised its holdings in Cintas by 305.2% in the third quarter. D Orazio & Associates Inc. now owns 2,253 shares of the business services provider's stock valued at $464,000 after buying an additional 1,697 shares during the period. ICICI Prudential Asset Management Co Ltd lifted its position in Cintas by 372.3% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 5,261 shares of the business services provider's stock valued at $1,083,000 after buying an additional 4,147 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in Cintas by 242.1% during the third quarter. Oppenheimer & Co. Inc. now owns 16,137 shares of the business services provider's stock worth $3,322,000 after buying an additional 11,420 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Stock Down 0.7 %

Shares of CTAS 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. Cintas Co. has a one year low of $136.50 and a one year high of $227.35. The company has a market cap of $86.79 billion, a price-to-earnings ratio of 54.34, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32. The business has a fifty day moving average price of $221.49 and a 200-day moving average price of $195.50. 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 released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.70 EPS. Analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas declared that its Board of Directors has approved a share 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 repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. 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 dividend payout ratio (DPR) is presently 39.39%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Truist Financial lifted their target price on shares of Cintas from $212.50 to $225.00 and gave the company a "buy" rating in a report on Tuesday, September 17th. Morgan Stanley upped their target price on 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 raised 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. Jefferies Financial Group decreased their price target on Cintas from $730.00 to $200.00 and set a "hold" rating for the company in a report on Thursday, September 26th. Finally, Royal Bank of Canada increased their price target on Cintas from $181.00 to $215.00 and gave the company a "sector perform" rating in a 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.