Cintas Co. (NASDAQ:CTAS) Shares Acquired by KCM Investment Advisors LLC

KCM Investment Advisors LLC increased its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 301.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 34,632 shares of the business services provider's stock after acquiring an additional 26,016 shares during the period. KCM Investment Advisors LLC's holdings in Cintas were worth $7,130,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in 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 worth $22,976,000 after buying an additional 86,460 shares during the period. Atria Investments Inc increased its holdings in Cintas by 291.7% during the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider's stock worth $4,595,000 after purchasing an additional 16,623 shares during the last quarter. Creative Planning raised its holdings in Cintas by 34.4% in 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 in the last quarter. Western Financial Corp CA increased its holdings in Cintas by 628.2% in the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider's stock valued at $2,429,000 after buying an additional 10,177 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its position in shares of Cintas by 361.9% in 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 last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Stock Down 0.7 %

Shares of NASDAQ:CTAS traded down $1.46 during trading on Friday, hitting $215.20. The stock had a trading volume of 1,792,946 shares, compared to its average volume of 1,450,435. 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 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 PE ratio of 54.33, a PEG ratio of 4.40 and a beta of 1.32. The firm's fifty day moving average is $221.09 and its 200 day moving average is $194.94.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.49 billion. During the same period last year, the firm posted $3.70 earnings per share. Cintas's revenue was up 6.8% compared to the same quarter last year. Analysts anticipate that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas announced that its Board of Directors has authorized a stock buyback program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Cintas Dividend Announcement

The company also recently disclosed 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. This represents a $1.56 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Friday, November 15th. Cintas's payout ratio is 39.39%.

Wall Street Analyst Weigh In

CTAS has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective 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. Stifel Nicolaus lifted their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a "hold" rating in a research report on Friday, July 19th. Royal Bank of Canada boosted their target price on Cintas from $181.00 to $215.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 26th. Barclays lifted their price target 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 note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Cintas 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.