King Luther Capital Management Corp Buys 1,419,975 Shares of Cintas Co. (NASDAQ:CTAS)

King Luther Capital Management Corp raised its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 293.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,904,296 shares of the business services provider's stock after purchasing an additional 1,419,975 shares during the period. Cintas accounts for 1.7% of King Luther Capital Management Corp's holdings, making the stock its 13th biggest holding. King Luther Capital Management Corp owned 0.47% of Cintas worth $392,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CTAS. Checchi Capital Advisers LLC boosted its stake in Cintas by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider's stock valued at $1,156,000 after acquiring an additional 14 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in Cintas by 0.5% in the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider's stock valued at $2,034,000 after purchasing an additional 14 shares during the last quarter. Field & Main Bank grew its holdings in Cintas by 25.0% during the second quarter. Field & Main Bank now owns 75 shares of the business services provider's stock valued at $53,000 after purchasing an additional 15 shares during the period. Drive Wealth Management LLC raised its stake in shares of Cintas by 3.7% in the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider's stock valued at $314,000 after buying an additional 16 shares during the period. Finally, TIAA Trust National Association lifted its position in shares of Cintas by 1.2% during the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider's stock valued at $954,000 after buying an additional 16 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Price Performance

Shares of CTAS opened at $218.75 on Thursday. The firm's 50-day simple moving average is $210.05 and its two-hundred day simple moving average is $196.56. Cintas Co. has a fifty-two week low of $136.87 and a fifty-two week high of $227.35. The stock has a market cap of $88.22 billion, a PE ratio of 55.24, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32. 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 (NASDAQ:CTAS - Get Free Report) last released its 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. The firm had revenue of $2.50 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the firm posted $3.70 earnings per share. Analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CTAS shares. UBS Group increased their target price 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. Robert W. Baird increased their target price on Cintas from $194.00 to $209.00 and gave the stock a "neutral" rating in a research report on Thursday, September 26th. Jefferies Financial Group decreased their price objective on Cintas from $730.00 to $200.00 and set a "hold" rating on the stock in a research note on Thursday, September 26th. The Goldman Sachs Group upped their price target on Cintas from $212.00 to $236.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Finally, Truist Financial lifted their price objective on Cintas from $212.50 to $225.00 and gave the company a "buy" rating in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Cintas presently has an average rating of "Hold" and an average 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.

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