Kraft Davis & Associates LLC Grows Holdings in Cintas Co. (NASDAQ:CTAS)

Kraft Davis & Associates LLC lifted its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 300.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,368 shares of the business services provider's stock after purchasing an additional 2,526 shares during the quarter. Kraft Davis & Associates LLC's holdings in Cintas were worth $695,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Atria Investments Inc boosted its stake in shares of 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 buying an additional 16,623 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of 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 purchasing an additional 86,460 shares in the last quarter. Creative Planning grew its stake in shares of Cintas by 34.4% during the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider's stock worth $13,551,000 after purchasing an additional 4,957 shares during the period. Western Financial Corp CA increased its holdings in shares of Cintas by 628.2% in the 3rd quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider's stock valued at $2,429,000 after purchasing an additional 10,177 shares in the last quarter. Finally, Portside Wealth Group LLC lifted its stake in shares of Cintas by 361.9% in the third quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider's stock valued at $287,000 after purchasing an additional 1,093 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group reduced their price target 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. Robert W. Baird lifted their target price on shares of Cintas from $194.00 to $209.00 and gave the stock a "neutral" rating in a research report on Thursday, September 26th. Barclays increased their price target on shares of Cintas from $210.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, September 27th. Wells Fargo & Company lifted their price objective on Cintas from $184.00 to $191.00 and gave the stock an "underweight" rating in a research report on Thursday, September 26th. Finally, Redburn Atlantic assumed coverage on Cintas in a report on Friday, August 9th. They set a "neutral" rating and a $167.50 target price on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $199.63.

Cintas Trading Up 0.4 %

CTAS stock traded up $0.78 on Wednesday, hitting $218.75. 1,016,020 shares of the company were exchanged, compared to its average volume of 1,448,242. The stock has a market capitalization of $88.22 billion, a price-to-earnings ratio of 55.24, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32. The business's fifty day moving average is $210.05 and its two-hundred day moving average is $196.56. Cintas Co. has a twelve month low of $136.87 and a twelve month high of $227.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping 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 business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the company posted $3.70 EPS. The business's quarterly revenue was up 6.8% on a year-over-year basis. As a group, research analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its board has initiated a stock repurchase program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Cintas Dividend Announcement

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 issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, November 15th. Cintas's payout ratio is currently 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.