MAI Capital Management Purchases 5,575 Shares of Cintas Co. (NASDAQ:CTAS)

MAI Capital Management boosted its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 173.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,789 shares of the business services provider's stock after purchasing an additional 5,575 shares during the quarter. MAI Capital Management's holdings in Cintas were worth $1,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Checchi Capital Advisers LLC raised its position in Cintas by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider's stock worth $1,156,000 after purchasing an additional 14 shares during the period. Axxcess Wealth Management LLC grew its position in shares of Cintas by 0.5% in the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider's stock worth $2,034,000 after buying an additional 14 shares during the last quarter. Field & Main Bank raised its holdings in Cintas by 25.0% in the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider's stock worth $53,000 after purchasing an additional 15 shares in the last quarter. Drive Wealth Management LLC grew its holdings in shares of Cintas by 3.7% during the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider's stock worth $314,000 after acquiring an additional 16 shares during the period. Finally, TIAA Trust National Association grew its position in shares of Cintas by 1.2% in the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider's stock worth $954,000 after buying an additional 16 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Cintas Price Performance

CTAS traded up $1.10 on Thursday, hitting $219.85. 147,095 shares of the company's stock traded hands, compared to its average volume of 1,442,486. Cintas Co. has a one year low of $136.87 and a one year high of $227.35. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market cap of $88.67 billion, a price-to-earnings ratio of 55.24, a P/E/G ratio of 4.29 and a beta of 1.32. The company's 50 day simple moving average is $210.05 and its 200-day simple moving average is $196.56.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion for 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%. Cintas's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.70 EPS. As a group, research analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

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 given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. Cintas's dividend payout ratio is currently 39.39%.

Analysts Set New Price Targets

CTAS has been the topic of a number of recent research reports. Jefferies Financial Group cut their price objective on shares of Cintas from $730.00 to $200.00 and set a "hold" rating on the stock in a report on Thursday, September 26th. Wells Fargo & Company upped their price target on Cintas from $184.00 to $191.00 and gave the company an "underweight" rating in a report on Thursday, September 26th. Redburn Atlantic began coverage on Cintas in a report on Friday, August 9th. They issued a "neutral" rating and a $167.50 price objective for the company. Morgan Stanley boosted their price objective on shares of Cintas from $170.00 to $185.00 and gave the company an "equal weight" rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada raised their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a "sector perform" rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $199.63.

Cintas Company Profile

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.