Meeder Advisory Services Inc. Increases Position in Cintas Co. (NASDAQ:CTAS)

Meeder Advisory Services Inc. boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 283.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,309 shares of the business services provider's stock after buying an additional 10,575 shares during the period. Meeder Advisory Services Inc.'s holdings in Cintas were worth $2,946,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LGT Financial Advisors LLC grew its position in Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider's stock worth $26,000 after acquiring an additional 28 shares in the last quarter. Financial Management Professionals Inc. boosted its holdings in shares of Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider's stock worth $26,000 after purchasing an additional 99 shares in the last quarter. Hollencrest Capital Management increased its position in shares of Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider's stock valued at $26,000 after purchasing an additional 104 shares during the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Cintas during the 2nd quarter valued at about $27,000. Finally, Addison Advisors LLC lifted its position in Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider's stock worth $28,000 after buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analyst Ratings Changes

CTAS has been the topic of several research reports. The Goldman Sachs Group lifted their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Barclays lifted their target price on shares of Cintas from $210.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, September 27th. Truist Financial upped their price target on shares of Cintas from $212.50 to $225.00 and gave the company a "buy" rating in a research report on Tuesday, September 17th. Robert W. Baird lifted their price objective on Cintas from $194.00 to $209.00 and gave the stock a "neutral" rating in a report on Thursday, September 26th. Finally, UBS Group boosted their target price on Cintas from $219.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Two investment 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $199.63.

Cintas Stock Up 0.5 %

CTAS traded up $1.00 on Monday, hitting $216.20. The company had a trading volume of 1,610,330 shares, compared to its average volume of 1,451,152. The stock has a fifty day simple moving average of $221.49 and a 200-day simple moving average of $195.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The firm has a market capitalization of $87.19 billion, a P/E ratio of 54.34, a P/E/G ratio of 4.24 and a beta of 1.32. Cintas Co. has a 52-week low of $136.50 and a 52-week high of $227.35.

Cintas (NASDAQ:CTAS - Get Free Report) last announced 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 business's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.70 earnings per share. As a group, equities analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas announced that its board 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 reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board believes its shares are undervalued.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 annualized dividend and a dividend yield of 0.72%. Cintas's dividend payout ratio (DPR) is presently 39.39%.

Cintas 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.