Mutual of America Capital Management LLC Buys 31,319 Shares of Cintas Co. (NASDAQ:CTAS)

Mutual of America Capital Management LLC grew its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 287.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,198 shares of the business services provider's stock after purchasing an additional 31,319 shares during the period. Mutual of America Capital Management LLC's holdings in Cintas were worth $8,688,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTAS. LGT Financial Advisors LLC grew its position in Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider's stock worth $26,000 after purchasing an additional 28 shares in the last quarter. Financial Management Professionals Inc. boosted its holdings in Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider's stock valued at $26,000 after purchasing an additional 99 shares during the period. Hollencrest Capital Management raised its holdings in shares of Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider's stock valued at $26,000 after acquiring an additional 104 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in Cintas during the second quarter valued at approximately $27,000. Finally, Addison Advisors LLC grew its stake 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 in the last quarter. Institutional investors own 63.46% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an "overweight" rating in a report on Friday, September 27th. Redburn Atlantic began coverage on shares of Cintas in a report on Friday, August 9th. They issued a "neutral" rating and a $167.50 price objective for the company. 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 report on Tuesday, September 17th. Morgan Stanley upped their price target 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 boosted their price target on Cintas from $181.00 to $215.00 and gave the company a "sector perform" rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Cintas presently has a consensus rating of "Hold" and a consensus target price of $199.63.

Cintas Stock Up 1.0 %

CTAS stock traded up $2.07 on Tuesday, reaching $218.27. 400,698 shares of the company traded hands, compared to its average volume of 1,446,463. 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 fifty day simple moving average of $221.79 and a 200-day simple moving average of $196.06. Cintas Co. has a one year low of $136.50 and a one year high of $227.35. The company has a market cap of $88.03 billion, a P/E ratio of 54.92, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32.

Cintas (NASDAQ:CTAS - Get Free Report) last announced 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. 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% on a year-over-year basis. During the same period in the prior year, the firm posted $3.70 EPS. Research analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The company also recently declared 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. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, November 15th. Cintas's dividend payout ratio (DPR) is currently 39.39%.

Cintas announced that its Board of Directors has authorized a stock buyback 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 shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

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.