OneDigital Investment Advisors LLC Acquires 4,888 Shares of Cintas Co. (NASDAQ:CTAS)

OneDigital Investment Advisors LLC lifted its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 278.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,646 shares of the business services provider's stock after acquiring an additional 4,888 shares during the period. OneDigital Investment Advisors LLC's holdings in Cintas were worth $1,368,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Oak Harbor Wealth Partners LLC grew its holdings in shares of Cintas by 300.0% during the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 2,548 shares of the business services provider's stock valued at $525,000 after purchasing an additional 1,911 shares during the last quarter. ING Groep NV lifted its position in shares of Cintas by 1,158.6% in the 3rd quarter. ING Groep NV now owns 169,961 shares of the business services provider's stock worth $34,992,000 after purchasing an additional 156,457 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its position in Cintas by 311.0% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,172 shares of the business services provider's stock valued at $2,094,000 after acquiring an additional 7,697 shares during the last quarter. Metis Global Partners LLC boosted its position in shares of Cintas by 315.1% during the 3rd quarter. Metis Global Partners LLC now owns 14,577 shares of the business services provider's stock valued at $3,001,000 after purchasing an additional 11,065 shares in the last quarter. Finally, Curi RMB Capital LLC grew its stake in Cintas by 402.2% during the third quarter. Curi RMB Capital LLC now owns 2,280 shares of the business services provider's stock worth $469,000 after purchasing an additional 1,826 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Stock Performance

Shares of NASDAQ:CTAS traded up $1.77 during mid-day trading on Tuesday, reaching $217.97. The company had a trading volume of 1,231,473 shares, compared to its average volume of 1,450,172. The company's 50-day moving average price is $221.79 and its 200-day moving average price is $196.06. Cintas Co. has a one year low of $136.50 and a one year high of $227.35. The firm has a market cap of $87.91 billion, a price-to-earnings ratio of 54.92, a PEG ratio of 4.24 and a beta of 1.32. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

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 analysts' consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the business earned $3.70 earnings per share. The company's quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities research analysts anticipate that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas declared that its Board of Directors has approved a share buyback program on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be issued a $0.39 dividend. 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 payout ratio is currently 39.39%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 26th. Wells Fargo & Company raised their target price on Cintas from $184.00 to $191.00 and gave the company an "underweight" rating in a research note on Thursday, September 26th. UBS Group upped their price target on Cintas from $219.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Jefferies Financial Group reduced their price objective on Cintas from $730.00 to $200.00 and set a "hold" rating for the company in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group boosted their target price on shares of Cintas from $212.00 to $236.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price 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.