Oppenheimer & Co. Inc. Acquires 11,420 Shares of Cintas Co. (NASDAQ:CTAS)

Oppenheimer & Co. Inc. boosted its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 242.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,137 shares of the business services provider's stock after buying an additional 11,420 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Cintas were worth $3,322,000 at the end of the most recent quarter.

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

Cintas Trading Down 0.7 %

Shares of CTAS traded down $1.46 during trading hours on Friday, reaching $215.20. The stock had a trading volume of 1,792,986 shares, compared to its average volume of 1,450,435. The company has a market cap of $86.79 billion, a P/E ratio of 54.34, a P/E/G ratio of 4.40 and a beta of 1.32. Cintas Co. has a 52 week low of $136.50 and a 52 week high of $227.35. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average of $221.49 and a 200 day moving average of $195.28.

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, 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 company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the company earned $3.70 earnings per share. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. On average, sell-side analysts expect that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business 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. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Friday, November 15th. Cintas's dividend payout ratio (DPR) is presently 39.39%.

Cintas announced that its Board of Directors has approved a share repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of Cintas from $170.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 26th. Redburn Atlantic assumed coverage on shares of Cintas in a research report on Friday, August 9th. They issued a "neutral" rating and a $167.50 price objective for the company. Royal Bank of Canada increased their price objective on Cintas from $181.00 to $215.00 and gave the company a "sector perform" rating in a research report on Thursday, September 26th. Truist Financial upped their price target on Cintas from $212.50 to $225.00 and gave the company a "buy" rating in a research note on Tuesday, September 17th. Finally, Jefferies Financial Group lowered their price objective on Cintas from $730.00 to $200.00 and set a "hold" rating for the company in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target 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.