Cintas Co. (NASDAQ:CTAS) Stock Position Boosted by Pathstone Holdings LLC

Pathstone Holdings LLC boosted its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 428.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,332 shares of the business services provider's stock after purchasing an additional 48,921 shares during the quarter. Pathstone Holdings LLC's holdings in Cintas were worth $12,421,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Atria Investments Inc grew its stake in Cintas by 291.7% during the third quarter. Atria Investments Inc now owns 22,321 shares of the business services provider's stock worth $4,595,000 after buying an additional 16,623 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Cintas by 343.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider's stock worth $22,976,000 after purchasing an additional 86,460 shares in the last quarter. Creative Planning lifted its position in shares of Cintas by 34.4% during the second quarter. Creative Planning now owns 19,351 shares of the business services provider's stock worth $13,551,000 after purchasing an additional 4,957 shares in the last quarter. Western Financial Corp CA lifted its position in shares of Cintas by 628.2% during the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider's stock worth $2,429,000 after purchasing an additional 10,177 shares in the last quarter. Finally, Portside Wealth Group LLC lifted its position in shares of Cintas by 361.9% during the third quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider's stock worth $287,000 after purchasing an additional 1,093 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CTAS. UBS Group boosted their target price on shares of Cintas from $219.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an "underweight" rating in a research report on Thursday, September 26th. Royal Bank of Canada boosted their target price on shares of Cintas from $181.00 to $215.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 26th. The Goldman Sachs Group upped their price target on shares of Cintas from $212.00 to $236.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Finally, Barclays upped their price target on shares of Cintas from $210.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, September 27th. Two equities 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $199.63.

Cintas Stock Up 0.4 %

Cintas stock opened at $218.75 on Thursday. The company has a 50-day simple moving average of $210.05 and a 200-day simple moving average of $196.56. The firm has a market capitalization of $88.22 billion, a P/E ratio of 55.24, a P/E/G ratio of 4.24 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a one year low of $136.87 and a one year high of $227.35.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.70 earnings per share. As a group, equities analysts expect 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. 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 annualized dividend and a dividend yield of 0.71%. Cintas's dividend payout ratio is currently 39.39%.

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.