Cintas Co. (NASDAQ:CTAS) Holdings Lifted by Prospera Financial Services Inc

Prospera Financial Services Inc boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 3,812.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,668 shares of the business services provider's stock after purchasing an additional 33,782 shares during the quarter. Prospera Financial Services Inc's holdings in Cintas were worth $7,137,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CTAS. LGT Financial Advisors LLC increased its holdings in Cintas by 311.1% during 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 during the last quarter. Financial Management Professionals Inc. grew its position 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 acquiring an additional 99 shares in the last quarter. Hollencrest Capital Management grew its position 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 worth $26,000 after acquiring an additional 104 shares in the last quarter. Atwood & Palmer Inc. acquired a new position in shares of Cintas in the 2nd quarter worth approximately $27,000. Finally, Addison Advisors LLC grew its position in shares of 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 acquiring an additional 114 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

Shares of CTAS traded up $0.78 during midday trading on Wednesday, reaching $218.75. The stock had a trading volume of 1,016,020 shares, compared to its average volume of 1,448,242. Cintas Co. has a 52 week low of $136.87 and a 52 week high of $227.35. 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's 50 day moving average price is $222.07 and its 200-day moving average price is $196.41. The company has a market capitalization of $88.22 billion, a P/E ratio of 55.04, a P/E/G ratio of 4.24 and a beta of 1.32.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the business earned $3.70 EPS. The company's quarterly revenue was up 6.8% compared to the same quarter last year. On average, analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

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

Cintas Dividend Announcement

The business also recently announced 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. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, November 15th. Cintas's dividend payout ratio (DPR) is presently 39.39%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays lifted their target price on Cintas from $210.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, September 27th. Robert W. Baird lifted their target price on Cintas from $194.00 to $209.00 and gave the stock a "neutral" rating in a research report 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 report on Thursday, September 26th. UBS Group boosted their price objective on Cintas from $219.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Finally, Morgan Stanley boosted their price objective on Cintas from $170.00 to $185.00 and gave the company an "equal weight" rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus 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.