RIA Advisory Group LLC Takes $787,000 Position in Cintas Co. (NASDAQ:CTAS)

RIA Advisory Group LLC bought a new stake in Cintas Co. (NASDAQ:CTAS - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,821 shares of the business services provider's stock, valued at approximately $787,000.

A number of other hedge funds have also modified their holdings of the business. Paragon Advisors LLC raised its position in shares of Cintas by 293.5% in the third quarter. Paragon Advisors LLC now owns 12,509 shares of the business services provider's stock valued at $2,575,000 after buying an additional 9,330 shares during the last quarter. Natixis Advisors LLC increased its position in Cintas by 320.4% during the third quarter. Natixis Advisors LLC now owns 413,935 shares of the business services provider's stock worth $85,221,000 after purchasing an additional 315,471 shares during the last quarter. Mizuho Securities USA LLC increased its position in Cintas by 3,834.4% during the third quarter. Mizuho Securities USA LLC now owns 261,247 shares of the business services provider's stock worth $53,786,000 after purchasing an additional 254,607 shares during the last quarter. Mizuho Markets Americas LLC increased its position in Cintas by 244.3% during the third quarter. Mizuho Markets Americas LLC now owns 30,144 shares of the business services provider's stock worth $6,206,000 after purchasing an additional 21,390 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its position in Cintas by 264.6% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,144 shares of the business services provider's stock worth $2,088,000 after purchasing an additional 7,362 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Price Performance

Shares of Cintas stock traded down $1.46 on Friday, hitting $215.20. The company's stock had a trading volume of 1,792,986 shares, compared to its average volume of 1,450,435. 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 fifty day moving average price of $221.49 and a 200-day moving average price of $195.28. The company has a market capitalization of $86.79 billion, a P/E ratio of 54.34, a price-to-earnings-growth ratio of 4.40 and a beta of 1.32.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data 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. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the firm earned $3.70 EPS. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities research analysts expect that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas declared that its board has approved a share buyback plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.72%. The ex-dividend date is Friday, November 15th. Cintas's payout ratio is 39.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CTAS shares. UBS Group raised their price objective 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. Stifel Nicolaus raised their price objective on shares of Cintas from $166.75 to $199.50 and gave the stock a "hold" rating in a research report on Friday, July 19th. Jefferies Financial Group lowered their target price on shares of Cintas from $730.00 to $200.00 and set a "hold" rating for the company in a research note on Thursday, September 26th. Wells Fargo & Company increased their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an "underweight" rating in a research note on Thursday, September 26th. Finally, Baird R W lowered shares of Cintas from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Cintas currently has a consensus rating of "Hold" and an average price target of $199.63.

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.