Swiss National Bank Buys 814,000 Shares of Cintas Co. (NASDAQ:CTAS)

Swiss National Bank lifted its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 301.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,084,400 shares of the business services provider's stock after acquiring an additional 814,000 shares during the period. Swiss National Bank owned 0.27% of Cintas worth $223,256,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CTAS. LGT Financial Advisors LLC lifted its position in Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider's stock worth $26,000 after buying an additional 28 shares during the period. Financial Management Professionals Inc. raised its holdings 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 purchasing an additional 99 shares during the period. Hollencrest Capital Management raised its holdings 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 purchasing an additional 104 shares during the period. Atwood & Palmer Inc. purchased a new stake in shares of Cintas during the 2nd quarter valued at about $27,000. Finally, Addison Advisors LLC raised its holdings in shares of Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider's stock valued at $28,000 after buying an additional 114 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTAS has been the topic of several analyst reports. Royal Bank of Canada raised their target price on Cintas from $181.00 to $215.00 and gave the company a "sector perform" rating in a report on Thursday, September 26th. Barclays raised their target price on Cintas from $210.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, September 27th. Wells Fargo & Company raised their price objective on Cintas from $184.00 to $191.00 and gave the company an "underweight" rating in a research note on Thursday, September 26th. Redburn Atlantic initiated coverage on Cintas in a research note on Friday, August 9th. They set a "neutral" rating and a $167.50 price objective for the company. Finally, Jefferies Financial Group decreased their target price 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 equities research 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 MarketBeat, Cintas currently has an average rating of "Hold" and a consensus price target of $199.63.

Cintas Price Performance

NASDAQ CTAS traded up $1.00 on Monday, reaching $216.20. The company's stock had a trading volume of 1,610,515 shares, compared to its average volume of 1,451,152. Cintas Co. has a twelve month low of $136.50 and a twelve month high of $227.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The stock has a market cap of $87.19 billion, a PE ratio of 54.34, a PEG ratio of 4.24 and a beta of 1.32. The firm's 50 day moving average is $221.49 and its two-hundred day moving average is $195.70.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.70 EPS. As a group, sell-side analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

The firm also recently announced 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 is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. Cintas's dividend payout ratio is 39.39%.

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

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.