Prossimo Advisors LLC raised its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 294.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,616 shares of the business services provider's stock after buying an additional 10,163 shares during the period. Cintas comprises approximately 2.0% of Prossimo Advisors LLC's investment portfolio, making the stock its 9th biggest holding. Prossimo Advisors LLC's holdings in Cintas were worth $2,803,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Checchi Capital Advisers LLC raised its stake in 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 buying an additional 14 shares during the period. Axxcess Wealth Management LLC grew its position in shares of Cintas by 0.5% in the second 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 during the last quarter. Field & Main Bank grew its position in shares of Cintas by 25.0% in the second 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 grew its position in shares of Cintas by 3.7% in the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider's stock valued at $314,000 after purchasing an additional 16 shares during the last quarter. Finally, TIAA Trust National Association grew its position in shares of Cintas by 1.2% in the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider's stock valued at $954,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 63.46% of the company's stock.
Shares of NASDAQ CTAS opened at $205.62 on Friday. Cintas Co. has a twelve month low of $126.74 and a twelve month high of $215.37. The stock's 50 day moving average price is $217.75 and its 200-day moving average price is $191.84. The company has a market capitalization of $82.93 billion, a PE ratio of 51.92, a PEG ratio of 4.09 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.
Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share 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 firm 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 revenue was up 6.8% compared to the same quarter last year. On average, equities analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.
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 paid 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 0.76%. Cintas's payout ratio is presently 39.39%.
Cintas announced that its board has approved a share repurchase program on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.
Several research firms have recently commented on CTAS. The Goldman Sachs Group upped their target price on Cintas from $212.00 to $236.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Royal Bank of Canada increased their price target on Cintas from $181.00 to $215.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 26th. Barclays increased their price target on Cintas from $210.00 to $245.00 and gave the stock an "overweight" rating in a research report on Friday, September 27th. Stifel Nicolaus increased their price target on Cintas from $166.75 to $199.50 and gave the stock a "hold" rating in a research report on Friday, July 19th. Finally, Baird R W downgraded Cintas from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 19th. Two equities 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.com, Cintas has an average rating of "Hold" and an average price target of $199.63.
Check Out Our Latest Research Report on CTAS
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.
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