13,893 Shares in Cintas Co. (NASDAQ:CTAS) Acquired by CWA Asset Management Group LLC

CWA Asset Management Group LLC purchased a new stake in Cintas Co. (NASDAQ:CTAS) during the third quarter, Holdings Channel reports. The firm purchased 13,893 shares of the business services provider’s stock, valued at approximately $2,860,000.

Several other hedge funds have also recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Cintas by 25.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,730 shares of the business services provider’s stock worth $2,562,000 after acquiring an additional 764 shares in the last quarter. Empowered Funds LLC raised its position in Cintas by 16.3% in the 1st quarter. Empowered Funds LLC now owns 3,706 shares of the business services provider’s stock valued at $2,546,000 after purchasing an additional 519 shares during the last quarter. SG Americas Securities LLC boosted its stake in Cintas by 115.5% in the first quarter. SG Americas Securities LLC now owns 12,294 shares of the business services provider’s stock worth $8,446,000 after purchasing an additional 6,589 shares in the last quarter. Wealthspire Advisors LLC grew its holdings in shares of Cintas by 7.1% during the first quarter. Wealthspire Advisors LLC now owns 465 shares of the business services provider’s stock worth $319,000 after purchasing an additional 31 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Cintas by 1.1% in the first quarter. Oppenheimer & Co. Inc. now owns 3,771 shares of the business services provider’s stock valued at $2,591,000 after buying an additional 40 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Up 2.8 %

CTAS stock opened at $225.72 on Friday. The company has a market cap of $91.03 billion, a price-to-earnings ratio of 57.00, a P/E/G ratio of 4.27 and a beta of 1.32. Cintas Co. has a twelve month low of $131.24 and a twelve month high of $227.24. The business has a 50 day moving average price of $219.35 and a two-hundred day moving average price of $193.39. 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) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate 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 last year, the firm posted $3.70 EPS. Analysts anticipate that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas declared that its board has authorized a share repurchase program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 annualized dividend and a yield of 0.69%. Cintas’s dividend payout ratio is 39.39%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CTAS. Barclays upped their price target on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Jefferies Financial Group reduced their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Robert W. Baird boosted 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. Finally, Truist Financial raised their price target on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.