Pacer Advisors Inc. Purchases 53,897 Shares of Cintas Co. (NASDAQ:CTAS)

Pacer Advisors Inc. boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 327.1% during the 3rd quarter, Holdings Channel reports. The firm owned 70,374 shares of the business services provider’s stock after buying an additional 53,897 shares during the period. Pacer Advisors Inc.’s holdings in Cintas were worth $14,489,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. LGT Financial Advisors LLC increased its stake in Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after acquiring an additional 28 shares during the last quarter. Financial Management Professionals Inc. boosted its stake in Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 99 shares during the period. Hollencrest Capital Management increased its position in Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 104 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Cintas in the second quarter valued at $27,000. Finally, Addison Advisors LLC lifted its holdings 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 during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 0.1 %

Cintas stock opened at $221.76 on Friday. Cintas Co. has a twelve month low of $136.87 and a twelve month high of $227.35. The business has a fifty day moving average of $210.64 and a two-hundred day moving average of $197.09. The firm has a market cap of $89.44 billion, a P/E ratio of 56.00, a P/E/G ratio of 4.29 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) last issued its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The company 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 firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.70 earnings per share. On average, analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared 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 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s payout ratio is presently 39.39%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CTAS. Barclays upped their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Truist Financial increased their price target on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Morgan Stanley upped 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. Redburn Atlantic initiated coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price for the company. Finally, Royal Bank of Canada upped their price target on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a 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 given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.